Car Accessories Market Size & Share, by Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers); Application (Interior Car Accessories, External Car Accessories); Product Type (Batteries, Car Mats, Carriers, Dash Kits, Electronics Accessories, Fenders, Frames & Fittings, Guard Rails, Infotainments, Lighting, Rims, Others); Sales Channel (OEM, Aftermarket) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5997
  • Published Date: Apr 11, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Car Accessories Market size is predicted to cross USD 350 billion by the end of 2036, growing at a CAGR of 11% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of car accessories was about USD 171 billion. This growth in the market is set to be encouraged by the growing young population. In 2022, over 2 billion adolescents and youth were recorded who were between the ages of 10 and 24.  Further, this young population has a huge demand for customized vehicles since their preference for aesthetic appeal in automotive is growing.

Furthermore, there has been surging competition between car manufacturers, which is why they are offering attractive accessories in order to satisfy customers changing preferences and obtain competitive advantages. Therefore, this factor is predicted to dominate the expansion of the market for car accessories over the years to come.

Car Accessories Market
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Car Accessories Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Integration of IoT in Automotive-The demand for IoT in automotive is surging significantly with the growing customer expectation for enhanced technology in their vehicles. As a result, huge investments have been made in IoT for automobiles across the world. For instance, by 2025, approximately USD 739 billion is predicted to be invested in automotive IoT. Further, this integration of IoT is set to be influenced by the growing need for smart infrastructure to not only improve the appearance but also to protect the vehicle from accidents. However, along with preventing accidents, IoT also enables in-vehicle infotainment systems, which allow drivers and passengers to stream music, navigate, make hand-free calls, and more throughout the journey. Hence, with the growing demand for IoT, the car accessories market is estimated to rise over the coming years. These automotive IoT components refer to cloud-connected IoT devices, including cameras, GPS trackers, sensors, and telematics solutions, which are deployed in automobiles to collect real-time data and further offer a smarter driving experience.
  • Rising Demand for Electric Vehicles-The growing adoption of electric vehicles is predicted to pose an opportunity to boost the growth of the car accessories market. This is because electric vehicles require a number of accessories. These accessories include an EV charger, lighting, a thermal cooling system, and other components that are installed as per the demand of owners of electric vehicles.
  • Surging Need to Secure a Car-The prevalence of car theft is growing around the world. This has further boosted the need for safety features in automobiles. However, economic or low-variant compact cars, which are still the most preferred vehicles among the middle-class population, consist of manual locking systems, which is why the prevalence of theft has increased. Therefore, to safeguard cars from theft, owners of automobiles are adopting anti-theft locking systems in the cars. Consequently, this is expected to boost the growth of the car accessories market during the forecast period.


  • Lack of High-Quality Interior Products-There are a number of suppliers in the market who offer car accessories of low quality. In contrast to the branded car accessories, these low-quality accessories are offered at competitive prices. Hence, even though brands are providing inferior-quality accessories with a promising look, consumers are still preferring the low-quality accessories. As a result, this lack of awareness regarding genuine accessories among consumers is projected to hinder the growth of the car accessories market during the coming years.
  • Competitiveness in Price
  • Growing Economic Uncertainty

Car Accessories Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

USD 171 Billion

Forecast Year Market Size (2036)

USD 350 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Car Accessories Segmentation

Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers)

The passenger vehicles segment is predicted to gather the highest share in the car accessories market of over 50% over the forecast period. This growth of the market is set to be dominated by growing demand for passenger vehicles. For instance, in 2022, over 56 million passenger cars in the globe were sold, which is the highest. This growth in the sale of passenger cars is set to be influenced by the rising disposable income of the people. Moreover, the demand for autonomous vehicles is also surging significantly which might also boost the segment growth. Furthermore, the demand for connectivity of automobiles is high among young drivers. As a result, with the growing penetration of the internet, the deployment of advanced accessories in passenger vehicles is growing. Therefore, the demand for passenger car accessories is predicted to rise. 

Application (Interior Car Accessories, External Car Accessories)

The exterior car accessories market is estimated to hold 60% of the revenue share over the coming years. Exterior car accessories include all those products which are utilized to enhance the appearance of the automobile. These external car products consist of rear mudguards, plastic car door guards, stainless-steel car bumper guards, tire inflators, front mudguards, decals and stickers, wraps, and others.

Sales Channel (OEM, Aftermarket)

The aftermarket segment is expected to account for 55% share of the car accessories market by 2036. The aftermarket accessories segment has observed an extraordinary surge in popularity in recent years. One of the major factors to boosts the demand for aftermarket accessories is that they offer affordable accessories in contrast to the original equipment manufacturer (OEM) substitute. Accessories offered by OEMs are often priced at a premium, hence making them unaffordable for consumers who are budget-conscious. Hence, as aftermarket accessories, provide a cost-effective alternative without negotiating the quality or performance of the accessories, its demand is growing. 

Our in-depth analysis of the global car accessories market includes the following segments:

     Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Two-Wheelers


  • Interior Car Accessories
  • External Car Accessories

     Product Type

  • Batteries
  • Car Mats
  • Carriers
  • Dash Kits
  • Electronics Accessories
  • Fenders
  • Frames & Fittings
  • Guard Rails
  • Infotainments
  • Lighting
  • Rims
  • Others

     Sales Channel

  • OEM
  • Aftermarket

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Car Accessories Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific car accessories market is set to gather the highest revenue share of over 30% during the forecast period. This growth of the market is set to be dominated by a growing urban population. For instance, over 2.2 billion population of the world, currently reside in Asia. Moreover, by 2050, this urban population is predicted to rise by 50% in Asia, which means that an additional 1.2 billion people will be added. This urbanization has further boosted demand for commercial vehicles and off-highway trucks since the need for transportation also increases. As a result, the market growth for car accessories is predicted to observe growth. Moreover, there has been a growing shift in the infotainment system from simple audio to the touchscreen that holds up a number of features, including Apple CarPlay, Android Auto, Telematics, and more. Hence, this driving the demand for car accessories market and is estimated to be highest in countries such as India and China.  

North American Market Analysis

The North America car accessories market is predicted to observe robust growth over the coming years. This growth is poised to be encouraged by the presence of major players in the field of car manufacturing. Additionally, the standard of living of the people in this region has improved significantly, which is why their demand for luxury vehicles is also boosting. As a result, since luxury cars demand the deployment of advanced accessories the market in this region is predicted to experience a surge over the coming years.

Research Nester
Car Accessories Market size
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Companies Dominating the Car Accessories Landscape

    • Luxoft
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Hyundai MOBIS 
    • HARMAN International
    • Pioneer Corporation
    • Garmin Ltd.
    • Autozone, Inc.
    • Michelin
    • Bridgestone Corporation
    • Uno Minda
    • Hella GmbH & Co. KGaA

In the News

  • Luxoft and Hyundai MOBIS made an announcement that they are collaborating for the Infotainment Domain Controller. These two companies will enable to offer more compelling solutions in the complicated automotive domain controller market due to this collaboration.
  • A wholly-owned subsidiary of Samsung Electronics Co., Ltd., HARMAN focused on connected technologies for automotive, enterprise, and consumer markets, has made anannouncement that its Digital Transformation Solutions (DTS) business unit is collaborating with Microsoft. This collaboration is predicted to enable HARMAN to combine with Microsoft Azure private multi-access edge compute (PMEC).

Author Credits:  Harshita Srivastava, Saima Khursheed

  • Report ID: 5997
  • Published Date: Apr 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing integration of IoT in automotive, rising demand for electric vehicles, and surging need to secure a car.

The market size of car accessories is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2024-2036.

The major players in the market are Luxoft, Hyundai MOBIS, HARMAN International, Pioneer Corporation, and others.

The passenger vehicles segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Car Accessories Market Report Scope

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