Automotive Light Commercial Vehicle Exterior Trim Parts Market to Grow with a CAGR of 6.8% Globally through to 2028
Rising LCV Production Worldwide, Consumer Demand for
Aesthetics and Customization, Global Shift Towards Eco-Friendly Materials and Technological
Advancements in Exterior Trim Parts are factors driving the Global Automotive
Light Commercial Vehicle Exterior Trim Parts market in the forecast period
2024-2028.
According to TechSci Research report, “Global Automotive
Light Commercial Vehicle Exterior Trim Parts Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive
Light Commercial Vehicle Exterior Trim Parts Market stood at USD 10 billion in
2022 and is anticipated to grow with a CAGR of 6.8% in the forecast period,
2024-2028. The
Global Light Commercial Vehicle (LCV) Exterior Trim Parts Market is a dynamic
and integral segment within the automotive industry, encompassing a wide range
of components designed to enhance both the aesthetics and functionality of
LCVs. These exterior trim parts include elements such as bumpers, grilles, side
mirrors, door handles, and various accents, which not only contribute to the
visual appeal of LCVs but also fulfil essential safety and functional roles. One
of the primary driving forces behind the growth of this market is the steady
rise in LCV production worldwide. As economic activities expand, the demand for
LCVs used in logistics, construction, and transportation continues to surge,
necessitating the production of exterior trim parts on a substantial scale.
Emerging markets, such as those in Asia-Pacific and Latin America, are
witnessing a rapid increase in urbanization, leading to a greater need for LCVs
in last-mile delivery and urban logistics, further fuelling production.
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Light Commercial Vehicle Exterior Trim Parts Market.”
The Global Light Commercial Vehicle (LCV) Exterior
Trim Parts Market is a pivotal segment within the automotive industry,
encompassing a wide range of components that serve both aesthetic and
functional purposes. These exterior trim parts include elements such as
bumpers, grilles, side mirrors, door handles, and various accents, all of which
contribute to the visual appeal and performance of LCVs. This market operates
at the intersection of design, safety, and functionality, and it is shaped by
several key drivers, challenges, and trends.
One of the primary driving forces behind the growth of
the Global LCV Exterior Trim Parts Market is the continuous increase in LCV
production worldwide. As economic activities expand and urbanization spreads,
the demand for LCVs used in logistics, construction, and transportation
continues to rise. LCVs are indispensable for businesses, facilitating the
movement of goods and services, making them a cornerstone of various
industries. This surge in LCV production translates directly into a heightened
demand for exterior trim parts. Emerging markets, particularly those in the
Asia-Pacific and Latin America regions, are experiencing rapid urbanization,
leading to a greater need for LCVs for last-mile delivery and urban logistics.
This, in turn, fuels the production of exterior trim parts to meet the demands
of these growing markets.
Stringent automotive regulations imposed by
governments worldwide represent another critical driver for the LCV Exterior
Trim Parts Market. These regulations span a wide range of areas, including
safety, emissions, and fuel efficiency, and they exert a direct influence on
the design and manufacturing of exterior trim components. Safety regulations,
for instance, have led to the integration of advanced safety features into
exterior trim parts. Bumpers are designed with energy-absorbing materials to
reduce the impact of collisions, and hood systems incorporate pedestrian
protection features to enhance safety for both vehicle occupants and
pedestrians. These safety enhancements reflect the commitment of the automotive
industry to meeting stringent safety standards and ensuring the well-being of
all road users.
Consumer preferences for vehicle aesthetics and
personalization have emerged as a driving force, with modern LCV buyers seeking
vehicles that not only fulfill their functional needs but also reflect their
individual style and brand identity. This consumer demand has driven the
expansion of customization and personalization options in exterior trim
components. Automakers and trim part manufacturers have responded to this trend
by offering an extensive array of customization options, enabling buyers to
choose from various finishes, colors, and accents to tailor their LCVs to their
specific preferences. For businesses, this customization extends to branding opportunities,
where fleet owners can incorporate their logos and corporate colors into the
exterior trim parts of their LCVs. As the desire for personalized vehicles
continues to grow, the demand for customized exterior trim parts remains a
significant driver in the market, reflecting the importance of individuality
and brand identity in today's automotive landscape.
Technological advancements have also played a
transformative role in the LCV Exterior Trim Parts Market, with the integration
of advanced technologies revolutionizing the functionality and safety of these
components. Smart sensors are increasingly incorporated into exterior trim
parts like bumpers and side mirrors, facilitating features such as parking
assistance, blind-spot monitoring, and collision avoidance. These technologies
not only enhance driver safety but also improve maneuverability, particularly
in urban environments where LCVs are frequently used for delivery and
transportation. LED lighting elements have found their way into headlights,
taillights, and mirrors, not only enhancing visibility but also offering design
flexibility. Automakers can utilize LEDs to create unique lighting signatures
that contribute to the aesthetics of their LCVs. Furthermore, camera systems
integrated into exterior trim parts support features such as rearview cameras
and 360-degree view cameras, enhancing safety and aiding in parking and
navigation. As vehicles become more connected and autonomous, there is a
growing need for exterior trim parts to facilitate communication between
vehicles and infrastructure. This includes vehicle-to-vehicle (V2V) and
vehicle-to-infrastructure (V2I) communication, which are essential for the
development of connected and autonomous LCVs. These technological advancements
are not merely trends but drivers of innovation, shaping the LCV Exterior Trim
Parts Market and aligning it with the broader automotive industry's trajectory
toward connected and autonomous vehicles.
Major companies operating in Global Automotive Light
Commercial Vehicle Exterior Trim Parts Market are:
- AISIN Group
- CIE Automotive
- DURA Automotive Systems
- Ficosa Internacional SA
- GEDIA Automotive Group
- Hayashi Telempu Corporation
- IDEAL Automotive
- KASAI KOGYO Co. Ltd.
- Samvardhana Motherson Group
- TOYOTA BOSHOKU Corporation
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“The Global
Light Commercial Vehicle (LCV) Exterior Trim Parts Market is a crucial segment
within the automotive industry, encompassing components that blend aesthetics
with functionality. These components, such as bumpers, grilles, mirrors, and
door handles, not only enhance the visual appeal but also contribute to the
safety and performance of LCVs. Key drivers include the steady rise in LCV
production globally, stringent automotive regulations necessitating safety and
sustainability measures, and a growing demand for personalization by consumers
and businesses alike. Additionally, technological advancements are reshaping
exterior trim parts, integrating smart sensors, LED lighting, and camera
systems. Sustainability is also a notable trend, with a shift towards
eco-friendly materials. These factors collectively drive innovation, making the
LCV Exterior Trim Parts Market an essential part of the automotive landscape.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive
Light Commercial Vehicle Exterior Trim Parts Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Front
Bumper, Rear Bumper, Outside Rear View Mirror (ORVM), Rocker Panel (Under
Cover), Radiator Grills, Wheel Arch Cladding (Fender Liner)), By Sales Channel
(OEM, Replacement), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Automotive Light Commercial
Vehicle Exterior Trim Parts Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Automotive
Light Commercial Vehicle Exterior Trim Parts Market.
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