Car Covers Global Market Report 2024

The car covers market size has grown steadily in recent years. It will grow from $8.37 billion in 2023 to $8.72 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth observed in the historic period can be attributed to the emergence of automobiles, early needs for weather protection, foundational material innovations, and initial consumer demand for car covers.

The car covers market size is expected to see steady growth in the next few years. It will grow to $10.02 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to urbanization and parking challenges, the expansion of the aftermarket sector, an increase in automotive ownership, integration with smart and connected car technologies, and a growing focus on sustainability and eco-friendly solutions. Major trends expected in the forecast period include a demand for customization and tailored fit, ongoing material innovation, versatility in protection features, enhanced durability and longevity of car covers, and increased consumer awareness regarding the importance of vehicle protection.

The anticipated growth in the demand for passenger cars is expected to drive the expansion of the car covers market. Passenger cars, designed for personal or family use, are smaller in size compared to commercial vehicles and are used for transporting passengers. Car covers play a crucial role in protecting, maintaining, and providing convenience to passenger cars, effectively guarding them against environmental hazards and extending their lifespan. Reports from the European Automobile Manufacturers Association in May 2023 revealed that the European Union produced 10.9 million passenger cars in 2022, marking an 8.3% increase from 2021. Thus, the increasing demand for passenger cars is a key factor propelling the growth of the car cover market.

The growing cost of cars is expected to further contribute to the expansion of the car cover market. As the cost of car ownership rises, including insurance and car prices, car owners are becoming more aware of the need to protect their valuable investments. The increased cost of cars indirectly benefits the car cover market, prompting consumers to prioritize the maintenance and protection of their vehicles. For instance, a report by TransUnion in May 2023 highlighted that the typical monthly payment for a new car increased to $736 in the first quarter of 2023 compared to $585 in 2021. Consequently, the escalating cost of cars is a driving force behind the growth of the car cover market.

The substantial cost of automotive fabric is expected to present a notable challenge, hindering the growth of the car cover market. The high cost of automotive fabric refers to the elevated prices of materials utilized in the production of fabrics for the automotive industry. The expense of raw materials, including synthetic fibers such as polyester, nylon, or blends, can significantly impact the overall cost of fabrics used in the manufacturing of car covers. For example, in December 2022, as reported by CCF Group, a US-based company offering information and unbiased intelligence for petrochemicals and chemical fibers, the average price of Paraxylene (PX) material used in the production of polyester, such as film, fiber, and polyethylene terephthalate (PET), was $1119/mt, marking an increase of $259 over 2021. Consequently, the elevated costs associated with automotive fabrics are impeding the growth of the car cover market.

Key players in the car covers market are focusing on innovation, introducing products such as Covercraft multi-layer vehicle covers to enhance protection, extend vehicle lifespan, and improve overall comfort. Covercraft multi-layer vehicle covers are custom-fit car covers crafted from premium, non-woven, multi-layer fabrics. These covers are designed to offer maximum protection against environmental elements. In August 2021, Covercraft Industries LLC, a US-based car cover manufacturing company, launched this innovative line of custom vehicle covers. The covers feature a custom-fit design, precise fit, warranty, and protection against dust, dirt, debris, as well as safeguarding against fading and cracking caused by the sun's ultraviolet rays.

In August 2021, Audax Private Equity, a US-based alternative investment firm, acquired the majority stake in Covercraft Industries LLC for an undisclosed amount. This strategic acquisition positions Audax to provide Covercraft with the necessary capital for business growth, aiming to tap into substantial growth potential. Covercraft Industries LLC is a US-based manufacturer specializing in car covers and car protection products.

Major companies operating in the car covers market report are Confezioni Andrea Italia Srl, Easepal Enterprises Limited, WeatherTech, Intro-Tech Automotive, ShelterLogic, Zhejiang Mingfeng Car Accessories, Coverking Inc., DOWCO Inc., AutoAnything, ADCO Products LLC., Budge Industries LLC, Smittybilt Inc., OxGord Inc., EmpireCovers, Elegant Auto Accessories, Autoform, MacNeil Automotive Products Limited (US), A1 Car Covers, Blue Magic Inc., California Car Cover Co., CarCapsule, Classic Additions Ltd., Coverwell, FH Group, Formosa Covers, Gator Covers, Polco Pvt. Ltd., Rampage Products LLC., Xcar Ltd.

North America was the largest region in the car covers market in 2023. The regions covered in the car covers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the car covers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The car covers market consists of sales of outdoor car covers, custom-fit car covers, sunshade car covers, heavy-duty car covers, and universal fit car covers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The main types of car covers are conventional, automatic, and semi-automatic. In the context of car covers, conventional products refer to traditional types of covers made from materials. These covers are distributed through both store-based and non-store-based channels, catering to various end-users, including individuals and vehicle manufacturers.

The car covers market research report is one of a series of new reports that provides car covers market statistics, including car covers industry global market size, regional shares, competitors with a car covers market share, detailed car covers market segments, market trends and opportunities, and any further data you may need to thrive in the car covers industry. This car covers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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