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Allied Market Research

Automotive Side Step Market by Application (Front Door, and Rear Door), Product (Aluminum Side Step, Steel Side Step, and Plastic Side Step), and Vehicle Type (Passenger Vehicle, and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12246
Pages: NA
Sep 2021 | 45 Views
   
Author(s) : Sonia Mutreja
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Charts: NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Automotive Side Step Market Outlook 2030 -

Automotive side step enables easy entry and exit from vehicles. The side step is fitted at the at the bottom of the doors of the vehicle. It primarily reduces the gap or space between the ground and the vehicle to enable easy & comfortable entry & exit. Automotive side steps are made of different shapes & sizes in order to enhance their lifespan & durability. Changing preferences of customers toward heavy duty and multi utility vehicles is expected to fuel the demand of the automotive side step in the market during the forecast period. Demand for automotive side step is significantly high in the aftermarket. However, the installation of aftermarket automotive side step is difficult and expensive. High rate of adoption of latest technologies in North America and Europe is expected to drive the market for automotive side step in these regions during the forecast period.

Market scope and structure analysis:

Report Metric

Details

 Market size available for years

 2020–2030

 Base year considered

 2020

 Forecast period

 2021–2030

 Forecast units

 Value (USD)

 Segments covered

 Application, Product, Vehicle Type, and Region

 Regions covered

North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa)

 Companies covered

Ionic Automotive, Bryant Motors, CURT Manufacturing LLC, Mr. Kustom Chicago, Iron Cross Automotive, 4wheelparts.com, Lund Truck Accessories, AMP Power Step, Raptor, and Trail FX.

 

COVID-19 Impact analysis

Many companies have claimed that the disruption in the supply of components from various countries due to the outbreak of COVID-19 is estimated to impact the companies' planned production. The ongoing COVID-19 in several countries has affected the supply of many components to companies manufacturing facilities. Almost every worker in every company has been affected due to the pandemic as there are jobs and salary cuts by companies. COVID-19 has forced the automotive industry to re-think its business. The premium segment is expected to revive soon in the market, but it is estimated to take a long time to get back on track for the entire market after the lockdown.

Top Impacting Factors

  • Growing vehicle sales & production in emerging countries, changing preferences of customers toward heavy duty & multi utility vehicles, and technological development are driving the growth of the market.
  • Surge in demand for small & lightweight vehicles, and fluctuating prices of raw materials used in manufacturing side step is a key factor that is likely to hamper the demand of the automotive side step in the market.
  • Increasing per capita income and rising concerns about comfort among customers can be seen as an opportunity for the market investments.

The automotive side step market trends are as follows:

Fluctuating prices of raw materials used in manufacturing side step

The raw materials used to produce a side step consist of materials such as plastics, metal sheets, and plating material. The plating materials used is usually noble metals, the prices of which fluctuates in the market, which in turn causes variation in the price of the side step produced, restraining its growth in the market. The cost of metal regularly fluctuates in the market, further varying the cost of the side step. All these reasons restrain the growth of automotive side step market.

Growing vehicle sales & production in emerging countries

Vehicle sales and production is increasing in developing nations as a result of increased disposable income of consumers, rapid industrialization, and urbanization. Rapid technological advancements and infrastructure growth in developing countries has led to rise in demand for vehicles. Growth in the automotive side step market is directly proportional to the production and sales of vehicles. The average disposable income of people in developing countries has increased, owing to growing economies in developing countries, and has led to the higher standards of living of people in developing countries. This high growth in sales has led to an increase in demand for automotive side step. The vehicle parc volumes in the developing countries have also increased in past five years and are projected to continue growing. The primary reason for this growth is increase in average life of vehicles, and growing production and sales volume. The developing nation, owing to their higher vehicle parc volumes, becomes a potential opportunity for automotive side step aftermarket.

Key segments covered:

Segments

Sub-segments

 Application

  • Front Door
  • Rear Door

 Product

  • Aluminum side step
  • Steel side step
  • Plastic side step

 Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

 Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key benefits of the report:

  • This study presents the analytical depiction of the automotive side step market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive side step market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the automotive side step market growth scenario.
  • The report provides a detailed automotive side step market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the automotive side step market research report:

  • Which are the leading market players active in the automotive side step market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the automotive side step market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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