LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global automotive skid plate market is expected to reach 74.408 million units by 2021, growing at a CAGR of more than 17%.
This research report titled ‘Global Automotive Skid Plate Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up-to-date analysis and forecasts for various market segments and all geographical regions.
The global skid plate market is growing as the number of off-road activities and adventure enthusiasts are increasing. Also, more people are concerned about their vehicles' underbody protection, which is another factor that fuels the growth of the market. A skid plate is placed underneath the vehicle to protect the main components (including the suspension, oil tank, and transmission system) of a vehicle.
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Technavio’s analysts categorize the global automotive skid plate market into four major segments by vehicle type. They are:
- Pickup trucks
- Adventure motorcycles
The top three vehicle type segments for the global automotive skid plate market are discussed below:
Global automotive skid plate market for SUVs
Many SUVs have skid plates fixed to both the rear and front parts of the vehicle. Thus, growth in the global SUV market correlates to the growth of skid plates. Skid plates have become an essential part of SUVs as SUVs are mainly used for off-road activities. Skid plates protect the major components of a vehicle that are placed underneath.
According to Praveen Kumar, a lead automotive components research analyst from Technavio, “Protecting such components like the oil tank and transmission system will increase the longevity of the vehicle. Many SUVs have skid plates fixed to both the front and rear parts of the vehicle.”
Global automotive skid plate market for pickup trucks
Skid plates are used to protect the underside of a vehicle. Skid plates are essential for off-road vehicles such as pickup trucks as they are used mainly in tough terrains. Since pickup trucks are used on paved and gravel surfaces, they have large tires with deep, open treads and a flexible suspension.
“By protecting the important components of vehicles, skid plates increase the longevity of the vehicles. The applicability of skid plates in pickup trucks will fuel the growth of the global automotive skid plate market,” says Praveen.
Global automotive skid plate market for adventure motorcycles
Adventure motorcycles are used on paved and unpaved roads, and they are also known as enduro or dual purpose motorcycles. They have a sturdy frame and a bigger fuel tank as they need to store more fuel for touring purposes. They have higher ground clearance than traditional motorcycles as they are used in rough terrains.
Even though the ground clearance is high, most riders equip their motorcycles with skid plates to protect the underbody of the engine. Skid plates give protection to the water pump or sump, which is mounted on the underside of a motorcycle engine, from dirt and debris.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Setina Manufacturing Company
- RCI Metalworks
- Relentless Off-road Fabrication
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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