Global Automotive Mudguards Market 2017-2021
About Automotive Mudguards
Mudguard is a rectangular sheet of flexible hard material used to prevent flying debris from hitting the underside of the engine. Mudguards are made of steel, aluminum, and composite plastics.
Technavio’s analysts forecast the global automotive mudguards market to grow at a CAGR of 4.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive mudguards market for 2017-2021. To calculate the market size, the report considers the sales and volume of passenger cars and commercial vehicles and their adoption of mudguards.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Mudguards Market 2017-2021
Technavio recognizes the following companies as the key players in the the global automotive mudguards market: MrMudguard, FeatherWing, and Jonesco.
Other Prominent Vendors in the market are: Rhino Manufacturing, KN Rubber, KWIK PFYT mud flaps, Sant Manufacturers, and FIEM Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is truck makers to improve mudguard designs for improving aerodynamics. Maximizing the productivity of long-haul trucks and other commercial vehicles has been the main aim of OEMs since 2010. Fluctuating fuel prices and a decrease in the amount of total freight to be transported, especially in the US and Europe, have caused freight operators to restrict sales of commercial vehicles and focus mainly on choosing the most productive commercial vehicle to maximize their profits. Commercial vehicles pull tons of weight, and this causes these vehicles to have high maintenance costs, which further reduce the profits of operators.”
According to the report, one of the major drivers for this market is rising demand for passenger cars in emerging countries. Sales of passenger cars are highly correlated with the market growth of automotive mudguards, as all passenger cars are equipped with mudguards. The penetration of cars in APAC is low compared with the Americas and EMEA, converting APAC into a favorable market for car OEMs. Decreased penetration of cars in emerging countries is presenting a wide opportunity for car OEMs to start their business in APAC. The automotive industry is expected to grow in emerging countries such as China, India, Brazil, South Korea, Indonesia, and parts of eastern Europe.
Further, the report states that one of the major factors hindering the growth of this market is fluctuating prices of plastic composites used for making automotive mudguards. Automotive mudguards are made of composite plastic materials like acrylic, which are graded based on their finish, thickness, and tint. These factors are important in determining the efficiency and durability of this material. Fluctuating costs of plastic composites like acrylic used for making automotive mudguards will cause changes to the price of mudguards, which may diversely affect the market.
MrMudguard, FeatherWing, Jonesco, Rhino Manufacturing, KN Rubber, KWIK PFYT mud flaps, Sant Manufacturers, and FIEM Industries.