How To Turn Your Automotive Skid Plate Market From Blah Into Fantastic

The global automotive skid plate market will grow at a CAGR of about 15% during 2018-2023, and the market size will increase by 58.87 million units during 2019-2023. The market’s growth momentum is expected to accelerate throughout the forecast period.
North America was the largest market in 2018, and its position will remain the same during 2019-2023. Market growth in this region will be faster than the growth of the market in other geographies. Over 52% of the overall market growth will originate from this region, and the US will offer maximum growth opportunities to market participants.
Some of the key findings from our automotive skid plate market forecast report are summarized below

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Automotive skid plates are used in SUVs, pickup trucks, ATVs, and adventure motorcycles. In 2018, the primary application of automotive skid plates was in SUVs, and this segment’s position will remain unchanged throughout the forecast period. During 2019-2023, the growth rate of the SUV segment will be faster than the global market growth.
The market is fragmented, and the degree of fragmentation is expected to remain the same till 2023. The accelerating growth will provide immense growth opportunities to market participants. To make the most of the opportunities, automotive skid plate companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
This market report provides a detailed analysis of the market by application (SUV, pickup truck, ATV, and adventure motorcycle) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including All-Pro Offroad, Asfir Technologies Ltd., Cycra Inc., RCI Offroad, Ricochet Off-Road, Setina Manufacturing Inc., and Zone Offroad Products.

Global automotive skid plate market: Key drivers and trends

The popularity of recreational activities such as off-roading and adventures is increasing among consumers. Factors such as the growing awareness about recreational activities, increasing disposable income, and the increasing number of off-road enthusiasts have boosted the demand for off-road motorcycles. To cater to this rising demand and gain a competitive edge in the market, established automakers have increased their product offerings. With the rising demand for off-road motorcycles, the need for automotive skid plates will also grow as it is offered as a standard fitment in such motorcycles.
The demand for SUVs especially the compact and small size segment is increasing in emerging countries of APAC such as India and China. The high growth prospects in these regions have encouraged automakers to differentiate their products by offering best-in segment features and functionalities. Several vendors are offering design elements such as skid plates to enhance the exterior appearance of their vehicles. This increasing availability of bumper skid plates as OEM fitment in compact SUV and crossovers will influence the growth of automotive skid plate market size during the forecast period. As a result of these factors, the market will register a CAGR of about 15% during 2019-2023.