Brazil Exterior Car Accessories Market Research Report, 2028

Brazil Exterior Car Accessories Market Research Report, 2028

Actual Market Research 28-02-2023 50 Pages Figures : 4 Tables : 16 Region : South America Country : Brazil Category : Automotive & Transport Automotive Parts

The history of exterior car accessories in Brazil is closely linked to the development of the country's automotive industry. Brazil has a long history of automobile manufacturing, dating back to the 1950s, when the first Brazilian-made car, the Romi-Isetta, was produced. As the automotive industry in Brazil grew, so did the market for car accessories. In the early days, exterior car accessories in Brazil were mainly limited to basic items like mud flaps, bumper guards, and roof racks. However, as the country's middle class grew and car ownership became more widespread, the demand for more sophisticated and customized accessories increased. During the 1980s and 1990s, Brazil experienced an economic boom that led to a surge in car sales. This created a new market for exterior car accessories, as car owners sought to differentiate their vehicles and make them stand out from the crowd. This led to the introduction of new and innovative accessories such as alloy wheels, spoilers, body kits, and custom paint jobs. In the 2000s, Brazil's automotive industry continued to grow, and the market for exterior car accessories continued to evolve. The rise of e-commerce and online marketplaces made it easier for consumers to find and purchase accessories, while social media platforms allowed car owners to connect and share ideas and inspiration. Today, the market for exterior car accessories in Brazil is diverse and competitive, with a wide range of accessories available from both OEMs and aftermarket retailers. Brazilian car owners have a strong preference for exterior car accessories. Brazilians have a deep appreciation for cars, and take pride in customizing and personalizing their vehicles. Exterior car accessories allow car owners to express their individuality and style, and to make their cars stand out from the crowd. According to the research report, “Brazil Exterior Car Accessories Market Research Report, 2028” published by Actual Market Research, the market is projected to grow with CAGR of more than 7% by 2023-28. The demand for exterior car accessories in Brazil is driven by a variety of factors, including rising disposable incomes, a growing interest in customization, and a strong car culture. Many Brazilian car owners see their vehicles as an extension of their personality and identity, and are willing to invest time and money in customizing them. As a result, the market for exterior car accessories in Brazil is diverse and competitive, with a wide range of accessories available from both OEMs and aftermarket retailers. Popular exterior car accessories in Brazil include alloy wheels, spoilers, body kits, LED lights, custom paint jobs, and window tinting, among others. Many car owners also add accessories like roof racks, mud flaps, and bumper guards to improve the functionality and practicality of their vehicles. In addition to personalization, exterior car accessories also have practical benefits for Brazilian car owners. For example, spoilers and body kits can improve aerodynamics and handling, while LED lights can provide better visibility and safety on the road. According to the report, body kits are projected to lead the market by 2028. Brazil's automakers have changed vehicle models significantly in the last three years, necessitating the need for new auto parts, but the traditional automotive industry will undergo even more profound change in the next ten years. Autonomous driving and connected mobility are just the tip of the iceberg in terms of advanced technology. Future vehicles will necessitate a level of technological intelligence far beyond what Brazil currently possesses, and auto-parts manufacturers and suppliers are far from prepared to meet that demand. The industry's rapid growth has been fuelled primarily by foreign investments made by some of the world's largest automobile manufacturers. BMW, Mercedes-Benz, Audi, Volkswagen, Fiat, Citroen, Mitsubishi, Kia, Land Rover, Suzuki, Nissan, and Honda have all built factories in Brazil, creating thousands of new jobs, lowering the unemployment rate, and boosting the national economy. Another important factor in the industry's growth in Brazil has been raising consumer and business confidence. Furthermore, Brazil has a thriving motorsport scene, and as a result, the country is home to many manufacturers of exterior car accessories for racing cars. Formula Racing, Sanches Racing, Roncar, CRG, and Jansen Motorsport are a few examples. Exterior car accessories are sold in Brazil through a variety of channels, including both OEM (original equipment manufacturer) and aftermarket sales. Many car dealerships in Brazil offer a range of OEM exterior accessories for their vehicles, such as body kits, spoilers, and trim pieces. These accessories are designed to fit seamlessly with the vehicle and are often sold as part of a package or installed by the dealership's service department. However, there are also many specialty retailers throughout Brazil that sell aftermarket exterior car accessories, such as custom body kits, wheels, and lighting. These retailers may have physical storefronts or may operate exclusively online. Some manufacturers of exterior car accessories in Brazil may sell their products directly to consumers through their own websites or other online sales channels. On the other hand, in recent years, online marketplaces have become increasingly popular for the sale of exterior car accessories in Brazil. These marketplaces, such as Mercado Livre and Amazon Brazil, allow consumers to browse and purchase a wide range of products from multiple vendors in one convenient location. Based on the distribution channel, the market is dominated by aftersales segment in 2022. The Brazilian market for exterior car accessories is highly competitive, with a large number of established companies operating in the sector. However, there are also several start-ups in Brazil that are seeking to disrupt the market with innovative products and business models. Some of the notable start-ups in the Brazilian exterior car accessories market include: • HMF Parts is a Brazilian start-up that produces a range of aftermarket car accessories, including exterior parts such as body kits, spoilers, and grilles. The company focuses on producing high-quality, affordable products that are designed to improve the performance and appearance of a wide range of vehicles. • KX3 Parts is another Brazilian start-up that produces a range of exterior car accessories, including body kits, spoilers, and carbon fiber parts. The company emphasizes the use of high-quality materials and advanced manufacturing processes to produce products that are both durable and visually striking. • Enforced Aerodynamics is a Brazilian start-up that produces a range of body kits and exterior parts for performance-oriented vehicles. The company specializes in producing lightweight, aerodynamic parts that are designed to improve a vehicle's handling and performance on the track. • Tuning Parts is a Brazilian e-commerce platform that specializes in aftermarket car accessories, including a wide range of exterior parts such as body kits, spoilers, and grilles. The company has a strong online presence and offers a wide range of products from both Brazilian and international manufacturers. • Overboost Performance is a Brazilian start-up that specializes in producing high-performance exhaust systems for a wide range of vehicles. The company uses advanced engineering techniques and high-quality materials to produce exhaust systems that improve performance while also providing a distinctive sound. Considered in this report • Geography: Brazil • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Brazil Exterior Car Accessories market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Accessories Type: • Body Kits (Front and Rear Bumper Kits, Spoilers, Lip Kit, Front Grille, Tuning Hoods, etc) • Exhaust Muffler • Lights • Alloy Wheels • Chrome Accessories • Window Films • Graphic Stickers & Reflectors • Racks • Others (Crash Guards, Side Beading, Window Door Visors, License Plate Frames, Exterior Covers, Side Mirror Covers, etc) By Distribution Channel: • OEM • Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Exterior Car Accessories industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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