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New Styling Options and Product Categories will Stimulate Interest in Exterior Protection Accessories

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New Styling Options and Product Categories will Stimulate Interest in Exterior Protection Accessories

Mumbai, Maharashtra, India

The popularity of higher-priced stainless steel accessories, as well as the growing interest in new front bar and custom grill types, will support short-term growth in North American light truck exterior protection accessories aftermarket. However, aftermarket manufacturers will face stiff competition from light truck original equipment manufacturers (OEMs) and their dealers. To thrive in this market, manufacturers must exit from declining product categories and enter new, emerging accessory categories while developing new applications for the growing crossover utility vehicles (CUVs) segment.

New analysis from Frost & Sullivan (www.automotive.frost.com), North American Light Truck Exterior Protection Accessories Aftermarket, reveals that the market earned revenues of $274.8 million in 2005 and estimates to reach $275.6 million in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the North American light truck exterior protection accessories aftermarket, then send an e-mail to Ravinder Kaur, Corporate Communications, at ravinder.kaur@frost.com with your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.

"The introduction of new products, as well as new styling options for existing products, stimulates the purchase decisions of truck owners and distributors," says Frost & Sullivan Industry Analyst Stephen Spivey. "As older products such as hood shields and side rails lose favor, there are growth opportunities for producers and marketers of new accessories like bull bars and stainless steel grilles."

Exterior protection accessories are increasingly regarded by truck owners as decorative rather than functional. This is reflected in their preferences for stainless steel or chrome front bars instead of those with powder coat finishes, for wire mesh custom grilles as an alternative to the standard billet bar style or for hood shields with artwork painted on them. The aftermarket has shown a willingness among customers to pay more for customized accessories that reflect the personal styles of different end-user groups.

However, leading light truck manufacturers, including General Motors and Ford, have successful programs in place to sell exterior protection accessories to truck owners as factory-installed, port-installed, or dealer-installed options. This reduces sales opportunity to the aftermarket and affects manufacturers that are not certified automotive suppliers.

"Aftermarket manufacturers must consider strategies to penetrate the OEM sales channel in order to meet long-term growth objectives," explains Spivey. "In the future, more truck owners will purchase exterior protection accessories when they buy the vehicle at the dealership, instead of buying them through the aftermarket."

The aftermarket must continue to introduce new product innovations that give truck owners an incentive to choose an aftermarket accessory over an OEM part. This requires manufacturers to employ a talented research and development team that can improve the exterior protection accessories that come with the truck, while also creating new accessory categories that are available exclusively in the aftermarket.

The North American Light Truck Exterior Protection Accessories Aftermarket is part of the Automotive Aftermarket Growth Partnership Service, and it provides unit shipment and revenue forecasts, a distribution channel analysis, and industry challenges. It includes a thorough examination of the following products: hood shields, side wind deflectors, front bars, custom grilles, side rails, and bed rail caps. This study mainly focuses on the following end-user segments: pickup trucks, sports utility vehicles, (SUVs), minivans, and CUVs. Interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

North American Light Truck Exterior Protection Accessories Aftermarket
F866

Ravinder Kaur, Corporate Communications - South Asia, Middle East, Frost & Sullivan, +91 (044) 4204 4515 ravinder.kaur@frost.com

Vanessa Quezada, Corporate Communications - North America, Frost & Sullivan, +1 210 477 8427 vanessa.quezada@frost.com

Source: Frost & Sullivan (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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