New York, July 05, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Automotive Labels Market” published by Consegic Business Intelligence, the market was worth USD 6,971.83 Million in 2022 and is anticipated to reach over USD 10,772.34 Million by the year 2030, growing at a CAGR of 5.7%.
Automotive labels primarily consist of badging and labels such as VIN labels, barcodes, and others that are used for displaying crucial information associated with automobile components, safety, technicalities, usage, and other relevant information. Automotive labels are designed to offer high durability, strength, resistance to UV light, water, and long shelf-life, which makes it ideal for utilization in passenger cars and commercial vehicles among others.
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The increasing utilization of automotive labels in passenger cars is one of the key factors driving the market growth. Moreover, the increasing investments in automobile manufacturing facilities and rising passenger car production are key factors fostering the market demand for automotive labels. For instance, according to the International Organization of Motor Vehicle Manufacturers, the total production of passenger cars in Germany reached 3.5 million units in 2022, depicting an increase of 12.9% as compared to 3.1 million units in 2021. Hence, the rising production of passenger cars is driving the adoption of automotive labels for displaying vital information related to the car’s components, safety, technicalities, usage, and other relevant information, thereby driving the growth of the market.
Additionally, the rising application of automotive labels in electric vehicles is expected to promote potential opportunities for the growth of the automotive labels market. Automotive labels such as instruction labels, battery labels, safety labels, and others are usually integrated into electric vehicles for providing technical information, instructions, and other related information to ensure safe operations of electric vehicles. However, instability in raw material prices utilized in automotive labels is hindering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 10,772.34 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 5.7% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | 3M, Avery Dennison Corporation, Resource Label Group, Brady Corporation, UPM, Polyonics, ImageTek Labels, Weber Packaging Solutions, Advantage Labeling & Packaging Inc., Clarion Safety Systems, Multi-Color Corporation, and LKQ Corporation |
| By Type | Automotive Interior and Exterior Part Instructional Labels, Under the hood Instructional Labels, Glass and Windshields Labels, Battery Labels, and Others |
| By Vehicle Type | Passenger Cars and Commercial Vehicles |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Automotive Labels Market Growth Drivers:
- Rising utilization of automotive labels in passenger cars is driving the market growth.
- Increasing adoption of automotive labels in commercial vehicles is spurring the market growth.
Restraints
- Instability in raw material prices is restraining the market growth.
Opportunities
- Rising application of automotive labels in electric vehicles is expected to promote potential opportunities for growth of the automotive labels market.
Global Automotive Labels Market Segmentation Details:
Based on type, the automotive interior and exterior part instructional labels segment contributed the largest shares to the market growth in 2022. The ability of automotive interior and exterior part instructional labels to provide relevant information associated with the handling and operation of automobiles and maintenance of interior and exterior automobile parts are prime aspects driving the growth of the segment. Moreover, the increasing utilization of interior and exterior instructional labels in passenger cars is driving the growth of the automotive interior and exterior part instructional labels segment.
Based on vehicle type, the passenger car segment accounted for the maximum revenue share in the year 2022. Automotive labels are primarily used in multiple components of passenger cars including the car battery, windshield, tire, and other interior and exterior parts to provide vehicle users with critical information regarding the technical information, safe handling, and operation of cars. Factors including rising disposable income, expansion of automotive manufacturing facilities, and increasing need for safety and instruction labels in cars are among the key prospects boosting the growth of the passenger car segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. Factors including the rising investments in the development of automobile manufacturing facilities and increasing automotive production are driving the growth of the automotive labels market in North America. Moreover, the rising government initiatives for the adoption of electric vehicles are further projected to boost the market growth in North America during the forecast period.
Recent Developments
- In December 2019, LKQ Corporation acquired Auto Data Labels Inc., a North American manufacturer of replacement vehicle information labels. The acquisition aims at expanding the company’s offerings to the automotive labels industry.
Key Market Highlights
- The global automotive labels market size is estimated to reach USD 10,772.34 Million by 2030 and grow at a CAGR of 5.7% during the forecast period (2023-2030).
- Globally, automotive labels market is divided based on the type into automotive interior and exterior part instructional labels, under the hood instructional labels, glass and windshields labels, battery labels, and others.
- In the context of vehicle type, the market is segregated into passenger cars and commercial vehicles.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive labels market.
List of Major Global Automotive Labels Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• 3M
• Avery Dennison Corporation
• Resource Label Group
• Brady Corporation
• UPM
• Polyonics
• ImageTek Labels
• Weber Packaging Solutions
• Advantage Labeling & Packaging Inc.
• Clarion Safety Systems
- Multi-Color Corporation
- LKQ Corporation
Global Automotive Labels Market Segmentation:
- By Type
- Automotive Interior and Exterior Part Instructional Labels
- Under the hood Instructional Labels
- Glass and Windshields Labels
- Battery Labels
- Others
- By Vehicle Type
- Passenger Cars
- Commercial Vehicles
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Key Questions Covered in the Automotive Labels Market Report
- What are automotive labels?
- Automotive labels mostly comprise of badging and labels, including barcodes, VIN labels, and others that are designed for displaying component information, company's name and logo, technical information, price, and other vital details.
- What is the dominating segment in the automotive labels market by type?
- In 2022, the automotive interior and exterior part instructional labels segment accounted for the highest market share of 41.2% in the overall automotive labels market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the automotive labels growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing investments in the expansion of automobile manufacturing facilities and rising automotive production is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization, increasing government investments in the automotive sector, and rising automobile production.
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