Vehicle Pillar Market is projected to be worth USD 11,870 Million by 2030, registering a CAGR of 6.1% during the forecast period (2022 - 2030). Currently, many vehicle pillar market players are substantially investing in product development and increasing production capacities. Also, substantial investments are made into the R&D centers of vehicle pillar manufacturing companies to test innovative prototypes.Â
Governments constantly update norms & regulations related to fuel-efficient vehicles, light-weighting automotive components, and passenger safety. Therefore, vehicle pillar manufacturers are innovating new technologies to improve manufacturing techniques & processes that can enhance vehicle safety. Moreover, increased accident rates worldwide foster the demand for advanced vehicle pillars.
The worldwide vehicle pillar industry appears extremely fragmented, considering the presence of well-established vehicle pillar manufacturers, distributors, and OEMs. They look for opportunities to integrate across the extensive value chain while focusing on R&D investments, production facility expansion, and M&A activities to gain impetus. New vehicle pillar industry players enter the market with aggressive pricing to undercut the established providers and gain footholds in international markets.Â
Top companies operating in the global vehicle pillar market include Kirchhoff Automotive Gmbh (Germany), Unipres Corporation (Japan), Tianjin Toyotetsu Automobile (Japan), G-Tekt Corporation (Japan), Toyotomi Kiko Co (Japan), Martinrea International (Canada), Tower International (US), Aisin Seiki (Japan), Shiloh Industries (US), Gestamp (Spain), Benteler Automotive (US), Sewon America (US), and Elsa LLC (US), among others.
Shiloh Industries, Inc. (US) is a leading global supplier of light-weighting, noise, and vibration solutions to the automotive, commercial vehicles, and industrial segments. The company delivers noise, vibration, and harshness (NVH) solutions through design engineering and manufacturing of first operation blanks, engineered welded blanks, complex stampings, and modular assemblies.
Shiloh’s body structure and interior system components embody its desire to keep passengers and cargo safe while providing a silent ride. Shiloh’s manufacturing capabilities are material-agnostic; the company designs and delivers solutions in the best material to meet the product requirements, working with aluminum, magnesium, conventional steel, and advanced high-strength steels.
The automotive industry is diversifying rapidly as manufacturers and suppliers race to produce lighter and more powerful at a greater speed. Moreover, factors such as the emergence of innovative lightweight materials, rising uses of alternative fuels, and innovative technology are fostering the vehicle pillar market share. The booming automotive industry, economic growth, and steadily increasing disposable income worldwide create substantial vehicle pillar market demand.Â
The vehicle pillar market is projected to witness significant growth in the recent future. Increasing automotive production would provide significant opportunities for the vehicle pillar market. The increase in demand for vehicle pillars from the automotive industry would create vast growth opportunities. Furthermore, governments in countries across the globe are increasingly reforming vehicle safety, and passenger safety norms are estimated to push the growth of the vehicle pillar market.
With technology updates in driver assistance systems, collision sensors and pedestrian sensors have improved developments of high-quality vehicle pillars. Apart from technological advances, manufacturers have been continually working to increase passenger safety, which, in turn, results in developing vehicle pillars with enhanced safety.Â
Despite the favorable growth prospects, manufacturers face significant setbacks. For instance, price volatility and the demand-supply gap in the raw materials required for vehicle pillar production act as major headwinds for the market growth. Besides, safety norms compliance requirements pose commercial and compliance challenges for both vehicle and parts manufacturers.
The global vehicle pillar market is segmented on the basis of pillar type, vehicle type, end market, and region. The pillar type segment is sub-segmented into A pillar, B pillar, C pillar, and D pillar. Among these, the A pillar segment dominates the market size, followed by the B pillar. The vehicle type segment is bifurcated into passenger vehicles and commercial vehicles. The passenger vehicle segment accounts for the highest market share.
The end market segment is sub-segmented into OEMs and aftermarket. The OEM segment accounts for the larger market share. In 2016, the segment accounted for an 88.17% market share in terms of revenue. By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, Italy, France, and Rest-of-Europe), Asia Pacific (Japan, India, China, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.
Asia Pacific accounts for the largest share in the global vehicle pillar market. The region accounted for 33.57% market share in 2016. APAC is a larger automotive aftermarket, which positively impacts the vehicle pillar market growth. Besides, factors such as the increase in the adoption of passenger cars and the increase in vehicle pillar adoption in passenger cars drive the market growth.Â
Rising consumer preference for looks and features, alongside the growing demand for light-weighting automotive parts, creates a substantial vehicle pillar market growth. The vehicle pillars demand is largely dependent on vehicle production; therefore, the growing vehicle production in the region would push the demand for vehicle pillars. With the increase in demand for commercial vehicles, the demand for vehicle pillar is expected to grow further.Â
North America captures the second-highest share in the global vehicle pillar market. The region is a lucrative market for vehicle pillars. Factors such as the rise in demand for automobiles and the immense demand for commercial vehicles, majorly in the United States, influence the vehicle pillar market share in the region. Moreover, the rapid industrial development and the rise in demand for fuel-efficient technologies are also expected to result in the high demand for vehicle pillars.
Europe generates a substantial demand for vehicle pillars globally, which influences the total valuation of this market. Heightened demand for vehicle pillars and the investments by several end-use industries position Europe among the strongest contenders in the global market. Furthermore, significant expansions of the OEMs, as well as aftermarkets in the region, add to the vehicle pillar market value.
The vehicle pillar market analysis features unique and relevant factors that would significantly impact the market growth during the forecast period. The detailed vehicle pillar market forecast would help industry players to better understand the market. The MRFR vehicle pillar market analysis elaborates on the historical and current trends boosting the vehicle pillar market growth.Â
Additionally, the analysis of COVID-19 impact on the vehicle pillar market is also included in the report. Regional assessment in this report unlocks several untapped opportunities in regional and international market spaces. Detailed company profiling enables users to evaluate company shares, scope of the existing & emerging product lines in new markets, pricing strategies, innovation possibilities, and much more.
| Attribute/Metric | Details |
| Market Size 2030 | USD 11,870 Million |
| Compound Annual Growth Rate (CAGR) | 6.1%(2022-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Pillar Type, Vehicle Type, End Market |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Unipres Corporation (Japan), Tianjin Toyotetsu Automobile (Japan), Kirchhoff Automotive Gmbh (Germany), Toyotomi Kiko Co (Japan), Martinrea International (Canada), G-Tekt Corporation (Japan), Aisin Seiki (Japan), Shiloh Industries (US), Tower International (US), Benteler Automotive (US), Sewon America (US), Gestamp (Spain), and Elsa Llc (US). |
| Key Market Opportunities | Increasing automotive production Governments in countries across the globe are increasingly reforming vehicle safety, and passenger safety norms Technological advances, manufacturers have been continually working to increase passenger safety |
| Key Market Dynamics | Emergence of innovative lightweight materials, rising uses of alternative fuels, and innovative technology The booming automotive industry, economic growth, and steadily increasing disposable income |
Vehicle Pillar Market Highlights:
Frequently Asked Questions (FAQ):
The vehicle pillar market is likely to augment at 6.1% CAGR.
The participants of the vehicle pillar market are Unipres Corporation (Japan), Tianjin Toyotetsu Automobile (Japan), Kirchhoff Automotive Gmbh (Germany), Toyotomi Kiko Co (Japan), Martinrea International (Canada), G-Tekt Corporation (Japan), Aisin Seiki (Japan), Shiloh Industries (US), Tower International (US), Benteler Automotive (US), Sewon America (US), Gestamp (Spain), and Elsa Llc (US).
The vehicle pillar market is projected to expand on account of increasing sales of automobiles.
The vehicle pillar market is poised to value at USD 11,870 Million by 2030.
By end market, the OEM segment held the largest share of the market.
The A pillar segment dominated the market in 2016.
By pillar type, the segments profiled are A Pillar, B Pillar, C Pillar and D Pillar.
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Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
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