PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326550
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326550
Global Truck Bedliners Market is valued approximately at USD 500.95 million in 2022 and is anticipated to grow with a growth rate of more than 4.2% over the forecast period 2023-2030. Truck bedliner is a protection that is placed or fitted into a truck bed to prevent it from any impact or abrasive damage to the surface material carrying the bedliner. Bedliners are fitted in a truck bed according to the modifications necessary. Spray-on bedliners are more durable and dependable than drop-in bedliners because of their customised design. They help in keeping cargo safe and appear aesthetically pleasing. The desire for luxury, comfort, and driving dynamics among end customers who choose cargo trucks has changed. Due to changes in the market, makers of utility vehicles have created a drive system to meet consumer demands. Due to the growth in the manufacture of medium and heavy-duty vehicles, there is an increase in the need for truck coverings in the automotive sector. Also, increasing usage of pure polyurea in spray-on bedliners is the rising sales of pickup trucks.
The demand for truck covers is increasing in the commercial vehicles industry due to the surge in the production of medium and heavy-duty trucks. According to the IBEF in November 2022, commercial vehicle (CV) industry is likely to post 20-22% volume growth in FY23, continuing the traction seen in the previous year. In FY22, the CV industry saw a 30.7% increase in volume. It grew by 60.2% YoY in the first half of FY23, while year-to-date (YTD) growth (April to October 2022) was 52.3% for the top five players. Additionally, growth in the transportation industry and availability of various colors is anticipated to create the lucrative opportunity for the market during forecast period. However, reliability issues associated with truck bedliners are one of the challenges limiting the truck bedliners market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Truck Bedliners Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 holding the largest market share because of enhanced adaptability, which allows them to be utilised for both personal and business reasons. Truck accessories are getting more popular as the demand for vehicles grows. As a result, the regional market for truck bedliners will rise in parallel with the growth of pick-up truck sales. Furthermore, the expansion of the transport and logistics business is a factor driving up vehicle sales. As a result, the need for truck bedliners is expanding. Asia Pacific is expected to fastest growing during the forecast period, rapid population increase, urbanisation, industrial expansion, and infrastructural development. Rising vehicle sales globally are increasing demand for truck accessories. According to Truck info, medium and heavy commercial vehicle (MHCV) sales in India is predicted to increase by 37 to 42% in 2022 compared to 2021 because to high demand from infrastructure industries such as construction, transportation, mining, steel, and cement. China will sell 1.6194 million heavy cars, 159,000 medium vehicles, 2.1978 million light vehicles, and 708,400 small vehicles in 2020.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable