Global Automotive luggage Trim Market : Industry Analysis and Forecast (2019-2026)
Global Automotive Luggage Trim Market was valued at US$ 983.73 Mn in 2018 and is expected to reach US$ 1256 Mn by 2026, at a CAGR of 3.55% during a forecast period.
Major driving factors of the automotive luggage trim market are rise in adoption of the substitution to the steel roof panel by a lightweight aluminum alloy roof panel is an attractive option to optimize the mass distribution in a passenger vehicle. Rising automobile production coupled with shifting consumer preference toward enhancing the aesthetics of vehicles will primarily drive the automotive decorative exterior trim market size over the forecast time frame. Developing economies possess high growth opportunities owing to the low level of external modification rate in the vehicles. The rise of complexities and costs associated with product maintenance, replacement will act as restraint to the market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Based on the Application type, Passenger Vehicle application segment is expected to hold the largest share in the automotive luggage trim market during the forecast period.The passenger vehicle are changing due to its design world, interiors once played second fiddle. The glamour and glory resided in the sleek, beautiful sheet metal of the exterior. The passenger vehicle is in the revolution which is under way in current vehicles filled with features, technology and materials undreamed of a few years ago. Rise in income level and spending on vehicle have risen nowadays which makes another opportunity of growth in automotive luggage trim market.
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Last Update : 11 July 2020
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