Global Automotive Inner Fenders Market
Global Automotive Inner Fenders Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2020 at a CAGR of 4.6% during the forecast period.
Global Automotive Inner Fenders Market Overview
Inner fenders border both from and rear wheel of a vehicle to prevent rocks, liquids, mud and sand from being thrown at other vehicles and walkers. All types of vehicles use automotive inner fenders. In the U.K. fenders are also known as wing and in India and Sri Lanka they are known as mudguard.
This report providesa detailed information according to region and contribution of all segments to the growth of the Automotive Inner Fenders Market.
Global Automotive Inner Fenders Market Dynamics
One of the leading drivers for market growth of inner fenders market is demand for M&HCV. Increase in industrialization and urbanization in developing countries like India and china expects need for housing and infrastructure. Thus, increase in construction is expected to drive the market for M&HCV vehicles for raw material transportation in the real estate projects.
Asia is expected to boost the market of commercial vehicle due to rise in mining and construction activities, which in turn is driving demand for the growth of automotive inner fenders.
Automotive manufacturers such as Volvo Car Corp., Daimler AG and BMW AG among others are expected to increase production and sale of electric vehicles in future due to increasing demand of fuel efficient and low emission electric and hybrid vehicles across the world. Thus, expanding the automotive fenders market during the forecast period.
Global Automotive Inner Fenders Market Segment Analysis
Global Automotive Inner Fenders Market Segment, by Material:
By material, the automotive inner fenders market is segmented into steel and sheet molding compound (SMC).
The materials like steel and sheet metal compounds are used for making inner fenders in an automobile. Sometimes steel is replaced by sheet metal compound to reduce the weight of vehicle which subsequently increases fuel efficiency of vehicle by increasing vehicle mileage.
There is increase in the utilization of non-corrosive materials in the automotive inner fenders market as inner fenders are prone to get rusted due to mud and road debris. With the use of non-corrosive material such as thermoplastic can help inner fenders from getting rusted and thus increasing life span. Also, these thermoplastic wheel liners can be easily replaced as they are fitted with screws, bolts, and clips.
Global Automotive Inner Fenders Market Segment, by Vehicle Type:
Passenger Car segment is projected to grow at a 4.5% CAGR to reach XX Million Units during forecast period.
Industrialization and urbanization lead to the fast growth of countries in Asia Pacific. Factors such as reduced interest rates, drop in fuel prices, the recovering economy in developing countries are expected to drive the segments growth in the automotive inner fenders market.
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Global Automotive Inner Fenders Market Regional Analysis
APAC dominated the global automotive inner fenders market during 2019 and is expected to drive the market growth during the forecast period.
North America holds maximum share of automotive inner fenders market as the light commercial vehicles in North America is expanding at significant pace due to extensive usage of these vehicles to transport daily goods in the region.U.S. is the second largest automotive and passenger vehicle market in the world. Germany is the fourth largest market for passenger vehicles in the world, followed by japan and India, which are the third and fifth largest passenger vehicle markets in the world.
Asia pacific is expected to increase the rise for commercial vehicles due to infrastructure and rising construction activities. These commercial vehicles transport raw material, which subsequently increases the growth of automotive inner fenders for commercial vehicles. Along with that,the sale for passenger vehicles is expected to increase across the globe, which consequently increases the demand for automotive inner fenders during the forecast period.
Global Automotive Inner Fenders Market by Region
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Global Automotive Inner Fenders Market Scope: Inquire before buying
Global Automotive Inner Fenders Market, by Region:
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Automotive Inner Fenders Market Key Players
• Samvardhana Motherson Group (India)
• Gordon Auto Body Parts Co. Ltd. (Taiwan)
• Great Bestcam Co. Ltd (GBC, Taiwan)
• Auto Depot Co.Ltd. (Thailand)
• Auto Metal Direct (the U.S)
• Glasstek (the U.S)
• Lokari (Germany)
• Pacific Auto Company (the U.S.)
• Webeka engineering
• LinYi Xin Mai Chi Auto
• Canghzou Baoda
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