Asia-Pacific Exterior Car Accessories Market Outlook, 2028

The Asia-Pacific region, which encompasses an area that is 29.3 million square kilometres in size, is home to sixty percent of the total population of the planet. In terms of their total populations, a good number of the countries in this region, notably China and India, are among the most rapidly expanding countries in the world. When one takes into account the continent's growing population, it should not come as a surprise that the continent's economy and sectors are undergoing continuous change. The automotive sector is an example of one of these industries. A rise in the population results in an increase in the need for efficient transportation. It is widely known that this part of the world is home to a few of the most successful automobile manufacturers in the world. Because of the high levels of production in the automotive industry, which encompasses the production of both motor vehicles and aftermarket parts for those vehicles, the region sees a significant increase in the number of sales of both passenger cars and commercial vehicles. Because of this, it has become an essential sector for many Asia-Pacific countries.

According to the research report, Asia-Pacific Exterior Car Accessories Market Outlook, 2028, the market had a USD 60 billion market size in 2022. Asia Pacific is predicted to be the largest market for passenger car accessories due to the presence of major automobile accessory OEMs, higher penetration of connected vehicles in markets like China, Japan, and South Korea, as well as rapidly expanding internet connectivity in Asia-Pacific. Key players are forming new partnerships with automobile OEMs, which are expected to further expand the market for passenger car accessories. The presence of several automotive original equipment manufacturers in the region is driving the market for exterior automotive plastics. Furthermore, raw material availability and low-cost labour have made Asia Pacific the major parts and component manufacturer and exporter. China holds the largest market share and is projected to be the fastest-growing country. Raw material availability, cheap labour, and extensive production technologies are the few factors driving market growth in the country. Additionally, other countries in Asia-Pacific are home to a well-established supply chain network catering to the automobile aftermarket.

The history of exterior car accessories in the Asia-Pacific region can be traced back to the early days of the automotive industry. As car ownership became more widespread, car enthusiasts began to modify their vehicles to enhance performance and style, often using homemade or aftermarket parts. In the 1960s and 1970s, the popularity of car racing in Japan and other parts of Asia fuelled demand for high-performance aftermarket parts, such as exhaust systems, air filters, and suspension components. Companies like HKS, Blitz, and Trust (GReddy) emerged as leading suppliers of these parts, which were often designed for specific models and made of high-quality materials. In the 1980s and 1990s, as the automotive industry in Asia-Pacific grew, so did the market for exterior car accessories. This included body kits, spoilers, alloy wheels, and other parts designed to enhance the appearance of a vehicle. Many of these accessories were produced by small, specialised manufacturers, often in countries like Taiwan, Thailand, and China.

Based on the accessories, the market is segmented into body kits (front and rear bumper kits, spoilers, lip kits, front grilles, tuning hoods, etc.), exhaust mufflers, lights, alloy wheels, chrome accessories, window films, graphic stickers and reflectors, racks, and others (crash guards, side beading, window door visors, licence plate frames, exterior covers, side mirror covers, etc.). Among them, body kits are projected to dominate the market by the end of the forecast period. The Asia-Pacific exterior car accessories market is a large and growing market, driven by factors such as increasing car ownership, growing disposable incomes, and a strong interest in vehicle customization and personalization. The market includes a wide range of products, including body kits, spoilers, alloy wheels, grille guards, lighting, and many other types of accessories. China is the largest market for exterior car accessories in the Asia-Pacific region, due to its large population, strong economy, and growing middle class. Other important markets in the region include Japan, South Korea, India, and Australia. One of the key trends in the Asia-Pacific exterior car accessories market is the growing popularity of e-commerce and online retail channels. Many consumers in the region prefer to shop online for car accessories due to the convenience, wider selection, and often lower prices offered by online retailers. Another important trend in the market is the increasing focus on safety and functionality in exterior car accessories. This includes products such as backup cameras, parking sensors, and other safety features that can help drivers avoid accidents and improve the overall safety of their vehicles.

The Asia Pacific (APAC) exterior car accessories market is projected to witness the highest CAGR over the 10-year forecast period, owing to rising demand for passenger cars and commercial vehicles in countries in APAC, an inclination towards advanced accessories, and rising spending capacity among individuals. The impact of the COVID-19 pandemic on the automotive industry was significant, especially during the initial days of the pandemic, as many suppliers and parts manufacturers upstream or downstream experienced initial regulatory shocks owing to lockdowns. However, as restrictions eased, key players operating across this region started adopting several growth strategies, which were likely to create market momentum during the forecast period. Moreover, with e-commerce penetration, several parts and component manufacturers are investing in online platforms and using Amazon, eBay, etc., to capture the online consumer market. The growth of e-commerce and social media platforms helped fuel the expansion of the exterior car accessory market in Asia-Pacific. Consumers could easily find and purchase a wide range of accessories from online retailers and communicate with other car enthusiasts on forums and social media. Today, the market for exterior car accessories in Asia-Pacific is highly competitive and diverse, with a wide range of suppliers and products available to consumers.

In Asia-Pacific, many countries have regulations in place to ensure that accessories do not compromise the safety or emissions standards of vehicles. For example, in India, the Ministry of Road Transport and Highways has established standards for various car accessories, including exterior ones, and requires that they comply with safety, quality, and environmental standards. In China, the Ministry of Industry and Information Technology requires that exterior car accessories meet certain technical standards and regulations before they can be sold on the market. For example, in Japan, the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) sets safety standards for automotive parts and accessories. In Australia, the Australian Design Rules (ADRs) set standards for vehicle safety and emissions, including requirements for aftermarket parts and accessories. In China, the government regulates the automotive industry through a system of mandatory certification and approval processes that includes the certification of auto parts and accessories. The Chinese government also sets emissions standards for vehicles and may require compliance with certain standards for imported parts and accessories. Other countries in the Asia-Pacific region may have their own regulations and standards for exterior car accessories, and it is important for manufacturers and suppliers to be aware of and comply with these regulations in order to market and sell their products legally.

Exterior car accessories are applied to a variety of cars in the Asia-Pacific region, and the popularity of specific accessories can vary by country and region. However, in general, pickup trucks and SUVs are popular types of vehicles in the Asia-Pacific region, and exterior accessories such as bull bars, side steps, roof racks, and cargo carriers are commonly used on these types of vehicles. The aftermarket sales market for exterior car accessories in the Asia-Pacific region is growing steadily, driven by factors such as rising disposable income, increasing urbanization, and a growing interest in car customization among consumers. Based on the vehicle type, more than 40% of the market share has been occupied by SUVs, followed by mid-sized cars and small cars. Further, the market is categorised into two major distribution channels, including OEM and aftersales. Among them, the aftersales segment is projected to lead the market by 2028. Some of the start-ups related to car exterior accessories include Autoglym, Autowit, Carro, Ozone Car Accessories, and BlackVue.

Many automotive retailers and dealerships in Asia-Pacific offer a wide range of exterior car accessories, including OEM and aftermarket parts. Customers can visit these retailers or dealerships to purchase accessories, and in some cases, they may also be able to get the accessories installed on their vehicles at the same location. The popularity of e-commerce in the Asia-Pacific region has led to the growth of online marketplaces for exterior car accessories. Popular online marketplaces in the region include Amazon, Alibaba, Lazada, Shopee, and Rakuten, among others. Customers can browse through a wide range of accessories, compare prices and features, and purchase them online. In some countries in the Asia-Pacific region, there are specialty shops and garages that focus specifically on selling and installing car accessories. These shops may offer a more personalised experience for customers, and they may specialise in certain types of accessories or brands. Furthermore, car shows and exhibitions are popular events in the Asia-Pacific region, and they often feature displays and demonstrations of the latest car accessories. Customers can attend these events to learn about new products and get ideas for customising their own vehicles. In some countries in Asia-Pacific, there are mobile accessories shops that travel to different locations, such as parking lots or busy streets, to sell car accessories directly to customers. These mobile shops may offer a more convenient option for customers who don't want to travel to a fixed location to purchase accessories.

Recent Developments:

• In March 2021, Toyota announced the launch of a new range of TRD (Toyota Racing Development) accessories for the Hilux pickup truck in the Asia-Pacific region, including countries such as Thailand, Indonesia, and Australia.
• In November 2020, Korean carmaker Kia Motors launched a range of exterior accessories for the Seltos compact SUV in India, including a front and rear skid plate, side step, and a roof rack.
• In October 2020, German automotive supplier Bosch launched a new range of exterior cameras for vehicles in the Asia-Pacific region, aimed at improving safety and providing advanced driver assistance features.
• In January 2022, Indian automotive aftermarket player GoMechanic announced its plans to launch a range of exterior car accessories, including grille guards, roof rails, and side steps, in partnership with international brands.
• In November 2021, Chinese electric vehicle maker NIO launched a range of exterior accessories for its ES8 and ES6 models, including a roof rack, tow hitch, and side steps, as part of its strategy to expand its product offerings.
• In September 2021, Japanese automotive parts manufacturer Denso announced its plans to expand its exterior car accessories business in the Asia-Pacific region, focusing on products such as door mirrors, sensors, and cameras.
• In May 2021, Korean automotive supplier Hyundai Mobis announced the development of an exterior lighting system that uses a projection method to display information on the road ahead, such as lane guidance and warning messages.
• In February 2021, Japanese automotive aftermarket company, Autobacs Seven, announced the launch of a new range of exterior car accessories for the Malaysian market, including body kits, spoilers, and alloy wheels.
• In 2021, Japanese company SEIWA announced a partnership with Australian company T2 Supply to expand their distribution networks in the Asia-Pacific region.
• In 2021, Thule Group, a Swedish manufacturer of outdoor and transportation products, acquired the rooftop tent and awning company, Tepui Outdoors. The acquisition is expected to expand Thule Group's product offerings in the growing market for rooftop tents and awnings.
• In 2021, LKQ Corporation, a U.S.-based provider of alternative and specialty parts for cars and trucks, announced the acquisition of a leading aftermarket distributor in Australia, Covs Parts Pty Ltd. The acquisition is expected to expand LKQ's distribution network in the Asia-Pacific region.
• In 2020, Magna International, a Canadian-based automotive supplier, announced a joint venture with Chinese company Huayu Automotive Systems Co., Ltd. (HASCO) to develop electric drivetrains and related components for vehicles in the Chinese market.
• In 2021, Yakima Products, a U.S.-based manufacturer of vehicle racks and other outdoor gear, announced a partnership with leading Australian distributor, Apollo Retail. The partnership is expected to expand Yakima's distribution network in the Asia-Pacific region and provide more access to its products.
• In 2021, Hella GmbH & Co. KGaA, a German-based manufacturer of lighting and electronics products for the automotive industry, announced the opening of a new production facility in India. The new facility is expected to expand Hella's production capacity for exterior lighting products in the Asia-Pacific region.

Major Companies present in the market:

Oakmoore Pty Ltd., Car Mate Manufacturing Co Ltd, Lund International, Inc., Thule Group, Faurecia Se, Momo Srl., Toyodo Gosei Co Ltd., Magna International Inc., Cie Automotive S.A., Hayashi Telempu Corporation, Kasai Kogyo Co., Ltd., Novares, Samvardhana Motherson, Yakima, Inc.

Considered in this report

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia-Pacific Exterior Car Accessories market with its value and forecast along with its segments
• Country-wise Exterior Car Accessories market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Accessories Type:

• Body Kits (Front and Rear Bumper Kits, Spoilers, Lip Kit, Front Grille, Tuning Hoods, etc)
• Exhaust Muffler
• Lights
• Alloy Wheels
• Chrome Accessories
• Window Films
• Graphic Stickers & Reflectors
• Racks
• Others (Crash Guards, Side Beading, Window Door Visors, License Plate Frames, Exterior Covers, Side Mirror Covers, etc)

By Distribution Channel:

• OEM
• Aftermarket

By Vehicle Type

• Small-sized Cars
• Mid-sized Cars
• SUVs
• MPVs
• Luxury
• Pickup Trucks (Toyota Tacoma, Ford Ranger, Jeep Gladiator, Chevrolet Colorado, GMC Canyon, Hyundai Santa Cruz)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Exterior Car Accessories industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.