Global Automotive Skid Plate Market to Reach 147.7 Million Units by the Year 2027
Amid the COVID-19 crisis, the global market for Automotive Skid Plate estimated at 52.4 Million Units in the year 2020, is projected to reach a revised size of 147.7 Million Units by 2027, growing at a CAGR of 16% over the analysis period 2020-2027.SUVs, one of the segments analyzed in the report, is projected to grow at a 17.9% CAGR to reach 134.1 Million Units by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pickup Trucks segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 16.3% share of the global Automotive Skid Plate market.
The U.S. Accounts for Over 28.8% of Global Market Size in 2020, While China is Forecast to Grow at a 21% CAGR for the Period of 2020-2027
The Automotive Skid Plate market in the U.S. is estimated at 15.1 Million Units in the year 2020. The country currently accounts for a 28.78% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 29.8 Million Units in the year 2027 trailing a CAGR of 21% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 14.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach 29.8 Million Units by the year 2027.
Other Vehicle Types Segment Corners a 2.8% Share in 2020
In the global Other Vehicle Types segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of 1.1 Million Units in the year 2020 will reach a projected size of 1.8 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 23.5 Million Units by the year 2027, while Latin America will expand at a 8.7% CAGR through the analysis period. We bring years of research experience to this 7th edition of our report. The 183-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- All-Pro Offroad
- RCI Metalworks LLC.
- Relentless off-road Fabrication
- Setina Mfg. Inc.
- The Offroad Company