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The aftermarket segment is expected to demand decorative car accessories more than the original equipment manufacturer (OEM) segment. As compared to the original equipment manufacturer (OEM), the aftermarket segment offers less expensive and a wide variety of design and material options. Due to the rising sales of passenger cars, the pace will be picked up by the decorative car accessories market size during the assessment period. As the customization of cars continues to create a buzz among consumers, the decorative car accessories market may be able to grow greatly.

It is anticipated that the decorative car accessories market may surge at an exponential pace as attractive accessories are readily available and various advantages associated with them are becoming increasingly apparent. In order to give your car a better and smart look, decorative car accessories are heavily promoted. In addition to that, some accessories are used to protect the car from certain damages.

Key Takeaways

The growing automotive industry around the globe is expected to flourish in the decorative car accessories market. There is a significant surge in vehicle sales and consumers increasingly spend more on vehicle ornaments, this is expected to bolster the market throughout the forecast period.
With the advent of technological advancements, sales of new vehicles are expected to propel the demand for the global decorative car accessories market. Furthermore, passenger vehicle production is drastically increasing, which is expected to bolster demand for decorative car accessories.
According to FMI predictions, the demand for decorative car accessories is expected to rise owing to the shifting consumer behavior and the desire to give their vehicles a luxurious appearance. Decorative car accessories are being consumed in order to enhance the appearance of their vehicles. In addition, they want to improve the driving experience with their cars.
A notable growth is registered in the rise of the decorative car accessories market due to the availability of a wide range of accessories that can be customized in terms of design & material.
Competitive Landscape

Due to the widespread awareness of sustainability among the global population, key manufacturers in the decorative car accessories market are anticipated to shift towards producing sustainable products. Prominent market players are banking on green car accessories in order to increase the popularity of their products among consumers.

A significant rise in the popularity of sustainable and eco-friendly products is seen in every industry and the decorative car accessories market is no exception. Manufacturers have recently made car seats from bamboo fibers; these seats are bacteria-resistant and environmental friendly at the same time. Attributed to these factors, the decorative car accessory market has witnessed positive growth prospects as a result of such developments.

Key Companies Profiled

Delphi Automotive
Robert Bosch GmbH
Continental AG
Denso Corporation
Magna International
Aisin Seiki Co. Ltd.
Tenneco Inc.
Federal-Mogul Corp.
For more information: https://www.futuremarketinsigh....ts.com/reports/decor
Key Segments Profiled in the Decorative Car Accessories Market Survey

By Product Type:

Interior
Exterior
By Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Distribution Channel:

Online Store
Offline Store
By Region:

North America
Latin America
The Asia Pacific
MEA
Europe
More Insights into Decorative Car Accessories Market

Europe is anticipated to dominate the global decorative car accessories market by accounting for 28% of the global market. Surging sales of passenger cars in the region are projected to propel customer affordability and increased expenditure on upgrading and customizing vehicles.

Growing consumers' desire to give their cars a more aesthetic and appealing look is likely to drive the growth of the market in Europe. Several car accessories are emerging with pet-friendly features and are also laying the red carpet for growth in the European decorative accessories market.

North America is also seen as a lucrative market by accounting for about 18% of the total revenue in the global decorative car accessories market. On the basis of the consumer base, the North American decorative car accessories market is the largest contributor. As a result of stable automotive sales, the market is expected to grow at a healthy rate.

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ISO 45001 is an international standard for occupational health and safety management systems. It provides a framework for organizations to identify and manage their health and safety risks, improve their performance, and comply with legal and regulatory requirements. Some of the benefits of implementing an ISO 45001 management system are:

Improved health and safety performance: By implementing an ISO 45001 management system, organizations can identify and assess their health and safety risks, and take actions to prevent or mitigate them. This can lead to a safer and healthier workplace for employees and can also reduce the risk of accidents, injuries, and illnesses.

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Global sales of Two Wheeler Aftermarket Components & Consumables Market Size are set to be valued at over US$ 55.33 Bn in 2031, as per Future Market Insights (FMI). The market is poised to expand at over 7.8% CAGR due to the growing sales of two wheelers worldwide.

Key Takeaways from Two Wheeler Components & Consumables Aftermarket Study

Standard motorcycle segment is projected to hold over 26% volume share of the global market in 2021 and will continue exhibiting robust demand for consumables.
Demand for consumables is set to hold over 60% of the market share in terms of value by the end of forecast period.
South Asia & Pacific is expected to remain a primary market backed by rising demand for two wheelers in the region. It is expected to account for over 34% of the market share in 2021.
Online sales channels segment is set to surge at CAGR of approximately 8.1% over the coming decade.
India is emerging as a key market, totaling US$ 4.5 Bn in 2021 and it is forecast to register 9.4% CAGR in the forecast period.
“Increasing adoption of two wheelers, especially across India, China, and Germany, has compelled the manufacturers to form strategic alliances with local distributors and independent dealers to strengthen their position in the industry. This will continue fuelling the demand in the market,” says a Future Market Insights analyst.

According to Future Market Insights, increasing adoption of two wheelers for personal use is setting the demand high for aftermarket components and consumables for two wheelers. Sales of two wheelers are increasing at a robust pace across developing countries such as India, Indonesia, Vietnam, and Brazil.

Coupled with this, the increasing demand for components and consumables for two wheelers in China, Japan, the U.S. and Germany will create lucrative growth opportunities for the market. As per the study, Asia Pacific will hold the largest share of 57.1%, followed by Europe with 25.2% through 2031.

For more information: https://www.futuremarketinsigh....ts.com/reports/two-w

The two wheeler components & consumables aftermarket observed slight decline in sales volume in 2020 due to the outbreak of COVID-19. Demand from major countries waned due to implementation of lockdown by governments, however, the generated demand was somehow fulfilled by the local suppliers who stockpiled before the pandemic.

Demand for two wheeler components & consumables has been increasing from standard motorcycles segment due to the growing popularity of standard bikes for personal use.

Key manufacturers are expected to invest heavily for market expansion and focus on research and development related to two-wheeler components and consumables to gain competitive edge.

Who is Winning?

The two wheeler components & consumables aftermarket is highly fragmented. Key players will account for around 15-20% of the market share.

In order to gain competitive edge, these companies are likely to invest in new technological advances for the growth of their distribution networks.

Some of the key players in this industry include but are not limited to ZF Friedrichshafen AG, Holley Performance Products, Exide Technologies, Advance Auto Parts, Harley Davidson, Tenneco, Inc., FastBikeGear, Bajaj Auto, Gabriel India Limited, Showa Corporation, KYB Corporation, TVS Motor Company, Foshan Xinmatuo Motorcycle Parts Industrial Company, Hero Motocorp Ltd., Yamaha Motor Company Ltd., Hella KGaA Hueck & Co, OSRAM Licth AG, BMW Group, BITUBO S.r.l.

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