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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Automotive Skid Plate Market 2019-2023 | 15% CAGR Projection Over the Next Five Years | Technavio

January 10, 2020 GMT
Global Automotive Skid Plate Market 2019-2023 | 15% CAGR Projection Over the Next Five Years | Technavio
Global Automotive Skid Plate Market 2019-2023 | 15% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Jan 10, 2020--

The automotive skid plate market size is poised to grow at a CAGR of about 15% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio announced its latest market research report titled global automotive skid plate market 2019-2023. (Graphic: Business Wire)

Off-road motorcycles are in demand due to several factors such as the increase in the number of off-road enthusiasts, growing awareness about recreational activities, and increasing disposable income. This has led prominent automakers to increase their product offerings in the off-road motorcycles segment. Therefore, the growing popularity of off-road motorcycles will drive the growth of the global automotive skid plate market, owing to standard fitment (or optional availability) of skid plates in such motorcycles.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31305

As per Technavio, the growing availability of bumper skid plates as OEM fitment in compact SUV and crossovers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Automotive Skid Plate Market: Growing Availability of Bumper Skid Plates as OEM Fitment in Compact SUV and Crossovers

The demand for SUVs and crossovers has also been witnessing an upward trend over the last few years especially in the emerging markets of APAC. Within SUVs, the compact and small-size segment is dominating the sales. Looking at the market potential, automakers are differentiating their products by offering best-in segment features and functionalities. To enhance the overall appearance of vehicles, automakers are also offering various design elements to vehicle exteriors. For instance, Maruti Suzuki offers a faux silver side plate in its compact SUV, Vitara Brezza. The company also offers skid plate in its crossover, S-Cross. Other automakers that are offering SUV in this segment are also providing skid plates. Thus, the increasing use of skid plates in new SUV and crossover models is expected to drive the growth of the market during the forecast period.

“Other factors such as the increasing availability of skid plates at online marketplace will have a significant impact on the growth of the automotive skid plate market value during the forecast period,” says a senior analyst at Technavio.

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Automotive Skid Plate Market: Segmentation Analysis

This market research report segments the automotive skid plate market by application (SUV, pickup truck, ATV, adventure motorcycle) and geographical regions (North America, APAC, Europe, South America, and MEA).

The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, the North American region is expected to continue dominating as well as register the highest incremental growth due to the high popularity of recreational vehicles in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200110005256/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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SOURCE: Technavio Research

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PUB: 01/10/2020 05:00 PM/DISC: 01/10/2020 05:00 PM