The Global Passenger Car Accessories Aftermarket Size valued for USD 163.5 Billion in 2021 and is anticipated to reach USD 318.5 Billion by 2030 with a CAGR of 7.8% from 2022 to 2030.

Passenger Car Accessories are a variety of products designed to improve the safety, functionality, comfort, and aesthetic appeal of passenger vehicles. These accessories can be installed by either car owners or professionals at specialized aftermarket shops. These accessories, which include custom wheels, body kits, spoilers, running boards, and grilles, are intended to improve the appearance of a vehicle. These accessories, which include floor mats, seat covers, dashboard covers, and steering wheel covers, are intended to improve the comfort and convenience of a vehicle's interior. GPS navigation systems, backup cameras, and parking sensors are examples of car accessories that are intended to improve the functionality and safety of a vehicle. These accessories, which include car wax, cleaning products, and tyre shine, are intended to assist car owners in maintaining their vehicles.

Passenger Car Accessories Aftermarket Dynamics

With the growing global population and urbanization, the number of people owning passenger cars has increased. As car owners seek to personalize and improve the performance and functionality of their vehicles, this has created a massive market for passenger car accessories. Consumers are willing to spend more on personalizing and upgrading their vehicles as their disposable income grows. As a result, demand for high-end and luxury car accessories has increased. Back-up cameras, seat covers, and parking sensors among other passenger car accessories that improve safety and comfort, have grown in popularity in recent years. The demand for these types of accessories is likely to increase as consumers become more conscious of the significance of safety and comfort.

Consumers can now buy passenger car equipment from the comfort of their own homes thanks to the rise of e-commerce. This has increased the reach of the aftermarket for passenger car accessories and made it easier for smaller suppliers and manufacturers to sell their products to a larger audience. As people become more aware of environmental issues, there is a greater demand for eco-friendly and viable passenger car accessories. Electric car chargers, energy-efficient LED lighting, and biodegradable car cleaning products, are examples of such products.

The cost of raw materials such as plastic, steel, and rubber can have a significant impact on the cost of manufacturing passenger car accessories. Price fluctuations can make it difficult for manufacturers to maintain consistent pricing for their products, which can affect demand. The aftermarket for passenger car accessories is vulnerable to counterfeit products, which can be of poor quality and harm the reputation of genuine products. Counterfeits can also pose a safety risk and have a negative impact on the industry's growth. The implementation of passenger car safety regulations, such as mandatory security features and emission standards, may raise the production costs of passenger car accessories. As a result, the prices of the accessories may rise, affecting demand.

Passenger Car Accessories Aftermarket Insights

The Passenger Car Accessories aftermarket is divided into type, application, and geographic markets. Type segment is further sub-segmented into external accessories and internal accessories. Furthermore, alloy wheels, air freshener, body kits (chrome accessories, bumper guards, and door visors), body covers, alloy wheels, tires, car care products, window films, seat & steering covers, electronic accessories (infotainment units, mobile charger, and music system), knobs, floor mats, sunshades, car organizers, air freshener, vacuum cleaners, pillows & cushions, and others (dash camera, tissue holders, antenna, and horn) are covered under the application segment. North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa comprise the region sector.

Global Passenger Car Accessories Aftermarket Geographical Competition

The passenger car accessories aftermarket in North America accounts for a sizable portion of the global passenger car accessories industry. It includes a wide range of products designed to improve the appearance, comfort, safety, and functionality of passenger vehicles.

The United States and Canada have some of the world's highest rates of vehicle ownership, creating a sizable market for passenger car accessories.

The region has a high standard of living and a high level of disposable income. This has allowed consumers to spend more money on passenger car accessories and to seek out high-end and luxury items. As consumers become more conscious of the importance of safety and comfort, demand for passenger car accessories that improve these aspects of a vehicle has increased. Back-up cameras, parking sensors, and seat covers are examples of such items.

The Asia-Pacific passenger car accessories aftermarket accounts for a sizable portion of the global passenger car accessories market. It includes a wide range of products designed to improve the performance, comfort, safety, and appearance of passenger vehicles.

The region has a sizable and rapidly growing middle class, which has resulted in an increase in vehicle ownership. As car owners seek to personalize and improve the performance and functionality of their vehicles, this has created a massive market for passenger car accessories.

Consumers in the region are willing to spend more on personalizing and upgrading their vehicles as disposable incomes rise. As a result, demand for high-end and luxury car accessories has increased.

Global Passenger Car Accessories Industry Segment Analysis

Market By Type

·         External Accessories

·         Internal Accessories

Market By Application

·         Alloy Wheels

·         Air Freshener

·         Body Covers

·         Car Organizers

·         Car Care Products

·         Electronic Accessories (Infotainment Units, Mobile Charger, and Music System)

·         Floor Mats

·         Knobs

·         LED Lights Body Kits (Chrome Accessories, Bumper Guards, and Door Visors)

·         Pillows & Cushions

·         Roof Rack

·         Seat & Steering Covers

·         Sunshades

·         Tires

·         Vacuum Cleaners

·         Window Films

·         Others (Dash Camera, Tissue Holders, Antenna, and Horn)

Passenger Car Accessories Aftermarket Leading Companies

The players profiled in the report are Alpine Electronics, Inc., Audi AG, BMW Group, Bridgestone Corporation, CEAT Limited, Continental Corporation, DENSO Corporation, HARMAN International, Hyundai Mobis, Ford Motor Company, Koninklijke Philips N.V., JK Tyre & Industries Limited, MRF Limited, Osram Licht AG, Panasonic Corporation, Pioneer Corporation, Robert Bosch GmbH, Stanley Electric Co., Ltd., The Goodyear Tire & Rubber Company, Visteon Corporation, and Volkswagen AG.

Passenger Car Accessories Aftermarket Regions