Car Covers Market Size

Car Covers Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Car Covers Market is set to grow steadily, with the current market estimated to reach $90 million by 2024 and $110 million by 2032. This translates into a CAGR of 2.95% over the forecast period. The growth of the market can be attributed to several factors, such as the growing awareness of vehicle maintenance, the rising number of vehicles on the road, and the growing trend of outdoor parking, which requires protective solutions for automobiles. Further, the development of fabrics such as breathable, waterproof, and UV-resistant fabrics is increasing the functionality and aesthetics of car covers, thereby driving the market. Covercraft Industries, Inc., Budge Industries, Inc., and WeatherTech are some of the leading players operating in the car covers market. These companies are investing in the development of new products, such as custom-fitted covers and eco-friendly fabrics. Also, they are establishing strategic alliances with vehicle manufacturers and retailers to expand their distribution network and reach more customers. The shift in consumer preferences towards high-quality, durable, and aesthetically appealing covers is expected to fuel the growth of the market.

Regional Market Size

Regional Deep Dive

Car covers market is growing dynamically in various regions. This is mainly due to the increasing vehicle ownership, the increasing awareness of vehicle maintenance, and the increasing trend of vehicle personalization. In North America, the demand for car covers is mainly for luxury and custom-made, and the demand for car covers in Europe is mainly for eco-friendly materials. In the Asia-Pacific region, the rapid development of urban economy and the increasing per capita income have prompted consumers to pay more attention to vehicle protection. The Middle East and Africa are influenced by the harsh climate, and the Latin American market is mainly driven by the rapid development of the automobile industry and the increase in consumer spending on automobile accessories.

North America

• Covercraft and WeatherTech have increased their online presence to meet consumers’ demands.
• For example, the introduction of breathable and waterproof materials by 3M has made it possible to improve the long-term performance of car covers.
• For the same reason, manufacturers are now beginning to develop car covers made of more sustainable materials, which is a response to the growing demand for eco-friendly products.

Europe

• In Europe, where the tightening of regulations on motor vehicles is becoming increasingly important, car cover manufacturers are increasingly developing not only protective covers but also covers made from sustainable materials, as Audi and BMW have already done.
• Coverking, the company which has been at the forefront of the development of such covers, has been a great pioneer in this field.
• In the United States, the car covers industry is a growing one, driven by a strong market in Germany and Italy, where there is a strong emphasis on the beauty and maintenance of the car.

Asia-Pacific

• In the countries of Asia, the number of automobiles is growing rapidly. The demand for car covers is increasing with it.
• The local manufacturers are introducing products in the low-priced market. The Aisin Seiki Company has been expanding its business.
• The government's initiatives for electric cars also have an impact on the market, as consumers look for ways to protect their new purchases.

MEA

• The extreme weather conditions in the Middle East, such as heat and sandstorms, have led to a demand for good quality car covers that provide better protection. Brands like Covercraft have been able to benefit from this.
• The luxury car market is growing in the Middle East, which is driving the demand for high-quality covers that offer both protection and a decorative look.
• The state's encouragement of vehicle maintenance and protection is increasing the number of people buying car covers, and this is boosting the market.

Latin America

• In Brazil and Mexico, the growing car industry is driving the car cover market as consumers are increasingly investing in vehicle protection accessories.
• Local manufacturers are concentrating on making the products cheap and accessible. The TUPY company is making car covers at a price suitable for the local market.
• Culture and the importance of vehicle appearance and maintenance in Latin America are the main reasons why car covers are becoming fashionable and necessary.

Did You Know?

“The fact that about seventy per cent of American car owners use car covers to protect their cars from the weather indicates the importance of maintenance in their purchasing decisions.” — Automotive Aftermarket Industry Association (AAIA)

Segmental Market Size

Car covers are enjoying a period of sustained growth, with the increasing awareness of consumers for the protection and maintenance of their vehicles. The occurrence of extreme weather conditions has increased the need for protective measures for vehicles. The trend for customizing the car is also increasing the need for protection and for the aesthetic and longevity of the car. The expansion of the aftermarket sector is also playing a major role in the car covers market.

The market for car covers is in a mature stage of development, with Covercraft and WeatherTech leading the way in terms of product development and penetration. The most important applications are protection against the weather, sand, grit and dust. However, the market is also being driven by the green trend, as manufacturers increasingly use eco-friendly materials. Technology such as advanced fabric coatings and smart textiles is also driving the evolution of the market.

Future Outlook

From 2024 to 2032, the market for car covers is expected to grow steadily, from $900 million to $1 billion, at a CAGR of 2.95%. The growth of this market is based on the growing awareness of consumers about the protection and care of their vehicles, as well as the growing number of vehicle owners. In the cities, where the car is more exposed to natural hazards and vandalism, the demand for car covers is also expected to increase. The penetration rate of car covers among car owners could reach about 30% in 2032, from an estimated 22% in 2024, indicating the increasing importance of protective accessories for the service life and appearance of vehicles.

The invention of light, strong and waterproof fabrics, which can be used to cover cars, will be the main source of innovation in this field. Also, the development of smart fabrics, with UV sensors and temperature control, will be of interest to consumers and will be a further source of market growth. Also, the increasingly stringent requirements for the environment and the growing emphasis on the environment will lead consumers to choose more sustainable products. The emergence of car covers with individual design will also become important, to meet the different needs of consumers. The market for car covers is set to grow rapidly, driven by a combination of technological innovation, innovation in the field of car covers, and changes in the car cover market.