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A skid plate is a metal sheet that is attached at the bottom of the vehicle to avoid damages to the underside of the vehicle. Also it offers safety to steering boxes, fuel tanks, oil pans and other vital components that are fitted on the lower side of the vehicle by preventing them from the road debris and mud while driving on uneven surfaces or on off roads. These skid plates increases the durability and longevity of the vehicles by reducing the issues related to severe damages to the parts of the vehicles. Nowadays, most of the vehicles are provided with skid plates to give a rigid and off-road look to the vehicle. This feature is gaining popularity and increasing craze among the young generation which is ultimately leading to the growth of the automotive skid plate market. Moreover, with the continuous rise in the sales and production of sports utility vehicles there has been an upsurge in the demand for skid plates across the globe. The rising popularity of off road activities, and rising safety concerns compelling people to opt for skid plates. The prominent manufacturing companies are investing on innovating and developing technologies to offer high efficient and stylish skid plates to their customers. All these factors are propelling the growth of the market.
Key Market Driver -
Rising safety measures for vehicles and increasing craze for skid plates are driving the growth of the automotive skid plate market
Key Market Restraint -
High cost of maintenance may hamper the growth of the market
Globally, the automotive skid plate market is segmented by market type, by vehicle type, and by geographic coverage. The market type is further segmented into OEM and aftermarket. The aftermarket holds the largest market of the global automotive skid plates. Owing to the rising trend of customized skid plates are leading to the growth of aftermarkets. The OEMs are also showing a significant growth in this market as many manufacturers are investing heavily to develop advanced technology based skid plates and offer latest version of skid plates to their customers. The vehicle type market is further segmented into all-terrain vehicle, sports utility vehicle, military vehicle and other. The SUV vehicle segment holds the largest market share of the global automotive skid plates. There has been a noticeable shift towards the SUV type of vehicles. Skid plates are a vital part of the sport utility vehicle as these vehicles are majorly used for off roading. These factors are fuelling the growth of the automotive skid plates market.
Major players operating in the global automotive skid plate market include All-Pro Offroad, Ricochet Off-Road, Zone Offroad Products, Bully USA, RCI Offroad, Asfir Technologies Ltd., Setina Manufacturing Inc., and Cycra Inc.among others.
Geographically, the automotive skid plate market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America holds the largest share of the global automotive skid plate market and is expected to grow in the forecast period. Owing to the high percentage of SUV manufacturers in this region. Also, the increase in trend of having a rigid look to the vehicles, safety of vital components, and increasing inclination of people towards SUVs are fuelling the growth of the market. Moreover, the rise in tourism, off-road activities and races are few of the main reasons for the growth of the skid plate market in this region. Asia Pacific is also estimated to show a significant growth in the market during the forecast period. The increasing number of sales and production of automotive vehicles in this region is the foremost reason for the growth of the automotive skid plate market. Also, the rising trend of off-roading, and customising of vehicles are expected to propel the growth of the market.
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