Colombia Exterior Car Accessories Market Research Report, 2028

Colombia Exterior Car Accessories Market Research Report, 2028

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

The automotive industry in Colombia has been growing steadily over the past few years. The country has a well-established automotive sector that includes both local and foreign manufacturers. The Colombian government has implemented several policies to support the growth of the industry, including tax incentives and free trade agreements with other countries. In addition to manufacturing, Colombia has a significant market for vehicle sales and maintenance. The country has a large number of car dealerships and repair shops, as well as a well-developed supply chain for automotive parts and accessories. The Colombian government has also been promoting the use of electric and hybrid vehicles through tax incentives and other policies. As a result, there has been an increase in the availability of these vehicles in the country, and some local manufacturers have started producing electric and hybrid cars. The exterior car accessory market in Colombia is a growing industry that offers a range of products to vehicle owners who want to enhance the appearance, functionality, and performance of their vehicles. In Colombia, many vehicle owners choose to customise their cars' paint jobs with unique colors, patterns, and designs. This is a popular way to make a vehicle stand out and express personal style. While there are many international brands that offer exterior car accessories in Colombia, local manufacturers are leading the market. Colombian companies such as ARB and Levante offer a range of products that are specifically designed for the local market. In addition to new accessories, there is also a thriving market for used exterior car accessories in Colombia. Many vehicle owners choose to sell their used accessories to other car enthusiasts who want to save money and customise their vehicles. According to the research report, "Colombia Exterior Car Accessories Market Research Report, 2028," published by Actual Market Research, the market is projected to add USD 150.97 Million in size from 2023 to 2028. Despite the challenges posed by the COVID-19 pandemic, the exterior car accessory market in Colombia is expected to continue to grow in the coming years. The increasing popularity of SUVs and pickup trucks in the country is expected to drive demand for exterior car accessories. Also, many consumers in Colombia are looking for ways to personalise their vehicles, and the exterior car accessory market has responded by offering a wide range of products that allow for customization. Due to the harsh weather conditions and rough terrain in Colombia, there is a strong focus on durability and quality in the exterior car accessory market. Products that can withstand these conditions are highly valued by consumers. In addition to that, many of the exterior car accessories sold in Colombia are manufactured locally. This has helped to support the growth of small businesses in the country and create jobs. Despite the growth of the automotive industry in Colombia, there are still some challenges to be addressed, such as improving infrastructure, reducing import tariffs, and increasing consumer access to financing. However, overall, the future looks promising for the Colombian automotive sector, with continued growth and development expected in the coming years. While exterior car accessories are often associated with luxury and high-end vehicles, they are also popular among owners of more affordable cars in Colombia. This is because accessories such as wheels, spoilers, and body kits can give a vehicle a more custom look and feel without breaking the bank. According to the report, the market is segmented into various accessory types including body kits (front and rear bumper kits, spoilers, lip kits, front grilles, tuning hoods, etc.), exhaust mufflers, lights, alloy wheels, chrome accessories, window films, graphic stickers and reflectors, racks, and others (crash guards, side beading, window door visors, licence plate frames, exterior covers, side mirror covers, etc.). Among them, the body kit segment is leading the market in 2022. In recent years, there has been a growing interest in car customization and modification among car enthusiasts in Colombia. Car body kits, which can include front and rear bumpers, side skirts, spoilers, and other components, are a popular way to give a car a unique and personalised look. Some popular types of car body kits in Colombia include racing-style body kits, luxury-style body kits, off-road-style body kits, retro-style body kits, etc. There are many auto parts stores throughout Colombia that sell a wide range of exterior car accessories, including spoilers, body kits, and performance parts. These stores may be independent or part of larger chains. However, many online retailers sell exterior car accessories in Colombia. These retailers may be local or international, and they often offer a wider selection of products than traditional brick-and-mortar stores. Some car dealerships in Colombia also sell exterior car accessories as add-ons to new or used vehicles. These accessories may be offered as part of a package or as individual items. On the other hand, independent sellers, such as street vendors or small shops, may also sell exterior car accessories in Colombia. Based on the distribution channel, the aftermarket segment will lead the overall market in 2022. One of the major players in the Colombian automotive industry is the local manufacturer, Sofasa, which is a subsidiary of the French automaker, Renault. Sofasa produces a range of vehicles, including the Renault Sandero, the Renault Logan, and the Renault Duster. Other international automakers such as General Motors, Volkswagen, and Kia also have a presence in the Colombian market. Accessory installation is often done by hand. In Colombia, many exterior car accessories are installed by hand rather than using machines or specialised tools. This is because the country has a large pool of skilled labourers who can perform installations quickly and efficiently. Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Colombia 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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