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Commercial Vehicle Accessories Market Trends

Report ID: GMI7955
Published Date: Jan 2024
Report Format: PDF

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Commercial Vehicle Accessories Market Trends

As the automotive industry shifts toward electrification, the commercial vehicle accessories sector is expected to witness a trend towards accessories tailored for electric vehicles (EVs). This includes specialized charging solutions, battery management systems, and accessories designed to enhance the efficiency and performance of electric commercial vehicles.

Against this backdrop, in November 2021, Atlis Motor Vehicles, a Mesa-based startup dedicated to introducing electric work trucks, entered into a strategic collaboration with EAVX, a company specializing in automotive chassis construction. This partnership aims to integrate EAVX bodies and accessories into Atlis' electric vehicle platform, facilitating the development of the next generation of service and utility vehicle platforms, commercial work truck accessories, and commercial freight and dump vehicle platforms specifically tailored for the North American market.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of commercial vehicle accessories reached USD 93.9 billion in 2023 and is set to expand at over 5% CAGR from 2024 to 2032, owing to rapid urbanization and infrastructure development.

The trucks vehicle segment recorded 42% of the market share in 2023, due to the rising customization trends, regulatory requirements, and the increasing focus on sustainability.

North America accounted for 33% of the market share in 2023, driven by the increasing demand for commercial vehicles in the region.

Aisin Corporation, ContiTech Deutschland GmbH, Delphi Automotive, Denso Corporation, Robert Bosch GmbH, Schaeffler, Sumitomo Electric Industries, Ltd., Thule Group, Toyota Boshoku, and Valeo are some of the major commercial vehicle accessories companies worldwide.