Latest News- Automotive Wrap Films Market: Light-duty vehicles is expected to lead the Application segment during 2024-2028

The Automotive Wrap Films Market is being driven by Advertisements on automotive wrap films help capture audience attention

The Automotive Wrap Films Market is expected to grow at a CAGR of 21.84% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10139.2 million. In the dynamic world of marketing, automotive wrap films have emerged as a cost-effective and impactful advertising solution for businesses. With the rising trend of mobile advertisements, fleet vehicle wraps offer an unparalleled opportunity to reach a broad and diverse audience. Compared to traditional marketing channels such as billboards, print, and broadcast media, fleet advertising presents significant cost benefits. By utilizing automotive wraps, companies can effectively improve their brand image, increase sales velocity, and reduce overall marketing expenses. These advantages are poised to fuel the expansion of the automotive wrap films market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Light-duty vehicles
  • Medium-duty vehicles
  • Heavy-duty vehicles
• Type
  • Cast film
  • Calendered film
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advertisements on automotive wrap films help capture audience attention
• Significant cost reduction in comparison to re-spraying and traditional advertising
• Automotive wrap films increasing the resale value of automobiles

However, the market also witnesses some limitations, which are as follows:

• Automotive wrap films require regular maintenance
• Volatility in raw material prices
• Low consumer awareness

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Market Scope in Automotive Wrap Films Market Research Report

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Research Analysis Overview

The Automotive Wrap Films market encompasses various types of films used for vehicle customization, including color wraps that offer flexibility in color options for a paint makeover. These films are not only used for aesthetic purposes but also serve functional benefits such as UV protection, heat reduction, glare reduction, and enhanced privacy. They are suitable for heavy vehicles and luxury cars, and can be used for mobile marketing and OOH advertising. The market includes cast films and calendared films, with advanced technologies like nano-ceramic films, self-healing coatings, and smart films. Vehicle owners can choose from a range of colors like matte black and matte orange, and the films provide safety and security, making them a popular choice for both passenger cars and commercial vehicles. (51 words)

Market Research Overview

The automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by these manufacturers. Factors driving growth in the automotive components and equipment industry include the rising demand for electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, fueled by the increasing sales of EVs, motorcycles, and PCs in the past decade. Additionally, customization trends, like color wraps in matte black and orange, and mobile marketing applications for heavy vehicles and large vans, contribute to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/