Vehicle Pillar Market Accretes To USD 7,364.9 Million By 2023 At 5.64% of CAGR; Asserts MRFR

Market Research Future published a research report on “Vehicle Pillar Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Vehicle Pillar Market Information Report, By Pillar Type (A Pillar, B Pillar, C Pillar and D Pillar), By Vehicle Type (Passenger Vehicle and Commercial Vehicle) By End Market (OEM and Aftermarket) and By Region – Forecast To 2023 

 

Market Synopsis 

Vehicle pillars are essentially vertical supports for a cars window area. Moving from the front to the rear the vehicle pillars are designated as A, B, C and D. These alphabetical designations of the pillars prove to be essential during a design discussion and critical communication. 

Automotive industry is diversifying at a greater speed as manufacturers and suppliers race to produce lighter and more powerful vehicles in lesser time. Alternative fuels, new lightweight materials and innovative technology are transforming the manufacturing process of automotive industry. With the global economy undergoing an unprecedented level shift, major emerging countries such as China, India, Thailand, and Indonesia are becoming manufacturing hubs for global automotive players. The income levels of individuals have been steadily increasing, also resulting in the rise in their disposable income, pushing the market towards growth. The currently booming automotive industry, combined with steadily increasing disposable income, is expected to contribute significantly in the growth of the market.

 

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The Vehicle Pillar Market has witnessed significant growth in recent times. The increase in demand in the vehicle pillar market is complimentary to the increase in demand in the automotive industry, thus making the growth of the automotive industry a major contributor towards the growth vehicle pillar market. Passenger safety in automobiles has become a hot topic of discussion off late with the advent of new technology in the form of driver assistance systems, collision sensors and pedestrian sensors. Apart from technological advancements the manufacturers have been gunning towards increased passenger safety in the traditional sense and thus have resulted in developing high quality vehicle pillars. The global vehicle pillar market is expected to reach the valuation of USD  7,364.9 million by 2023, from USD  5,108.6 million in the year 2016, growing at a CAGR of 5.46%.

The global vehicle pillar market segments has been divided into pillar type, vehicle type, end market and region. On the basis of pillar type, the market is segmented into A pillar, B pillar, C pillar and D pillar. A pillar is expected to dominate the global market by type in 2016 in terms of market revenue followed by B pillar. On the basis of vehicle type, the market has been segmented into passenger vehicles and commercial vehicles. Among these, passenger vehicles has accounted the highest market share in 2016 in terms of revenue. On the basis of end market, the market has been segmented as OEMs and aftermarket. Among these, OEMs have registered the highest market share of 88.17% in 2016 in terms of revenue.

Geographically, global vehicle pillar market has been segmented as North America, Europe, Asia-Pacific and Rest of the World. Among the aforementioned regions, Asia Pacific region has accounted the largest market share of 33.57% followed by North America. The growth of the Asia-Pacific region can be attributed to the increase in adoption of passenger cars and therefore, the increase in adoption of Vehicle Pillar in the passenger cars. The recent shift in the preference from mileage to looks and features is also expected to result in the high demand for Vehicle Pillar. The global Vehicle Pillar market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector. The demand for vehicle pillars is largely dependent on vehicle production in developing countries such as India and China. The vehicle production is growing, which in turn would push the demand for Vehicle Pillars. The market for Vehicle Pillar is expected to grow with an increase in demand for automobile, majorly in the United States. There is an immense demand of commercial vehicles in United States. With the increase in demand of commercial vehicles there is a subsequent increase in demand for Vehicle Pillar market.

 

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The global market for Vehicle Pillar is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, and frequent changes in government policies are key factors that confront the market growth. 

The prominent players in the vehicle pillar market include Unipres Corporation (Japan), Kirchhoff Automotive Gmbh (Germany), Tianjin Toyotetsu Automobile (Japan), Toyotomi Kiko Co (Japan), G-Tekt Corporation (Japan), Martinrea International (Canada), Aisin Seiki (Japan), Tower International (US), Shiloh Industries (US), Benteler automotive (US), Gestamp (Spain), Sewon America (US), Elsa Llc (US).

 

BRIEF TOC:

  1. EXECUTIVE SUMMARY
  2. RESEARCH METHODOLOGY
  3. MARKET DYNAMICS
  4. GLOBAL MARKET SEGMENTATION
  5. REGIONAL MARKET ANALYSIS
  6. COMPETITIVE ANALYSIS
  7. CONCLUSION
  8. LIST OF TABLES
  9. LIST OF FIGURES

 

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