Changing Perceptions of Truck Drivers has Fuelled Growth in the Light Truck Exterior Protection Accessories Aftermarket

DUBLIN, Ireland--The North American light truck exterior protection accessories aftermarket is in a state of transition. Older product lines are declining, but they are being replaced with new products that offer strong growth potential. For example, grille/brush guards are losing ground to bull bars, nudge bars, and pre-runner bars. Markets for billet and stainless steel grilles will grow faster than those of the other categories, reflecting truck owners’ changing perceptions of exterior accessories as decorative, rather than protective products. "Short product life cycles challenge suppliers not only to develop products for new vehicle applications, but also to develop completely new product categories," according to the analyst of the study. "To take advantage of these opportunities, manufacturers must emphasize being first to market or risk being shut out of the largest sales channels."

Despite their protective purpose, the light truck exterior protection accessories aftermarket is basically a style business. New product styles appeal to new customers and serve to renew interest among existing customers. Some examples include painted hood shields featuring university logos and colors and stainless steel grille inserts featuring personalized badges in the center. It is believed that a majority of truck owners purchase exterior protection accessories mainly to enhance the appearance of the vehicle rather than to protect it.

Increasingly Appealing Accessories Also Aid in Boosting this Market's Growth Potential

One of the main reasons for the slow growth of this market is that the trucks have changed, but manufacturers have been slow to respond to the changing preferences of these vehicle owners. For example, there are very few applications for the fast-growing crossover utility vehicle (CUV) segment. Also, General Motors and Ford have launched their own accessory programs offering exterior protection options to truck buyers. If aftermarket manufacturers cannot effectively compete with these OEMs, their future opportunities may be limited.

The popularity of exterior protection accessories among truck owners and the increasing participation of the OEMs in truck accessory programs has resulted in new truck models that are regarded as 'more customizable' than older models from the 1990s. "The curvy, sloping lines of today's models contrast with the sharp angles found on old pickups and make the tubular styling of front bars and side rails more appealing," explains the analyst. "Besides, the relative affordability of exterior protection accessories will support growth for manufacturers among truck enthusiasts with a low spending threshold, thus boosting market growth."