Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Truck Bedliner Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Drop-In Bedliners, Spray-On Bedliners, and Others), Material (Polyurethane, Aluminum Carpet, and Others), and Geography,” the market is projected to grow from US$ 500.95 million in 2022 to US$ 641.40 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2022 to 2028.
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Truck Bedliners Market: Competitive Landscape and Key Developments
American Bedliners Custom Truck Shop; CHAMÄLEON GMBH; DualLiner Truck Bed Liners; Henan Huayu Auto Accessories Manufacturing Co. Ltd; Line X LLC; Rhino Linings Corporation; SPEEDLINER; TOFF; Truck Hero, Inc, are among the leading players profiled in the truck bedliners market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments are mentioned below:
In 2020, LINE-X—the leading manufacturer of high-performance protective coatings—announced that it had launched a program with International Truck, the commercial truck brand of Navistar International Corporation. The program allows International Truck dealers to use LINE-X's protective coatings to improve the protection and extend the life of its renowned truck models.
In 2021, TCI Products—a manufacturer of auto refinish coatings—announced the release of its newest product, "Shield Bedliner," a 2k urethane-based bedliner and coating solution.
Global Truck Bedliner Market Scope:
| Market Size Value in | USD 500.95 Million in 2022 |
| Market Size Value by | USD 641.40 Million by 2028 |
| Growth rate | CAGR of 4.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| Segments covered | Type, Material |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Growing Adoption of Electric Vehicles
The growing demand for low-emission vehicles and supportive government initiatives, such as subsidies and tax rebates for adopting zero-emission vehicles, increase the sales of electric vehicles. As per the report by Internation Energy Association (IEA), electric truck sales are expected to grow to 324,100 units by 2026 from ~10,200 in 2018. According to the press release of Ford, nearly half of its global vehicle production will be all-electric by 2030, and all of its new electric trucks will use all accessories, including bedliners. As per the European Commission, new emission targets set for passenger cars and light commercial vehicles for the period after 2020 will be a 37.5% decrease in carbon dioxide emissions for new cars and a 31% emission decrease for light commercial vehicles like vans by 2030. Thus, the growing adoption of electric trucks would fuel the demand for advanced bedliners. For instance, in 2021, Roll-N-Lock used rust-resistant galvanized metal and specifically engineered bedliners for hybrid and electric vehicles. Thus, such trends for developing bedliners for the EV industry would drive the truck bedliners market over the forecast period.
Europe is one of the most important truck bedliners markets. Horizon 2020 is one of the key initiatives in the region comprising the implementation of digitization and cybersecurity in the rail sector. Modern trains consist of sophisticated technologies that need an active internet connection to operate and receive signals to and from the control station. If a hacker discovers a vulnerability, it is easy to hack the system. For instance, in 2022, a cyberattack targeted Ferrovie Dello Stato Italiane (FS), Italy's national railway company. The freight transport by rail was suspended temporarily due to cyberattacks. Further, in 2021, new self-service ticket machines of Northern Rail, one of the UK's local railway systems covering the north of England, were targeted by a suspected ransomware cyber-attack. Such incidents signify that rail infrastructure requires reliable and robust railway communications network security with new technologies and process measures. Cybersecurity will make the framework simple and versatile in the railway industry and make innovative advances. It can give information assurance, application security, and framework administration. Thus, all these factors are likely to boost the regional truck bedliners market growth during the forecast period.
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Truck Bedliners Market: Industry Overview
Based on the truck bedliners market report, the truck bedliners market is segmented into type, material, and geography. Based on type, the truck bedliners market is segmented into drop-in bedliners, spray-on bedliners, and others. In terms of material, the truck bedliners market is segmented into polyurethane, aluminum carpet, and others. Based on geography, the truck bedliners market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
The rising truck manufacturing business in Asia Pacific is driving the expansion of the auto components manufacturing industry, particularly in nations such as China, Korea, and India. The demand for a vast and diverse number of truck parts and components is growing with the rise in electric truck production. As a result, some businesses are focusing on expanding their manufacturing lines and distribution networks to channel the sales of their products, including bedliners. However, in 2020, the COVID-19 outbreak significantly limited the business operations of truck part and component manufacturers. Trade restrictions and bedliners consumption disrupted supply chains fell due to government lockdowns worldwide. However, government incentives, expanding product demand, and the easy availability of raw materials are expected to boost the truck bedliners market growth during the forecast period. For instance, India's Truck Mission Plan FAME-II prioritizes government assistance to the country's burgeoning truck and truck component manufacturing industries. The truck part and component manufacturing business has undergone extensive renovation in recent years, resulting in the emergence of a highly competitive industry.
Go through further research published by The Insight Partners:
High-Performance Trucks Market- Global Analysis and Forecast to 2030
Commercial Truck Market- Global Analysis and Forecast to 2030
Utility Trucks Market- Global Analysis and Forecast to 2030
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