According to a new report, published by KBV research, The Global Automotive Rocker Panel Market size is expected to reach $75.3 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period.
The Aftermarket segment is registering a CAGR of 5.9% during (2024 - 2031). Increasing vehicle ownership, particularly in emerging markets, contributes to a greater demand for replacement rocker panels aftermarket due to normal wear and tear. This is one of several factors contributing to this expansion. Additionally, vehicle customisation and personalisation have driven demand for aftermarket rocker panels that offer unique designs and finishes, further boosting growth in this segment.
The Steel segment is leading the Global Automotive Rocker Panel Market by Product Type in 2023; thereby, achieving a market value of $47.6 billion by 2031. Steel rocker panels are known for their durability and strength, making them popular among automakers and consumers. They offer excellent protection against road debris and impacts, contributing to vehicles' overall safety and structural integrity. The widespread use of steel rocker panels in passenger and commercial vehicles has contributed to their dominant position in the market.
The Commercial Vehicle segment is experiencing a CAGR of 5.6% during (2024 - 2031). Commercial vehicles, including trucks, buses, and vans, often require robust rocker panels to withstand the rigours of commercial use. These vehicles are subjected to heavy loads, rough road conditions, and frequent loading and unloading, necessitating durable rocker panels for protection and structural integrity. Commercial vehicle operators increasingly recognise the importance of rocker panels in protecting their vehicles and enhancing their appearance. As a result, there is a growing demand for high-quality rocker panels that meet commercial vehicles' specific requirements.
Full Report: https://www.kbvresearch.com/automotive-rocker-panel-market/
The Asia Pacific region dominated the Global Automotive Rocker Panel Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $37 billion by 2031. The Europe region is anticipating a CAGR of 4.3% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 4.7% during (2024 - 2031).
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