The US car bumper guard market is anticipated to register a CAGR of about 8% during the forecast period (2020-2025).
- Luxury cars are very expensive to fix after a minor collision. Although rapidly developing technologies, such as sensors and cameras, are available in the current market, the demand for additional guards that protect the bumper has increased.
- With the increasing demand, manufacturers are also focusing on developing better products that can withstand the impact, thereby, reducing (eliminating) the costs incurred after a collision.
- An average bumper repair cost in the United States is estimated to be USD 1,200, and this can even go higher, based on the component’s color.
- The increasing number of vehicles and rising road traffic have created further demand for bumper protectors.
Key Market Trends
Online Sales Anticipated to Grow Significantly over the Forecast Period
Over the last few years, with the rise in the number of internet users and the increasing availability of online auto parts and components suppliers, online sales of auto parts increased significantly.
Several companies have developed their online websites, where customers can purchase bumper guards, sometimes at a discounted price. On the downside, there are challenges in the size and fitting of bumper guards, as well as in the quality of the delivered product, which may vary from the one displayed on the website.
According to several surveys, for about 68% of the auto parts, buyers research the product on manufacturers’ websites before purchasing the product online. Although there are several established firms that sell auto parts and components, most of the buyers purchase them either from the company’s website or from Amazon.
The price of the product is more or less the same, both via online and in retail auto parts and accessories stores. However, a few times, e-commerce websites offer discounts to customers.
- Luv-Tap: Manufacturer price is USD 139, and online price is USD 99.
- Bumper Badger: Manufacturer price is USD 34.95-USD 44.95, and online price is USD 39.95
- Parking Armor: Manufacturer price is USD 59.95-USD 79.95, and online price is USD 59.95-USD 69.95
Increasing Demand for Luxury Cars is Driving the Market
With the increasing demand for luxury cars, the demand for bumper guards has also increased. Although there are several local companies that manufacture bumper guards, there are a few manufacturers that offer standard products that can withstand all weather conditions and are easy to fix.
Bumper guards are made of materials, such as plastic, rubber, and thick fabric. In order to withstand impact, rubber is used most commonly for luxury cars. However, the rubber bumper guard cannot be attached to the car while driving it. They must be removed and attached when parked. Fabric bumper guards offer better flexibility, and they wrap around the curves of the car more easily.
Most of the bumper guards are suitable for cars with license plates above the bumper. For cars with license plates on the bumper, a few manufacturers offer the flexibility to cut the portion of the material. Most buyers opt for guards that cover a maximum part of the bumper, and there is no significant preference for brands, owing to the similarity in the price range and quality of products.
The US car bumper guard market is dominated by players, such as Luv-Tap, Bumper Badger, Parking Armor, and Bumper Bully.
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Table of Contents
1.2 Scope of the Study
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Passenger Car
5.1.2 Commercial Vehicle
5.2 Sales Channel Type
6.1.2 Bumper Badger
6.1.3 Parking Armor
6.1.4 Bumper Bully
A selection of companies mentioned in this report includes:
- Bumper Badger
- Parking Armor
- Bumper Bully