New York, US, March 15, 2023 (GLOBE NEWSWIRE) -- Car Covers Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Car Covers Market Information By Product Type, End User, Distribution Channel, And Region - Forecast till 2030"; the market will reach USD 1021.12 million by 2030 at a 3.2% CAGR.
Market Synopsis
Car covers protect vehicles parked both inside and outside from the potentially harmful effects of many environmental calamities, such as heavy downpours, sunshine, storms, and snowfall. Car covers protect the car from salt air, UV rays, dampness, grime, dust, tree sap, bird droppings, and other contaminants. The fundamental factor propelling the global market for car covers is the increased consumer awareness of the importance of maintaining and protecting their vehicles, significantly increasing the pace at which these goods are purchased. Overall demand for car covers has increased due to the booming automotive sector. The increase in awareness of safety issues is a significant element that is anticipated to fuel the growth of the car cover market in the coming years. The demand for car covers to shield vehicles from the elements has grown as the number of private vehicles on the road has increased. Also, there is a growing need for car covers for outside parking due to the shortage of parking spaces.
Also, online e-retailers have significantly increased their penetration throughout the many shopping platforms to sell their equipment and accessories, creating growth potential for the market. The main element influencing the market share for car coverings is the rising public awareness of vehicle safety. Car covers shield the paint and electronic components from damaging sunrays and shield the vehicle from the elements such as bird droppings, tree leaves, stones, and other tiny objects. Car covers are increasingly being purchased thanks to these uses and advantages. Yet, vehicle coverings have certain disadvantages, such as the potential to scratch the car's paint if the cover does not fit snugly, owing to friction. The introduction of automated and semi-automatic car covers is the main emphasis of the industry's key players. A significant portion of the market for car covers is expected to be captured soon by automatic car coverings, a growing phenomenon in the industry. Also attracting clients and creating a more opportunistic car cover industry are semi-automatic car covers.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 1021.12 million |
| CAGR | 3.2% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, End User, Distribution Channel, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Awareness Regarding the Safety of The Vehicle |
| booming automotive sector has increased demand |
Market Competitive Landscape:
The vital contenders in the car cover market are:
- Polco Pvt. Ltd (India)
- MacNeil Automotive Products Limited (US)
- Coverwell (India)
- Rampage Products (Georgia)
- Confezioni Andrea Italia Srl (Italy)
- California Car Cover Co. (US)
- Classic Additions Ltd (UK),
Market U.S.P. Covered:
Market Drivers:
Due to rising consumer disposable income, significant variations in customer living standards, and growing demand for cars, especially automobiles, the global market for car coverings is anticipated to grow rapidly over the projected period. The need for car covers is anticipated to increase as consumers become more conscious of the importance of vehicle safety. Car coverings shield parked cars from the potentially dangerous effects of natural disasters like snowfall, sunshine, rain, and storms. The rise of the automotive sector is one of the additional elements that influence expanding the market share for car coverings. The need for automobile covers is growing due to climate change and global warming. Also, the growing demand for cars is driving up the price of car covers. Throughout the forecast period, it is projected that this will result in higher sales of car covers.
It is further anticipated to fuel the development of the car cover market are the expanding applications and benefits of car covers, such as their ability to protect vehicles from debris, filth, sap, leaves and branches, bird droppings, dampness, and other elements. Also, it is predicted that increased demand for automobile covers due to climate change and expanding global warming will restrain the market's expansion. Government-enforced stay-at-home rules, which forbade individuals from ever leaving their houses, significantly impacted the need for automobile covers. This development has resulted in a huge increase in the sales of car covers. Car covers are selling well since customers increasingly park their vehicles outside their residences. Since car coverings shield vehicles from dust, tree leaves, debris, filth, dampness, UV rays, bird droppings, salty air, and other pollutants, there will be a strong need for them in the future.
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Market Restraints:
On the other hand, the possibility of the paint of the automobile being harmed due to friction between the car cover and the car is expected to obstruct and could complicate the expansion of the car cover market in the future.
COVID 19 Analysis
The closure of industries has significantly impacted the manufacturing and processing of numerous commodities and consumer items. The interest in non-essential commodities decreased because these are the only things needed to survive amid the crisis. Also, the pandemic has caused a decline in the production of autos and accessories, slowing consumer demand for such goods. They reduce the need for cars and associated accessories, such as car covers.
Market Segmentation
By distribution channel, the market includes store-based, specialty stores, supermarkets & hypermarkets, and non-store-based. By product type, the market includes conventional, automatic, and semi-automatic. By end use, the market includes individual and vehicle manufacturers.
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Regional Insights
Due to the increased adoption of novel technologies and tools and rising spending on automotive equipment and accessories, the North American region is predicted to hold a dominant market position in the global market for car covers. The heavily developed automotive industries in the United States and Canada promote various supplies for various types of vehicles. The region has a well-established automotive industry, and both established businesses and up-and-coming vendors have engaged in a worldwide competition to offer the best-in-class vehicle accessories, such as car covers, which is projected to create significant potential prospects for the regional market. The expansion of local market participants will also contribute to the region's car cover market growth over the projection year. Due to the increased disposable income, the car cover industry is anticipated to expand significantly in Asia-Pacific. Additionally, it is projected that in the upcoming years, the rising standard of living will further fuel the expansion of the vehicle cover market in the area.
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