increasing demand for luxury cars is driving the Car Bumper Guard Market in US
Technavio analyzes that the Car Bumper Guard Market in US is expected to grow at a CAGR of 7.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 693.1 million.There are various factors that contribute to the growth of the market. The Car Bumper Guard market in the US is experiencing significant growth due to the increasing popularity of luxury cars. With an escalating number of consumers opting for high-end vehicles, the demand for bumper guards to protect their investments from minor accidents and scratches is on the rise. These guards offer both aesthetic and functional benefits, making them an essential accessory for luxury car owners. Additionally, the trend towards personalizing vehicles further boosts the market for customized bumper guards.
The commercial vehicle sector in the US car bumper guard market holds a substantial market share, projected to expand steadily over the forecast period. This growth can be attributed to the extensive usage of commercial vehicles, such as delivery vans, trucks, and utility vehicles, on highways, where collision risks are elevated. Companies and fleet operators are investing in bumper guards as a cost-effective solution to safeguard their vehicles from minor accidents. These guards ensure a decrease in repair expenses and downtime. Designed with robustness in mind, bumper guards for commercial vehicles predominantly utilize materials like rubber and reinforced plastic, which provide durability and flexibility.
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Car Bumper Guard Market in US Segmentation
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A Car Bumper Guard is a protective component designed to shield vehicles from minor damages such as scratches and dents caused by fender benders or parking mishaps. These guards come in various forms like stick-on, truck-mounted, and hitch-mounted, providing different levels of protection. Investing in high-quality bumper guards can save money in the long run by preventing major damages and preserving resale value. Material, thickness, and weather-resistance are essential factors to consider when choosing a guard. Trusted brands offer reliable aftermarket bumper guards, universal or direct-fit options, and easy installation processes. Protect your vehicle from tailgating damages with these protective films or thick guards.
The Car Bumper Guard market in the US is a segment of the larger Automotive Components and Equipment industry, which 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's market analysis, the global automotive components and equipment market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for this market include the increasing demand for electronic components in automobiles, such as Electronic Control Units (ECUs) and other electrical components, due to the rising sales of electric vehicles, motorcycles, and passenger cars in the past decade. Additionally, the constant need to protect vehicles from parking lot mishaps, like fender benders, and resulting scratches further boosts the demand for car bumper guards.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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