Vehicle pillars essentially form a vertical support for in the car’s window area. Moving from the front to the rear position in a vehicle, the vehicle pillars are designated as A, B, C and D. These alphabetical designations of the pillars prove to be essential during a design discussion and critical communication.
The automotive industry, is capital-intensive industry. The dynamic business environment and cutthroat competition in the market constantly require influx of capital to update their technology to cope with the increase in incidence of customization by the consumers. Development of hybrid vehicles, electric vehicles among others require constant adaptation by the vehicle pillar manufacturers to develop speck vehicle pillars required by vehicle manufacturers, thus resulting in extensive capital investment at a constant rate. Such cut-throat competition in the automotive industry requires massive investments at a regular basis, thus the high capital investment in the Vehicle Pillar market is expected to act as a hurdle in the growth of the market due to significant entry barriers for new player which is expected to have a negative impact on the Vehicle Pillar market.
Ferrous Commodities such as steel and iron are subjected to steep price fluctuations often. These price fluctuations often end up negatively impacting the automotive industry. The increase in demand for steel is directly proportional to the demand for automobiles across the globe. Raw materials used is the biggest cost driver for the automotive industry with approximately 22% of an automaker’s total operational cost depending on steel. Steel is an essential part of the automotive industry due to the lack of availability of substitutes. Thus, when subjected to sharp price fluctuations, it ends up hampering the overall growth of the automotive industry, directly impacting the vehicle pillar market.
Global Vehicle Pillars Market, By Region, 2016-2023 (USD Million)
The global vehicle pillar market has been segmented as pillar type, vehicle type, end market and region. By pillar type, the market is segmented as A pillar, B pillar, C pillar and D pillar. A pillar is segment is expected to dominate the global market by type in 2016 in terms of market revenue followed by B pillar. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. Among these, passenger vehicles has accounted the highest market share in 2016 in terms of revenue. By end market, the market is segmented as OEMs and aftermarket. Among these, OEMs have registered the highest market share of 88.17% in 2016 in terms of revenue.
The market for vehicle pillar is expected to grow due to an increase in demand for automobile, majorly in the U.S. There is an immense demand of commercial vehicles in United States. With an increase in demand of commercial vehicles, there has been a subsequent increase in demand for Vehicle Pillar market. The growth in North America is also driven by the adoption of converted mobile homes in U.S. Existence of major manufacturers in this region combined with availability of sophisticated technologies enables the Vehicle Pillar market to flourish in this region. North America is a mature economy as far as investment in automotive industry is concerned, automotive industry is expecting huge investment by several giants due to the rising demand for passenger cars. Owing to these factors, the growth of the region is expected to grow with a CAGR of 11.54% during the forecast period.
The global market for Vehicle Pillar has many global, regional, and local vendors. The market is highly competitive with the players competing to gain market share. Intense competition, rapid advancements in technology, and frequent changes in government policies are vital factors that contribute market growth.
The prominent players in the vehicle pillar market include Unipres Corporation (Japan), Kirchhoff Automotive Gmbh (Germany), Tianjin Toyotetsu Automobile (Japan), Toyotomi Kiko Co (Japan), G-Tekt Corporation (Japan), Martinrea International (Canada), Aisin Seiki (Japan), Tower International (US), Shiloh Industries (US), Benteler automotive (US), Gestamp (Spain), Sewon America (US), and Elsa Llc (US).
The report for Global Vehicle Pillar Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight into the market and industry performance. The report gives the clear picture of current market scenario, which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report also includes details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.