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Allied Market Research

License Plate Frame Market by Type (Fabric and Polyvinyl) and Application (OEMs and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Aug 2021 | 387 Views
   
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COVID-19

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License Plate Frame Market Outlook – 2027

The license plate frame provides protection to the car's number plate. In addition, the frame protects car number plates with any kind of damage, is easy to use, easy to fix, and is made of high-quality plastic.

License Plate Frame Market

Moreover, use of plastic cover can prevent laser radar detectors from using the license plate as a reflective source, forcing the officer to use taillights, as they are much harder to hit and not nearly as useful since they always emit light. The license plate frames are not typically standard equipment on a vehicle, but they are a pretty standard accessory. Therefore, millions of cars and trucks on the road have some kind of license plate frames. Therefore, growing automobile industry is expected to further drive the growth of the license plate frame market during the forecast period.

  scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type and application

  Regions covered

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

  Companies covered

3M, Amphenol, Bel, Belden Wire & Cable, Bulgin, ERNI Electronics, Essentra, Fluke, Glenair, and Moles

 

COVID-19 scenario analysis:

  • The COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive industry.
  • The COVID-19 pandemic has led to many changes in car-buyer behavior and attitude. Digital services and features are being readily accepted by people as a way to stay connected, trackable, and safe.
  • The increasing penetration of in-vehicle screens will lead to the easy integration of many of these digital features, which will boost eventually due to the pandemic.
  • COVID-19 is poised to become one of the most severe public health and economic crisis the world has ever faced in the 21st century.
  • The sweeping loss of human lives and labor productivity is likely to impact various sectors and general lifestyles over the period.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Some of the factors that boost the market growth include rise in urban population and high demographic rates, rapid motorization, increase in number of road fatalities/accidents, and government initiatives for enhancing road safety. However, lack of standardized and uniform technologies is anticipated to hamper the growth of the market. Furthermore, designing and developing connected vehicles compatible with its public-private partnership ecosystem and open data movement are expected to offer lucrative opportunities for the market during the forecast period.

The license plate frame market trends are as follows:

Rise in urban population

As half of the world’s population now lives in urban areas increasingly in highly dense cities. However, urban settings are a relatively new phenomenon in human history. This transition has transformed the way we live, work, travel, and build networks. The growing urban population across the globe in many developed cities has created a huge market and the demand as well which forced manufacturers to innovate & manufacture the automotive industry. Therefore, increase in urbanization over the globe is expected to boost the growth of the automotive industry, which further drive the growth of the license plate frame market during the forecast period.

An increase in number of road fatalities/accidents

The road accident severity measured has drastically increased by the number of people killed per accidents. Hence, the severity of road accidents has attracted the attention of the ministry of road transport and highways of every developed and developing economies across the globe. The government initiatives for enhancing license plate visibility are expected to boost the growth of the road license plate frame market during the forecasting period.

Key segments covered:               

Segments

Sub-segments

  Type

  • Fabric
  • Polyvinyl

  Application

  • OEMs
  • Aftermarket

 

Key benefits of the report:

  • This study presents the analytical depiction of the license plate frame market industry 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 a detailed analysis of the license plate frame market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the license plate frame market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed license plate frame market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the license plate frame market research report:

  • Which are the leading market players active in the license plate frame market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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