China and countries in Western Europe are increasingly encouraging the electric and hybrid
vehicle purchases to regulate the fuel emissions and optimize their environmental impacts
through government incentive plans, tax exemptions and dedicated parking spaces among the
few other initiatives to encourage ownerships of these vehicles. In conjunction with the high
growth market for these vehicles, increasing sales figures of other conventional vehicles is
expected to provide potential growth prospects over the next few years. According to
Organisation Internationale des Constructeurs d’Automobiles (OICA), international sales of
vehicles witnessed an increase of around 4.65%, accounting for a Y-o-Y increase of over 93
million units in 2016.
Utilization of natural fibers in the manufacturing is expected to drive the demand
growth
Increased usage of natural fibers in the manufacturing processes is a major trend gaining
traction in the industry. These natural fiber polymer composites are environment-friendly,
lightweight, and bio-degradable. Moreover, according to our research, incorporation of natural
fibers can reduce over 25% of the vehicle weights in comparison to other glass reinforced fibers.
These enhanced features are expected to provide large growth potential to the automotive
mudguards market.
Passenger cars are expected to dominate the industry segment demands over the
forecast period
Passenger car segment dominated the overall automotive mudguards market share in 2016, and
is expected to continue its dominance over the next few years. Its growth can be attributed to
large inclination of consumers towards owning cars, proliferation of commercial usage of
automobiles such as car sharing and cab aggregators, and the pre-existing large consumer base
across the globe. Moreover, large presence of aftermarket players that offer custom-made
solutions to enhance the vehicle aesthetics and performance, will also continue to contribute to
the
industry
growth.
Browse More About the Market Study @
https://www.coherentmarketinsights.com/ongoing-insight/automotive-mudguards-market-621
Asia Pacific will continue its dominance in the automotive mudguards market
Asia Pacific held the largest industry share in 2016 and is expected to continue its dominance,
primarily owing to the presence of the world’s largest automobile market, China and the fastest
growing automotive market in India. Growing employment opportunities have led to substantial
per capita income and the affording capability of the population in the region. Moreover,
increased spending on road infrastructure and manufacturing activities in the region will drive
the growth of commercial and passenger vehicle demands. This will provide the required boost to