Automotive Rocker Panel Market Set for Explosive Growth : From $54.3 Billion in 2023 to $86.4 Billion by 2033

The global automotive rocker panel market size was valued at $54,341.2 million in 2023, and is projected to garner $86,444.32 million by 2033, registering a CAGR of 5.1% from 2024 to 2033.

Rocker panels are used to make the vehicle's body stiff by preventing sagging down of the midbody. Initially, they were meant to provide structural reinforcement such that in case of an accident the cabin will not be deformed and remains intact. They significantly contribute to the overall rigidity of a vehicle, which is crucial in terms of safety on roads. These are positioned at the sides between the wheels and function as other than roof supports, essential links that connect the front and rear ends of the automobile. Rocker panels keep the car's back part from separating with its front side.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A133442

The surging production of automobiles is driving the demand for rocker panels, given their indispensable role in most vehicle designs. Furthermore, the global increase in consumer preference for personal vehicles directly influences the requirement for replacement rocker panels, especially in aging vehicles. This, coupled with stringent safety regulations, is compelling automakers to prioritize the robustness and structural integrity of rocker panels, thereby fostering innovation and market expansion. Furthermore, the swift pace of urbanization is contributing to increased vehicle usage, subjecting them to rough road conditions and enhancing the necessity for resilient rocker panels. Moreover, these panels play a crucial role in preventing rust and corrosion, making them essential in regions characterized by harsh climates or elevated humidity levels. Furthermore, advancements in materials and manufacturing technologies are resulting in lighter and more durable rocker panels, thus fostering their demand globally.

As international automobile manufacturers extend their reach and consumers' purchasing power for new cars grows, the demand for passenger vehicles is experiencing significant growth. Enhanced lifestyles and economic conditions are driving shifts in consumer preferences worldwide. With rising purchasing power and disposable income, increased brand visibility, and competition among OEMs to provide enhanced features, it is anticipated that the automotive rocker panels will experience significant demand during the forecast period.

The development of autonomous vehicles is one of the major factors driving the growth of rocker panels. Rocker panels provide structural reinforcement to the vehicles. In June 2022, Einride obtained approval from the U.S. National Highway Traffic Safety Administration (NHTSA) to test & operate its autonomous trucks in the U.S. roads. Similarly, Australia has been testing a wider fleet of autonomous mining trucks in its iron & other mineral ores wherein trucks are operating autonomously to transport minerals from mines to collection centers. The testing and development efforts aimed at bringing self-driving trucks into commercial use have broadened the market potential for growth throughout the projected period.

North America, boasting an extensive network of highways, ranks among the leading import and export nations in the world. The transportation of goods in the U.S., Canada, Mexico has faced challenges related to long-haul logistics, compounded by a shortage of certified truck drivers, which raises concerns. In response to these challenges, logistics companies and truck manufacturers have actively experimented with self-driving vehicles and related technologies as potential solutions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-rocker-panel-market/purchase-options

In July 2023, ZF commenced the production of its advanced driver assist system (ADAS) technology at its Monterrey, Nuevo Leon plant in Mexico. Similarly, another company, Luminar expanded its operations in Mexico in 2023. Mexico is poised to emerge as a significant manufacturing hub for self-driving truck technology in the coming years. This growth is expected to lead to increased demand for both autonomous trucks and related technology in the region. Manufacturers engaged in the development of autonomous features are further focusing on the design of vehicles, thus impacting the market growth positively.

The global automotive rocker panel market is segmented into product type, vehicle type, sales channel, and region. On the basis of product type, the market is categorized into steel, plastic, rubber. By vehicle type, it is bifurcated into passenger car and commercial vehicle. Depending on sales channel, it is divided into OEM and Aftermarket. Region wise, it is studied across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

The market is highly competitive with several key players dominating the industry. Prominent manufacturers focus on innovation, product differentiation, and strategic partnerships to maintain their market positions. Automotive rocker panel market leaders include 𝐂𝟐𝐂 𝐅𝐚𝐛𝐫𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐏𝐮𝐭𝐜𝐨, 𝐒𝐦𝐢𝐭𝐭𝐲𝐛𝐢𝐥𝐭, 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐂𝐫𝐞𝐚𝐭𝐢𝐨𝐧𝐬, 𝐑𝐮𝐠𝐠𝐞𝐝 𝐑𝐢𝐝𝐠𝐞, 𝐁&𝐈, 𝐐𝐌𝐈 𝐬𝐡𝐚𝐫𝐩, 𝐖𝐢𝐥𝐥𝐦𝐨𝐫𝐞 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠, 𝐍𝐨𝐫/𝐀𝐦 𝐀𝐮𝐭𝐨 𝐁𝐨𝐝𝐲 𝐏𝐚𝐫𝐭𝐬, 𝐚𝐧𝐝 𝐀𝐮𝐭𝐨 𝐌𝐞𝐭𝐚𝐥 𝐃𝐢𝐫𝐞𝐜𝐭.

Rising emphasis from cities and governments on sustainable transportation solutions has driven the demand for electric and hybrid vehicles. For instance, according to International Energy Agency (IEA), global electric car sales exceeded 10 million units in 2022, indicating a 35% increase in 2023, reaching a total of 14 million units. This remarkable surge in sales signifies a substantial rise in electric cars' market share of 4%. This factor is projected boost the deployment of rocker panels in vehicles, thus augmenting the growth of the global market.

The automotive sector is undergoing a transition toward the adoption of lightweight materials to boost fuel efficiency and minimize emissions. Materials such as carbon fiber and aluminum are gaining prominence in the production of rocker panels not only in reducing the overall vehicle weight but also providing strength and durability. This shift is anticipated to drive the expansion of the market for vehicle rocker panels.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A133442

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

On the basis of product type, the steel segment is anticipated to exhibit significant growth in in the near future.

By vehicle type, the commercial vehicle is expected to witness major growth rate during the forecast period.

Depending on sales channel, the aftermarket segment is anticipated to exhibit highest CAGR during the forecast period.

North America is anticipated to register the highest CAGR during the forecast period.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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