Industry Background:
Hard tonneau covers are made from materials such as aluminum, polypropylene, and fiberglass that cannot be easily cut or pried from the side rails. These materials work best to stand up against would-be thieves. Paired with a locked tailgate, a hard tonneau cover keeps all of belonging secure since the cover must be released from the underside. Some hard tonneau covers include a built-in lock to keep the cover in place even if the tailgate is down. These covers, such as Retrax's retractable hardcovers and the Extang EnCore tonneau cover, offer an extra level of security even when need. This has projected the growth of the global hard tonneau covers market over the forecast period.This growth is primarily driven by Increasing Demand for pickup and Luxury pickup in developed and developing nations is a significant driver for the hard tonneau cover market due to the growing need for light commercial vehicles in the transport industry is indirectly driving the market..
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Truck Hero (United States), Bestop Inc. (United States), SnugTop (United States), Lund International, Inc. (United States), Rugged Liner Inc. (United States), Agri-Cover, Inc. (United States), DiamondBack (United States), Truck Covers USA (United States), TruXmart (Canada) and Gator Covers (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021,Bestop, Inc. (“Bestop”), a portfolio agency of Kinderhook Industries, LLC (“Kinderhook”), introduced the acquisition of Precision Designs LLC d/b/a sPOD (“sPOD” or the “Company”), a producer and distributor of precision strength distribution and swap panel structures for a range of off-road and utility vehicles. sPOD represents Bestop’s eighth add-on acquisition and Kinderhook’s one hundred and tenth car associated transaction.
In March 2022, RealTruck, the preeminent online retailer of American-made truck and Jeep parts and accessories, reached the "million part milestone" with the addition of its latest product, BAK Revolver X4s Tonneau Covers, Iconic 5" stainless steel curved Nerf bars, and Covercraft Carhartt seat covers. , Moto Metal M0970 wheels, and Husky liner Weatherbeater floor liners.The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Influencing Trend:
Pickups and light commercial vehicles are widely used to transport goods at short distances.
Market Growth Drivers:
Increasing Demand for pickup and Luxury pickup in developed and developing nations is a significant driver for the hard tonneau cover market due to the growing need for light commercial vehicles in the transport industry is indirectly driving the market.
Challenges:
Higher Price of Truck Accessories and Installation Issues.
Restraints:
The high cost of raw material like aluminum is hindering the hard tonneau cover market growth. The nominal price of aluminum in 2018 was increased to USD 2,108 per metric ton from the USD 1,665 per metric ton in 2015.
Opportunities:
Increasing lightweight material demand in the hard tonneau cover due to the growing demand fuel-efficient and less carbon emission vehicles in the developing countries. Strict government norms regarding the emissions are creating opportunities for the market over the forecast period
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Hard Tonneau Cover Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Hard Tonneau Cover Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Hard Tonneau Cover players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Hard Tonneau Cover Study Sheds Light on
The Hard Tonneau Cover Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hard Tonneau Cover industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hard Tonneau Cover industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.