At 4.2% CAGR, Truck Bedliner Market to Garner $641.40 Million by 2028
The comprehensive industry research on Truck Bedliner published by The Insight Partners research includes growth analysis, regional marketing in the report.
NEW YORK, UNITED STATES, October 25, 2022 /EINPresswire.com/ — The Truck Bedliner Market size is valued US$ 500.95 million in 2022; it is estimated to grow at a CAGR of 4.2% from 2022 to 2028.
Truck bedliners protect the interior of a truck bed and provide a nonslip surface. The demand for truck covers is increasing in the automotive industry due to the surge in the production of medium and heavy-duty trucks. In particular, Asia Pacific, the Middle East, and Latin America remain important target markets for truck bed suppliers. Furthermore, rising disposable income and increasing urban population drive the global truck bedliners market. Also, the increasing concerns about comfort and safety, rising demand for luxury, and adoption of advanced technologies in the automotive industry are fueling the market growth.
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Companies Profiled in this report includes: American Bedliners Custom Truck Shop,CHAMÄLEON GMBH,DualLiner Truck Bed Liners,Henan Huayu Auto Accessories Manufacturing Co., Ltd,Line X LLC,Rhino Linings Corporation,SPEEDLINER,TOFF,Truck Hero, Inc,Ultimate Linings
In addition, one of the major factors bolstering the growth of the global truck bedliner market is the increasing prevalence of sprayers. Although truck bed pallets are more expensive than their pedestrian counterparts, they are more popular because of their high-performance parameters. Sprayed clothing is made of aliphatic compounds that do not fade easily. Also, spray bedliners are reliable and durable, so they can be used to cover additional parts of the bumper or rear panorama. The bedliners can also improve the vehicle’s visual appeal, which improves its resale value. The custom designs and usability of spray bedliners make them an ideal choice for truck enthusiasts.
Truck bedliners are also used as a protective cover for the entire exterior of trucks. The complete exterior cover provides advanced protection while driving on rough roads. Many consumers cover their pickup trucks with bed panels because it improves their truck’s appearance and provides armored protection and a unique design for the vehicle.
The truck bedliner market is highly fragmented, and vendors use growth strategies, including product portfolios, innovation, and strategic partnerships, to compete in the market. To develop business and recover from the COVID-19 pandemic impact, market vendors focus on fast-growing segments and maintain their positions in slow-growing segments.
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Impact of COVID-19 Pandemic on Truck Bedliner Market Growth
The COVID-19 pandemic negatively impacted the global truck bedliners market. Passenger vehicle and LCV manufacturers faced immediate consequences of the outbreak, which will continue in the long term. Lockdown restrictions to curb the spread of SARS-CoV-2 significantly impacted supply chains of raw materials, such as fabric, cushions availability, electronic components, and production facilities. However, as the lockdown restriction eased down from Q1 in 2021, the market gained momentum due to the rising demand for vehicles. Thus, the market is projected to witness growth during the forecast period.
In 2020, restrictions on the manufacturing industry and the proclaimed lockdowns hampered the business of vendors operating in the truck bedliners market. Due to the subsequent recession, most truck bedliners were experiencing various challenges, such as the shutdown of factories and labor shortages. However, in 2021, as per the focus2move survey, approximately 3 million trucks were sold annually, and the number is expected to grow by 25–27% in 2022. Hence, the rise in truck sales is expected to promote the growth of truck bedliners over the forecast period.
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