Exterior Car Accessories Market Size, Share, By Product Type (Styling Accessories, Protection Accessories, Performance Parts, Utility Accessories), By Vehicle Type (Passenger cars, SUVs and crossovers, Pickup trucks, Commercial vehicles), By Distribution Channel (OEM, Aftermarket) and By Region - Trends, Analysis and Forecast till 2034

Exterior Car Accessories market size was valued at USD 378.5 Billion in 2024 and is expected to reach USD 767.7 Billion by 2034, growing at a CAGR of 8.1%

The market for Exterior Car Accessories has diversified significantly to enhance the look, functionality, and performance of any vehicle. This is one dynamic sector that has registered huge growth in the recent past. Factors attributed to this rapid growth include increased disposable incomes, an expanding automotive industry, and a heightened consumer inclination towards customization.  These Exterior Car Accessories serve a wide array of purposes. Beyond this aesthetic appeal, they often serve other critical purposes related to safety, protection, and utility. The market could broadly be classified into styling accessories, protection accessories, performance parts, and utility products. Styling accessories, which comprise spoilers, body kits, and alloy wheels, cater to the demand of customers who intend to differentiate their vehicles from the rest. Protection accessories, like car covers, mud flaps, and window tints, protect your vehicle from elemental damage or other forms of physical damage. Performance parts, including exhaust systems, air intakes, and suspension upgrades, are all oriented to letting enthusiasts squeeze as much performance as possible out of the vehicle. Utility accessories entail roof racks, cargo carriers, and bike racks that turn a vehicle into a more functional one in diversified lifestyle needs.   A number of factors accelerate this growth path of the market.

First of all, the rise in disposable incomes, primarily in emerging economies, encouraged the demand for premium and luxury car accessories. Moreover, the rapidly expanding automotive sector increased the pool of customers for aftermarket products. Apart from these, technology provided impetus with the insertion of smart features into exterior accessories, such as advanced lighting systems or camera systems. The increasing consumer preference for customization and personalization has given a boost to Exterior Car Accessories. Customization and personalization in creating a unique and distinctive vehicle have contributed to the increased popularity of aftermarket products. Moreover, there is also an increased concern for safety and security, hence an increased demand for protective accessories such as alarms, immobilizers, and security cameras. Although huge in potential, the Exterior Car Accessories market has also been troubled by some specific restraints. Factors likely to further impact the growth of the market are stiff competition in the manufacturing industry, fluctuating prices of raw materials, and emission norms at high levels. However, the overall outlook for the Exterior Car Accessories market remains optimistic, with continued expansion expected in the coming years.

Key Drivers of Target Market:

Increasingly Aware Consumer

• With increasing awareness about vehicle safety, performance enhancement, and aesthetic customization, there has been a rise in demand for protection accessories, performance parts, and styling accessories. E-commerce platforms make it easier for consumers to access a wide range of automotive accessories and parts. Online shopping brings convenience and variety at competitive pricing; hence, boom in the aftermarket segment.

Rising Disposable Income

• It is expected that, with increasing disposable incomes, especially in developing countries, people would like to spend on styling and performance improvisation. Both styling and performance accessories have benefited from this trend. On the whole, the outlook for the global automobile industry is encouraging, with production and sales on an upward track, specifically in Asia Pacific. This has resulted in a growing demand for both OEM and aftermarket components and accessories.

Restrains:

Counterfeit Products

• The presence of counterfeits and low-quality products can hurt the consumer's confidence and benefit the real brands. The counterfeit also presents a safety risk for consumers, which could be the trigger towards regulatory crack-downs. Supply chain disruptions at a global level, including shortage of raw materials, transportation delays, and geopolitical tensions, affect the supplies and prices of the accessories and parts needed by automobiles. All these disruptors restrict the market growth.

Opportunities:

Electric and Hybrid Vehicles

• Thus, the increasing demand for electric and hybrid vehicles presents a vast opportunity to the automotive accessories market. Specialty parts, such as charging stations and battery management systems, and eco-friendly accessories, are in growing demand.

The market is segmented based on Product Type, Vehicle Type, Distribution Channel, and Region.

Product Type Insights:

• Styling Accessories: These are products meant to enhance the aesthetic value of any vehicle. Examples include custom grilles, spoilers, alloy wheels, body kits, seat covers, dashboard trims, and custom lighting as interior enhancements. The owners use styling accessories to personalize their cars in terms of individual taste and preference; they can be exterior or interior and thus give a wide range of options with respect to improving the look and feel of the vehicle.
• Protection Accessories: Protection accessories are oriented to protect the vehicle and its occupants from damage and wear. Protection accessories include examples like car covers, floor mats, mud flaps, seat covers, protective films for paint and windows, bumper guards, splash guards, and weather shields. All such protection accessories keep the vehicle in good condition and thus help in maintaining resale value, providing an additional amount of safety to the passengers.
• Performance Accessories: Their parts are mainly used to increase the speed of a vehicle, enhance its handling, and improve fuel efficiency. These would include high-performance exhaust systems, air filters, suspension kits, brake upgrades, and engine tuning devices. These are only a few of the performance parts available to be applied by enthusiasts looking for much better performance from their vehicles, compared to when they leave the factory. They're often used in motorsports or simply by those who enjoy high-performance driving.
• Utility Accessories: These utility accessories increase the functionality of any vehicle. They can be anything from roof racks and towing equipment to cargo liners, bicycle racks, and even toolboxes. Basically, these are for those who use their vehicles every day for work, outdoor activities, or simply traveling. The utility accessories help in maximizing the utility of the vehicle for many different tasks and purposes.

Vehicle type insights:

• Passenger Cars: It refers to those vehicles designed primarily for the transport of people, not goods. This might be further divided into subcategories like sedan, hatchback, coupes, and convertible. Characteristically, passenger cars are small, emphasis being on comfort, fuel efficiency, and affordability. They form the most used category of vehicles for daily commuting, family transport, or personal travel.
• SUVs and Crossovers: They are a category of Sport Utility Vehicles (SUVs) and crossovers that are larger than passenger cars; they have higher ground clearance, more interior space, and sometimes all-wheel drive properties. The former are designed to run on off-road surfaces and be resilient to rough usage. The latter borrow a little from SUVs and passenger cars to give a car-like comfort, with the versatility of an SUV. Families and those who want more space and capacity make wide use of these vehicles.
• Pick-Ups: The pickup trucks are identified by the open cargo region—the bed—and are known for their strength, power, and towing capacity. They are also used by individuals and businesses alike in hauling goods, towing a trailer, and off-roading. It is most especially liked by those living in rural areas and owners who need a hardy vehicle to withstand any heavy job.
• Commercial Vehicles: Commercial vehicles are manufactured for the transport of goods and passengers for business purposes. This includes vans, buses, trucks, and other special vehicles such as ambulances and delivery vans. Commercial vehicles play a vital role in logistics, public transport, and service industries and, therefore, assume a vital position within the economy, moving goods and people.

Distribution Channel insights:

• Original Equipment Manufacturer. OEM parts and accessories are produced by the vehicle manufacturer or an approved and licensed supplier. Such products should provide a perfect fit and functionality by being made exactly to specification. As is rightly perceivable, OEM parts are usually preferred for quality, warranty, and compatibility. OEM parts are thus usually carried through the authorized dealership network and service centers.
• Aftermarket: Parts and accessories are produced by third-party manufacturers, who do not necessarily attach themselves to any particular brand of vehicle. This segment features an awful lot of choices, normally at much more competitive prices compared with OEM parts. In the products available are performance enhancements, replacement parts, and custom accessories, many of which can be used to enhance performance, comfort, safety, and appearance. The aftermarket offers customers choice and customization beyond the limitations of OEM offerings.

Regional insights:

• North America: The North American automotive market includes the United States, Canada, and Mexico. High-volume demand exists for SUVs, pickup trucks, high-performance vehicles; the aftermarket in this region is also very active, with an immense focus on customization/modification of vehicles. This region is driven much by regulatory standards and consumer preference.
• Europe represents a much diversified car market, with a disproportional share of premium and luxury cars. This region has set more stringent environmental control measures in place, where efficient and low-emission vehicles are in high demand. The European market is aggressive with respect to quality and advanced technology in both OEM and aftermarket segments.
• Asia Pacific: This is the largest geographical market in terms of volume, comprising countries such as China, Japan, South Korea, and India. It is a region that brings together both developed and emerging markets with heterogeneity in consumer tastes and the environment. Demand remains extremely strong at both ends of low-cost and high-technology vehicles, while the rapidly growing vehicle population enhances the aftermarket industry.
• Latin America: The Latin American automotive market is quite diversified in nature, wherein the share of vehicle sales is dominated by countries like Brazil and Argentina. This market is characterized by a preference toward compact and economical vehicles, both due to economic conditions and the current road infrastructure. Further, a significant aftermarket segment is driven by the need for affordable solutions in repair and maintenance.
• Middle East and Africa: The automotive market in the Middle East and Africa is very diverse. The high disposable incomes in the Middle East will continue to drive demand for SUVs and luxury vehicles, while the African market lays more emphasis on low cost and durability. Aftermarket is a growing industry, with more emphasis laid on keeping used vehicles on the road for a longer period of time amidst horrible road and climatic conditions in most regions where brand new vehicles are also not easily available.

Exterior Car Accessories Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Product Type, Vehicle Type, Distribution Channel, and Region.

Segmentation:

By Product Type:

• Styling Accessories
• Protection Accessories
• Performance Parts
• Utility Accessories

By Vehicle Type:

• Passenger cars
• SUVs and crossovers
• Pickup trucks
• Commercial vehicles

By Distribution Channel:

• OEM
• Aftermarket

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Exterior Car Accessories Market include Oakmore Pty Ltd, Car Mate Manufacturing Co. Ltd., Lund International, Inc., Truck Covers USA Llc, Lloyd Mats, The Pep Boys, Thule Group, U.S. Auto Parts Network, Inc., Covercraft Industries LLC, and Mont Blac Industri Ab.

• In July 2024, Tesla has now opened an expanded aftermarket parts and accessories store, carrying a wide variety of products for Tesla owners. This move looks to cater to the increasing demand from Tesla owners for customization and spare parts specifically made for Teslas.
• In June 2024, Bosch then launched a new range of EV components, from high-efficiency electric motors to innovative battery management systems. The components are designed to enhance both the performance and efficiency of EVs and respond to the market demand for electric mobility that has started taking shape.
• In May 2024, Amazon has announced a partnership with top aftermarket parts suppliers in a bid to increase its offerings of auto parts and accessories. This partnership looks to provide customers with an even broader selection of high-quality parts while improving delivery times.

• Oakmore Pty Ltd*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Car Mate Manufacturing Co. Ltd.
• Lund International, Inc.
• Truck Covers USA Llc
• Lloyd Mats
• The Pep Boys
• Thule Group
• U.S. Auto Parts Network, Inc.
• Covercraft Industries LLC
• Mont Blac Industri Ab

“*” marked represents similar segmentation in other categories in the respective section.