Market Trends of Car Body Kit Industry
Sports Utility Vehicles Hold Major Share
Over the long term, factors such as rising consumer inclination toward comfort and automatic safety features, higher ground clearance, commanding driver seating position, robustness, and off-road driving capabilities are projected to drive the sports utility vehicle market.
With the growth in demand for sports utility vehicles, mid-size SUVs are in high demand as they are offered in multiple engine variants with internal combustion engines and electric options for better fuel economy. Additionally, these vehicles are provided with various transmission options, positively impacting the market.
Other factors, such as the increasing adoption of electric sports utility vehicles coupled with rapid development, will drive the market growth.
Asia-Pacific has witnessed an exponential rise in electric SUV ownership, resulting in a larger customer base. Considering the scenario, the companies are providing various options for electric SUVs in various segments, such as compact and luxury, to cater to the market. For example, In December 2023, Hyundai announced the launch of an electric option for its popular SUV, the Hyundai Creta, in India in 2024.
In addition, considering the growth of sports utility vehicles, body kit companies are focusing on various launches. For instance, in August 2023, the Honda WR-V was launched in Indonesia with a racer edition body kit installed to give it an aggressive stance.
Thus, contributing to segment growth.
Asia-Pacific Holds the Highest Share
The Asia-Pacific region is expected to grow significantly over the coming years. The region's demand for car body kits is mainly supported by increasing sales of new and used cars and commercial vehicles across China, India, and other countries. Further, as various automakers are investing in the development of electric and digital technologies for autonomous, hybrid, and electric vehicles, such is expected to positively impact the market. For instance
In January 2024, BYD launched its AI-powered smart car system to better compete with rivals on advanced technologies such as automated parking, and the company plans to invest 5 billion Chinese yuan (USD 701.8 million) to build the world’s first all-terrain professional test drive sites in cities across China.
Considering vehicle sales growth, these body kits have gained popularity in recent years, particularly among automakers and enthusiasts. Companies are focusing on various launches to cater to the increasing demand. For example, In December 2023, DAMD, a Japanese tuning company, released multiple body kits & styling parts for the Suzuki Jimny. These body kits and parts can be used to either give the small SUV a retro look or make it look like other off-roaders, such as a Toyota Land Cruiser and the Mercedes-Benz G-Wagon.
Furthermore, car performance kits can provide various additional characteristics without the need to modify or install any components or parts rather than just adding design elements. The modifications allow users to have enhanced performance and aesthetics, resulting in increased power and torque.
Thus, contributing to the market growth.
