The Rising Demand of Automobiles to Boost Automotive Mudguards Market Growth
Automotive Mudguards Market Products (Natural Fiber, Aluminum, Polymer Fiber), Applications (Passenger Vehicle, Commercial Vehicle) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
The global
Automotive Mudguards Market is estimated to be valued at US$ 29.2 billion in 2021 and is expected to exhibit a CAGR of 4.03 % over the forecast
period, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive Mudguards is a kind of automotive commodity that inhibits
dirt and mud from coming in contact with the automotive wheel well. This
inhibits corrosion and erosion and lets the paint job look fresh. Mud Flaps are
not continually fixed by producers, however, they can be a better choice for
securing the car from road wreckage and weather. They are a comparatively low-cost addition to the automotive and can be an important expenditure for any
driver who often travels in rough weather problems. They also aid secure the
underbearing of the automobile from erosion and rust that may take place with
time.
Competitive Landscape:
Key players involved in the growth of global
Automotive Mudguards Market are MrMudguard, KWIK PEYT Mud Flaps,
FeatherWing, Rhino Manufacturing, KN Rubber and Jonesco
Market Key Drivers:
The rising demand of automobiles is expected to boost the growth of global
Automotive Mudguards Market. For instance, around 23.2 million units commercial
vehicles were produced in 2021.
The rise in electric vehicles is projected to propel the growth of the global Automotive Mudguards Market. For instance, as per IEA, around 6.5
million units of electric vehicles were sold across the globe in 2021.
Covid-19 Impact Analysis:
The covid-19 outbreak has adversely affected the growth of the global Automotive
Mudguards Market due to the strict lockdown. The disruption in the supply chain and
closure of manufacturing and production units has impeded market growth.
The restriction on transporting things from one place to another hindered the
growth of the market.
Key Takeaways:
The global Automotive Mudguards Market is anticipated to exhibit a CAGR
of 4.03 % during the forecast period owing to the rising sales of luxury cars
worldwide. For instance, as per a published report, around 22,500 units of luxury
cars were sold in 2021 across the globe.
Among regions, North America, Europe and Asia Pacific are expected to
witness robust growth in global Automotive Mudguards Market due to rising luxury
car sales, increasing demand of electric and commercial vehicles, and rising
regulatory requirements. For instance, around 31.4 million vehicles were sold
in U.S. in 2021.
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