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Vehicle License Plate Market To Grow At A CAGR Of 6.69% From 2022 To 2027, Increasing Vehicle Registrations To Boost Market Growth - Technavio

By PR Newswire

PR Newswire
Overall Rating

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The vehicle license plate market is estimated to increase by USD 220.39 million from 2022 to 2027, with a CAGR of 6.69%, according to a recent market study by Technavio. Increasing vehicle registrations year-on-year is a key factor driving the market growth. Growing purchasing power and strong economic expansion in emerging markets such as Brazil, China, and India are driving demand for passenger cars and commercial vehicles. The BRIC countries, especially China, have experienced significant growth due to substantial tax incentives and industrial development. In addition, intense competition between suppliers and market saturation has forced automakers around the world to focus their efforts on these regions. Hence, these factors are expected to drive market growth during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region.  Discover some insights on market size before buying the full report -Request a FREE sample report

Vehicle License Plate Market - Company Insights

The vehicle license plate market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 companies listed Below -

3M Co., Asahi Kasei Corp., EHA Hoffmann International GmBH, Erich Utsch AG, Fuwong License Plate, GibPlates, Godawari Techno Solution Pvt. Ltd., Hills Numberplates Ltd., Jepson and Co. Ltd., LC Security Equipment Co. Ltd., LicenSys Pty Ltd., Muschard Schildertechnik, ORBIZ, ReviverMx Inc., Rosmerta Technologies Ltd, SPM Systems Sp. zo.o. Sp. k., The Waldale Irwin Hodson Group, TONNJES E.A.S.T. INFRASTRUKTUR INVEST GmbH, UTAL Sp. z o.o, and Yarya Sekur Download a FREE Sample

Vehicle License Plate Market - Segmentation Analysis

The market is segmented by distribution channel (OEM and aftermarket), vehicle type (passenger cars (PC), light commercial vehicles (LCV), heavy commercial vehicle (HCV), and electric vehicles), and geography (APAC, Europe, North America, South America, and Middle East and Africa)

  • The market share growth by the OEM segment will be significant during the forecast period. OEMs mainly supply license plate frames to automakers or pre-installed license plate systems. These license plate systems are designed to fit specific OEM-manufactured vehicle models. Then, during the assembly process, car manufacturers will install license plates on the vehicle. Furthermore, the aftermarket distribution channel is for the sale and shipping of license plates to consumers after purchasing a new vehicle. Auto parts retailers, e-commerce platforms, specialty stores, and auto service centers are also among these channels. Hence, these factors are expected to drive segment growth during the forecast period.
  • APAC is estimated to contribute 42% to the growth of the global market during the forecast period. To procure the data - Buy the report!

Major Trends- The adoption of digital license plates is a major trend in the market.

Significant Challenge- Risks associated with technologically advanced license plates is a significant challenge restricting market growth. For Insights on the market dynamics & segmentations VIEW FREE PDF SAMPLE!

What are the key data covered in this Vehicle License Plate Market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the vehicle license plate market between 2023 and 2027
  • Precise estimation of the size of the vehicle license plate market and its contribution to the market with a focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the vehicle license plate market across APAC, Europe, North America, South America, and the Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of vehicle license plate market companies

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Vehicle License Plate Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.69%

Market growth 2023-2027

USD 220.39 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.23

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, Japan, Germany, and France

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Asahi Kasei Corp., EHA Hoffmann International GmBH, Erich Utsch AG, Fuwong License Plate, GibPlates, Godawari Techno Solution Pvt. Ltd., Hills Numberplates Ltd., Jepson and Co. Ltd., LC Security Equipment Co. Ltd., LicenSys Pty Ltd., Muschard Schildertechnik, ORBIZ, ReviverMx Inc., Rosmerta Technologies Ltd, SPM Systems Sp. zo.o. Sp. k., The Waldale Irwin Hodson Group, TONNJES E.A.S.T. INFRASTRUKTUR INVEST GmbH, UTAL Sp. z o.o, and Yarya Sekur

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution

7 Market Segmentation by Vehicle Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

First published on Thu, Sep 7, 2023

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Technavio Vehicle License Plate Market Heavy Commercial Vehicle (HCV) Automotive Winches System (AWS)

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