Top Companies in Car Accessories Market | Major Players of Industry Statistics, Company Size & Share, Market Outlook, Forecast Report by Vantage Market Research

Market Overview

The Global Car Accessories Market was valued at USD 416.4 Billion in the year 2021 and is expected to reach a value of USD 604.1 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period. As the worldwide automotive industry expands, resulting in increased sales of passenger cars and pickup trucks, the global market for car accessories is predicted to grow. The Car Accessories Market is estimated to be driven by a growing automotive aftermarket e-retailing in developed markets throughout the forecast period. In addition, a growing customer desire for an engaging driving experience, increased demand for fast-moving automobile accessories, and increasing vehicle customization among a young population are all projected to fuel the global Car Accessories Market's growth. However, the global Car Accessories Market is predicted to be stymied by the availability of deceptive and low-quality electronic accessories, largely imported from Asian continents to other areas, and cost competitiveness due to substantial market fragmentation.

Due to rising demand for car customization, particularly among the younger generation, the global market for automotive accessories is anticipated to experience considerable expansion soon. In addition, the market for vehicle accessories is expanding due to consumer preferences for improved driving performance. Additionally, the market is growing because of the surge in demand for passenger cars brought on by an increase in disposable income and a better standard of living. However, it is anticipated that the availability of inexpensive, low-quality accessories will restrict market expansion. On the other hand, introducing new technologies in the automotive sector, including active window displays and biometric car entry, is anticipated to offer the market lucrative growth opportunities in the future.

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Some of the key players operating in the Car Accessories Market are listed below:

1. Pioneer Corporation

The company is commonly referred to as Pioneer, is a Japanese multinational corporation based in Tokyo that specializes in digital entertainment products. Pioneer Corporation was founded by Nozomu Matsumoto in the year 1938 in Tokyo as a radio and speaker repair shop. Its current president is Susumu Kotani and the company headquarters are situated in Japan. There are approximately 9,100 employees working in this organization.

2. Garmin Ltd.

The company is a Swiss-domiciled multinational technology company that was founded in the year 1989 by Gary Burrell and Min Kao in Lenexa, United States, and the headquarters are situated in Olathe, Kansas. In the fourth quarter of 2021, the revenue generated from Garmin's fitness segment registered to $470.15 million. A significant increase compared to the previous quarter when it generated $342 million in 2021. There are approximately 18,700 employees working in this company.

3. H-I Motors

This Company has many years of automobile industry experience and makes every effort to provide you as customers with the best quality and best service throughout the global market. They are working on OEM, ODM, and offering buying agency services for overseas companies through the close cooperative relations with selected companies in Korea who have qualified technologies and experience. The company was founded in the year 1996 and has approximately 10,000 employees in their company.

4. Lloyd Mat

The company was founded in the year 1978 and the headquarters are situated in Los Angeles. Manufacturer of floor and cargo mats intended for automotive industries. The company Lloyd Mats manufactures all makes and models, custom-fit carpet floor mats, all-weather floor mats and rubber mats, enabling the customers to get access to specialty-designed automotive aftermarket products.

5. Covercraft Industries, LLC

The company is one of the leading branded manufacturer of Automotive, Marine and Recreational Vehicle protection products, as well as a market leader in outdoor protection products for Home and Garden. It was founded in the year 1965 and the headquarters of the company are situated in California. There are approximately 500 to 1000 employees in this company.

6. Oakmoore Pty Ltd

The Company is known as EGR Group which is a locally owned private company that derives its revenue from the particular segment which manufacture and distribution of automotive accessories, building products, extrusions and business displays. The company was founded in the year 1973 and the headquarters of the company is situated in Queensland. The company has approximately 1000 employees in their organization.

7. Mont Blanc

This Company was founded in 1947. Step by step they have developed their offer and improved quality, safety, and sustainability. They have worked tirelessly and today they are a leader in carload transport solutions for recreational and sporting purposes. Their equipment is always professional standard, available to everyone, easy to install and use and designed perfectly for its’ intended purpose. The company headquarters are situated in Sweden.

They majorly work on automotive maintenance and repair and tires. The company has approximately 5000-10000 employees working in the organization.

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