The global Automotive Mudguards Market is estimated to be valued at US$9.03 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive mudguards are protective guards installed on vehicles to protect vehicles and prevent mud, dirt, stones and other debris from being thrown up onto the vehicle body or windows by the rotating wheels. Mudguards help keep vehicles clean and reduce maintenance costs.
Market key trends:
One of the key trends in the automotive mudguards market is the increasing demand for aftermarket mudguards. Aftermarket mudguards are purchased separately post vehicle purchase for vehicles that do not come equipped with mudguards from the factory. Aftermarket mudguards allow consumers to customize their vehicle appearance and add protection from debris. The aftermarket offers a variety of mudguard designs, styles, sizes and materials to choose from as per one’s vehicle type and preference. This flexibility and customization potential of aftermarket mudguards is fueling their heightened demand.
Market key trends:
3D printing technology is gaining popularity in the automotive mudguards market. Manufacturers are increasingly adopting 3D printing to produce complex and customized mudguard designs with reduced lead time. 3D printed mudguards offer advantages such as lightweight design, durability, and cost-effectiveness.
SWOT Analysis
Strengths: Mudguards prevent debris and stones from hitting the vehicle body, thus reducing repair costs. They also protect pedestrians and other vehicles from mud splashes.
Weaknesses: Standard mudguards made of plastic or rubber materials can crack or break if hit by large debris. Their mounting to the vehicle requires additional assembly time.
Opportunities: Growth of all-terrain vehicles and off-roading activities is increasing demand for rugged and durable mudguards. There is also scope for developing smart and aerodynamic mudguard designs.
Threats: Stringent vehicle emission and efficiency norms may reduce focus on aesthetic mudguard designs. Economic slowdowns can decrease discretionary spending on aftermarket mudguard products.
Key Takeaways
The global automotive mudguards market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing vehicle production and sales globally. The market size for 2023 is estimated to be US$ 9.03 Bn.
The Asia Pacific region dominates the automotive mudguards market with a share of over 40% in 2023, led by countries such as China, India, and Japan. This is attributed to the large vehicle parc and increasing demand for premium and luxury vehicles fitted with premium mudguards.
Key players operating in the automotive mudguards market are MrMudguard, Rhino Manufacturing, FeatherWing, KN Rubber, Jonesco, KWIK PFYT mud flaps, FIEM Industries, and Sant Manufacturers. Leading players are investing in advanced manufacturing technologies to develop lightweight and durable mudguard designs tailored for specific vehicle models and applications.
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