The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Automotive Wing Bracket Market: Introduction
The automotive wing bracket is a part attached to the wing accessory to the automobile vehicle to endure the aesthetics. This helps to achieve an enhanced aerodynamics which not only increases the efficiency of the vehicle but also provides a better fuel efficiency to the vehicle. The automotive wing bracket plays an important role as to keep the automotive wing intact with the vehicle. It also helps to ensure the proper adherence of the wing to achieve the expected output. While in the normal passenger cars the automotive wing is basically attached for the styling purpose, whereas in the racing cars the automotive wings are attached to the vehicle to have an aerodynamic benefit.
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The automotive wing adoption has first initiated in 1972 which gained prominence thereafter in the normal passenger cars as well as in the racing cars.
Automotive Wing Bracket Market: Dynamics
The automotive wing bracket market is expected to get a sustainable upsurge due to the increasing traction of the automobile users towards the automotive wing. In many passenger cars customers as well as OE Manufacturers are keen towards installation of the automotive wing primarily for the enhancement of outer aesthetics of the vehicle. The growth for the automotive wing bracket market is also anticipated to have prominent growth as many end users are trying to increase the fuel efficiency by using all the aerodynamic advantage. This also includes the addition of automotive wing to the car. Over the recent past, many high end cars are also coming up with an automotive wing which provides deemed aesthetics to the vehicle and also augment the efficacy of the vehicle. The new trend of using carbon fiber material to achieve a significant reduction in the weight of the vehicle is also expected to create a growth in the aftermarket segment. The increase in the automation can make a shift of the customers from their existing automotive wing bracket to new automatic wing bracket which is made of carbon fiber.
Reduction in the sales of the vehicles has also created a big drop in the production of the automobile vehicles which can be a big drawback for the automotive wing bracket market. The upcoming global recession which is most likely to have devastating effect on the automotive industry. This will affect the market for automotive wing bracket.
Automotive Wing Bracket Market: Segmentation
On the basis of vehicle type, automotive wing bracket market can be segmented as:
- Sports/Racing Cars
- Mid-size cars
- Luxury Cars
On the basis of material type, automotive wing bracket market can be segmented as:
- Plastic automotive wing bracket
- Fiberglass automotive wing bracket
- Silicone automotive wing bracket
- Carbon fiber automotive wing bracket
- Steel automotive wing bracket
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On the basis of sales channel, automotive wing bracket market can be segmented as:
- OEM (Original Equipment Manufacturer)
- Aftermarket
On the basis of installation, automotive wing bracket market can be segmented as:
- Wing bracket for the retractable wing
- Wing bracket for fixed wing
Automotive Wing Bracket Market: Regional Overview
The automotive wing bracket market of South Asia is estimated for an upsurge with a growth in manufacturing in India and increasing vehicle fleet in the countries subjugated in the region. The market of North America is also anticipated for a sizable growth with the existing fleet of the vehicles in the region and the awareness of the customers towards having an apt aerodynamics for the vehicle. Latin America region is expected to have a prominent growth over the period of forecast period due to high prominence in Brazil and Mexico. On the back of substantial automobile sector developments in the Germany and intense use of high end vehicles in countries like Italy, U.K., etc. The automotive wing bracket market of Europe is expected to flourish over the foreseen years. In coming years the automotive wing bracket market of Middle East and Africa is anticipated to remain stagnant due to the trivial manufacturing and limited sales of the automobile vehicles in the region.
Automotive Wing Bracket Market: Market Participants
Some of the key manufactures identified for the automotive wing bracket are,
- Hyline Auto Pvt. Ltd.
- Bright Brothers Ltd.
- Neil & Parks Racing Enterprises
- Muma Manufacturing
- Micro Tools (India) PVT. LTD.,
- Strut Support Systems
- BST AUTO
- Aptiv PLC
- RASTP
- NEVERLAND
- Crooober
The research report presents a comprehensive assessment of the Automotive wing bracket Market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to automotive wing bracket Market segments such as geographies, material type, and sales channel.
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Our reports strive to offer superior quality reports based on authentic and accurate findings.
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Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets.
Report Highlights:
- Shifting Industry dynamics
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- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
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