Car Covers Market: Current Analysis and Forecast (2021-2027)

A car cover is used to protect a car against various external factors such as wind, dust, rain, sunshine, etc. it also keeps the car safe and prevents any paint fading, scratching, and discoloring of the interior.

With the advancement in the automobile industry and the growing focus of various industry players to develop new and advanced car covers is leading to the introduction of remote-controlled automatic covers in the market. For example, Vinoya is an automatic car cover that protects your vehicle from spring showers, summer sun, autumn leaves, and winter snow. The Y&Y store promises that 'vinoya' is a waterproof and anti-theft car cover that can be deployed at the touch of a button. Also, the ease of use of these automatic covers and extra protection provided by them is also expected to create growth opportunities for the market players.

Furthermore, the car covers market is anticipated to grow on account of the growing number of vehicle fleets owing to the rising real GDP per capita across the globe. For instance, in 2019, the GDP per capita of North America was USD 63,344, a 3.32% increase from 2018. Also, according to International Monetary Fund, amongst all the North American countries, the United States has the highest GDP per capita (USD 65,281) followed by Canada (USD 47,764). In addition to this, the increase in FDI and investment in R&D in the automotive industry is further propelling the growth of the car covers market globally.

Based on Product Type, the market is segmented into conventional, automatic, and semi-automatic. The conventional segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027 owing to the easy availability and affordability of these car covers.

Based on Distribution Channel, the market is segmented into store-based and non-store-based. The non-store-based segment grabbed XX% market share of the car covers market and gathered revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027.

Based on the End-Use, the market is fragmented into individuals, vehicle manufacturers, and others. The individual segment captured XX% market share in 2020. The market of this segment is expected to reach USD XX million by 2027.

For a better understanding of the market adoption of the Car Covers, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for the Car Covers industry and generated revenue of USD XX Million in 2020 owing to strong economic growth in the region.

Some of the major players operating in the market are Covercraft Industries, Coverking Inc., California Car Cover Co., Polco Creations Pvt. Ltd., Coverwell, Classic Additions Ltd., Rampage Products, CONFEZIONI ANDREA ITALIA SRL, MacNeil Automotive Products Limited, Budge Industries, among others. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced car covers.