Registering a CAGR of 4.8% over the forecast period of 2022-2027, the global Tonneau covers market is anticipated to reach the market value of US$ 20540 million in the year 2027 from US$ 14670 million in the year 2021.
Tonneau Covers Market Overview
The market is primarily driven by the factors such as increase in demand for pick-up trucks and premium convertible cars.With the increase in average life of vehicles, because of the technological advancements and increased life of automotive components, the aftermarket services for automotive tonneau are also witnessing high demand.However, heavy weight mechanism for convertible cars to cover/uncover the tonneau is a restraint for the premium convertible cars segment and major players are investing heavily on overcoming this issue.Now-a-days Consumers are using pickup trucks for transporting both goods and passengers. Hard tonneau covers help to protect and conceal items in the non-passenger area of pickup trucks. The major restraint for the market is the heavy weight of the hard cover which will reduce the vehicle fuel effieciency.A pickup truck is a light-duty vehicle that has an enclosed cab and an open cargo area with a tailgate. It can be either compact or full-size. Pickup trucks are mostly used as good carriers, but they also find application in personal transport, especially in the US, Mexico, and Brazil, among others. This can be attributed to the rising demand for comfort and convenience. The increased utility of pickup trucks is increasing because they offer a higher value proposition and can seat more passengers while maintaining their cargo-carrying capacity.
Industry News and Updates:
May 10, 2019 – Truck Hero, Inc. Announces Strategic Acquisition of Lund International--
Truck Hero, Inc. (“Truck Hero” or the “Company”) today announced the strategic acquisition of Lund International Holding Company (“Lund”), a portfolio company of Highlander Partners, LP. Lund, based in Buford, Georgia, is a leading designer, manufacturer, and marketer of branded automotive accessories for a full assortment of passenger cars, light trucks, SUVs, CUVs and Jeeps, as well as the heavy truck category.
What are the major Applications, Types and Regions for Tonneau Covers Market?
By Type, Tonneau Covers Market has been segmented into
- Hard Tonneau Covers
- Soft Tonneau Covers
By Application, Tonneau Covers Market has been segmented into,
Tonneau Covers Market Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Tonneau Covers Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
The North America region is expected to be the largest market for automotive tonneau cover. The major markets in the region are United States of America and Canada. The demand for tonneau is also promising owing to the presence of many luxury OEMs in the region which are manufacturing premium convertible cars for local as well as export market.
The growth in the market is attributed to the high demand of pick-up trucks in the region and convertible cars. In the year 2019, more than 3 million pickup trucks were sold to customers in United States alone, with a growth rate of about 4.5% during the last five years period. The pickup trucks are very popular in the region and they can be used to serve multiple purposes, for travelling along with the family and carry other essential items during their travel.
What is our Tonneau Covers Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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CAGR of 4.8% during the review period (2022 to 2027).
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By Type
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- Hard Tonneau Covers
- Soft Tonneau Covers
- Others
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By Application
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By Companies
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Truck Hero, Bestop, Roll-N-Lock, SnugTop, Lund, Rugged Liner, Agri-Cover, DiamondBack, Truck Covers USA, Access Cover, TruXmart, Gator Cover and others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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117
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Tonneau Covers Report
- Evaluate Tonneau Covers market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Tonneau Covers market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Tonneau covers Market is studied from 2017 - 2027.
What is the growth rate of Tonneau covers Market?
The Tonneau covers Market is growing at a CAGR of 4.8% over the next 5 years.
What regions does this Tonneau covers Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Tonneau covers Market?
Hard Tonneau Covers, Soft Tonneau Covers
What are the major applications of Tonneau covers Market?
OEM, Aftermarket
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.