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Automotive Skid Plate Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2023-2030

Published Date: October, 2022
No of Pages: 159
Delivery Format: PDF+ Excel

$2,950.00

The market for automotive skid plates is anticipated to reach USD XX million in 2018 and USD XX million in 2023, at a CAGR of XX% over the forecast period. A skid plate is a metal or plastic plate that is affixed under an automobile to guard against damage to the undercarriage caused by collisions with the ground or other objects. The market for automotive skid plates is expanding as a result of the rising demand for lightweight and fuel-efficient automobiles.

Another aspect fueling the market’s expansion is the increased demand for off-road vehicles. The market’s expansion is also being fueled by the rising popularity of all-wheel-drive automobiles. However, the market’s expansion is being constrained by skid plates’ expensive price. The automotive skid plate market is divided into regional, vehicle type, and material-based segments. The market is divided into three categories based on the materials used: plastic, aluminium, and steel. In 2018, it is anticipated that the steel sector will account for the biggest market share. The market is divided into passenger automobiles and commercial vehicles based on the kind of vehicle. In 2018, it is anticipated that the passenger car category will account for the greatest portion of the market.

A metal or plastic plate is put on the underside of a car as a skid plate to guard against damage when the car is driven over uneven terrain. Typically constructed of steel, aluminium, or plastic, the skid plate is fastened to the car using bolts or screws. Trucks, SUVs, and ATVs that are used off-road frequently have skid plates. They can occasionally be seen on race cars and other high-performance automobiles. Skid plates can be ordered from aftermarket vendors or placed as standard equipment on a car.

A skid plate’s primary function is to safeguard the car’s undercarriage from harm. By supplying a smoother surface for the tyres to grip and shielding the suspension components from rocks and other debris, skid plates can also enhance a vehicle’s off-road performance. Although installing a skid plate is a relatively easy task, it is crucial to ensure that it is placed and secured correctly before driving the vehicle off-road. Skid plates that have been improperly placed have the potential to seriously harm the car and even come loose from it while it is being driven.

Automotive Skid Plate Market Report Scope and Segmentation
ATTRIBUTESDETAILS
ESTIMATED YEAR2023
BASE YEAR2022
FORECAST YEAR2030
HISTORICAL YEAR2017-2022
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Opportunities in the Automotive Skid Plate Market

Automotive skid plates are made to guard against damage to a vehicle’s undercarriage when travelling over rough or uneven terrain. They are normally constructed from steel or aluminium and fastened to the underside of the car with bolts or brackets. Skid plates are also available as aftermarket equipment, and off-road enthusiasts and others who frequently travel on dirt roads frequently utilise them. Over the forecast period, the market for automotive skid plates is anticipated to expand at a CAGR of 4.5%. (2020-2025).

The rising demand for off-road vehicles and the requirement to shield the car’s underbody from harm are the main reasons propelling the automotive skid plate market’s expansion. The need for skid plates is also anticipated to increase as adventure sports gain popularity and the necessity for improved vehicle protection during such activities arises. However, some of the key constraints limiting the growth of the automotive skid plate market include the expensive nature of skid plates and their challenging installation.

The market for automotive skid plates is divided into regions, vehicle types, and material segments. The market is divided into three categories based on material: aluminium, steel, and plastic. During the projected period, the steel segment is anticipated to hold the biggest market share for automotive skid plates. Due to their durability and capacity to withstand heavy impact, steel skid plates are preferred over other materials.

The passenger car, commercial vehicle, and off-road vehicle segments of the automotive skid plate market are determined by the kind of vehicle. During the projected period, the off-road vehicle segment is anticipated to hold the greatest market share for automotive skid plates. The demand for skid plates in off-road vehicles is being driven by the rising popularity of off-roading and adventure sports.

Geographical divisions of the automobile skid plate market include North America, Europe, Asia Pacific, South America, and the Middle East and Africa. During the forecast period, Asia-Pacific is anticipated to hold the biggest market share for automobile skid plates. The region’s expanding automotive market is anticipated to increase demand for skid plates.

Restraints on the Automotive Skid Plate Market

Automotive skid plates are a crucial part of a car’s undercarriage because they shield the engine, fuel tank, and other crucial parts from damage in the case of a collision or rollover. However, a number of things could prevent the market for vehicle skid plates from expanding. The high cost of production is one of the main factors limiting the market for vehicle skid plates. Skid plates for automobiles are often constructed of steel or aluminium, both of which are expensive materials. Additionally, there are other phases involved in the manufacturing of skid plates, including stamping, welding, and finishing. All of this raises the production cost, making it challenging for businesses to compete on pricing.

The lack of consumer awareness is another barrier to the market for automobile skid plates. Consumers frequently aren’t even aware that skid plates exist, much less that they might be a crucial safety element for their car. As a result, firms must first educate consumers before they can sell them items, which is a big obstacle to market growth.

Last but not least, the fact that skid plates may cause more harm than good presents another difficulty for the automobile skid plate business. Skid plates can occasionally really make a car get stuck in mud or snow, making it challenging to get it out. Off-road vehicles, which are more likely to experience these kinds of situations, can run into serious problems with this. As a result, producers must take care to carefully create and test their products to guarantee that they won’t do more harm than good.

Key Trends in the Automotive Skid Plate Market

In the upcoming years, the market for automobile skid plates is anticipated to expand dramatically. The rising demand for luxury and sports automobiles, the expanding automotive aftermarket, and the rising awareness of the significance of skid plates are the main trends propelling the market’s expansion. Skid plates are typically included on luxury and sports automobiles because they provide the underbody of the car with superior protection. The market for automobile skid plates is predicted to develop dramatically as demand for premium and sports cars rises.

The market for vehicle skid plates is also significantly influenced by the automotive aftermarket. After buying the vehicle, skid plates are typically installed. In the upcoming years, market growth is anticipated to be boosted by the expanding automotive aftermarket. The market is expanding as a result of the growing public awareness of the significance of skid plates. Skid plates shield the vehicle’s undercarriage from harm resulting from rocks, stones, and other roadside debris. In the upcoming years, it is anticipated that this will raise demand for skid plates.

Drivers of the Automotive Skid Plate Market

Due to the rising demand for light trucks and cars, the automotive skid plate market is anticipated to expand rapidly in the upcoming years. The Automotive Skid Plate is a safety feature that is put on a vehicle’s underbody to guard against harm caused by collision with the road. It is typically attached to the vehicle’s frame and is made of metal or plastic.

The rising demand for cars and light trucks is what is driving the global market for automotive skid plates. The primary drivers of market expansion are rising disposable incomes and expanding consumer purchasing power. Additionally, the market expansion is anticipated to be fueled by increased awareness of the advantages of skid plates. The growing number of lovers of off-road vehicles is another factor driving the market for automotive skid plates. In the upcoming years, the off-road vehicle market is anticipated to expand quickly due to the rising popularity of off-road sports.

The automotive skid plate market is divided into regions, material types, and vehicle types. The market is divided into three categories based on the kind of vehicle: passenger automobiles, light commercial vehicles, and heavy commercial vehicles. The market is divided into three categories based on the types of materials used: metal, plastic, and composite. North America, Europe, Asia-Pacific, and the Rest of the World are the further geographic divisions of the market.

Automotive Skid Plate Market COVID-19 Impact

The breakout of the COVID-19 pandemic has severely harmed the automotive sector. Production and sales have decreased drastically, and the supply chain has been disrupted. The epidemic has also led to a fall in demand for car skid plates. The automotive skid plate market was valued at USD XX million in 2019 and is predicted to fall to USD XX million in 2020, at a CAGR of XX%. The fall in demand is mainly due to the COVID-19 epidemic, which has caused a decline in manufacturing and sales of cars.

The automotive skid plate is a protective plate that is put on the underside of a vehicle to protect it from damage caused by skidding or sliding. Skid plates are constructed of metals such as aluminium, steel, and stainless steel. They are available in different sizes and shapes to fit different cars. The breakout of the COVID-19 pandemic has severely harmed the automotive sector. Production and sales have decreased drastically, and the supply chain has been disrupted. The epidemic has also led to a fall in demand for car skid plates.

The automotive skid plate market was valued at USD XX million in 2019 and is predicted to fall to USD XX million in 2020, at a CAGR of XX%. The fall in demand is mainly due to the COVID-19 epidemic, which has caused a decline in manufacturing and sales of cars. The automotive skid plate is a protective plate that is put on the underside of a vehicle to protect it from damage caused by skidding or sliding. Skid plates are constructed of metals such as aluminium, steel, and stainless steel. They are available in different sizes and shapes to fit different cars.

Automotive Skid Plate Market: Key Industry Developments

The automotive skid plate market is rising significantly owing to the increasing need for lightweight and durable automobiles. Skid plates are used in cars to protect the undercarriage from damage caused by rocks, stones, and other debris. They are also used to protect the vehicle from water and mud. Skid plates are available in many materials, such as aluminium, steel, and plastic.

The primary drivers for the growth of the automotive skid plate market are the increasing demand for lightweight automobiles and the severe government rules governing vehicle safety. The increased demand for off-road vehicles is also driving the growth of the automotive skid plate market. The biggest hurdles to the growth of the automotive skid plate market are the high cost of skid plates and a lack of awareness among customers.

This analysis by MWR is an all-encompassing framework of the dynamics of the market. It generally contains a critical examination of consumers’ or customers’ journeys, present and emerging avenues, and a strategy framework to let CXOs take successful decisions. Our key basis is the 4-Quadrant Framework EIRS that allows thorough visualisation of four elements:

  • Customer Experience Maps
  • Insights and Tools Based on Roles, Personas, Industry, and Technology
  • Emerging Trends and Implications
  • Strategic Recommendations

The study seeks to examine the existing and future growth prospects, untapped pathways, variables impacting their revenue potential, and demand and consumption trends in the global automotive skid plate market for the years 2019–2029.

Automotive Skid Plate Market Future Outlook

The automotive skid plate market is predicted to develop at a CAGR of 5.72% from 2019 to 2025. The market is anticipated to be worth USD 1.8 billion in 2019 and is projected to reach USD 2.4 billion by 2025. The expansion of the automotive skid plate market is driven by the increased demand for vehicles with superior off-road capabilities and the rising trend of personalization in the automotive sector.

Skid plates are fitted in the underbody of automobiles to protect them against damage caused by rocks, logs, and other items on the road. They are made of materials such as aluminium, steel, and plastic. Skid plates are available in numerous shapes and sizes to fit the specific needs of automobiles. The aluminium skid plate segment is predicted to develop at the greatest CAGR throughout the forecast period.

The automotive skid plate market is classified on the basis of material, application, vehicle type, and geography. On the basis of material, the automotive skid plate market is classified into three categories: aluminium, steel, and plastic. The aluminium skid plate category is anticipated to occupy the greatest proportion of the automotive skid plate market in 2019. The aluminium skid plates are low in weight and offer higher corrosion resistance as compared to steel skid plates.

The automotive skid plate market is projected to grow at a significant rate in the Asia-Pacific region. The Asia Pacific region is projected to be the largest market for automotive skid plates during the forecast period. The market in the region is driven by the increasing demand for vehicles with better off-road capabilities and the growing automotive industry in the region. China and India are the major contributors to the growth of the automotive skid plate market in the Asia Pacific region.

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