The Global License Plate Frame Market size is expected to witness a CAGR of 5.1% from 2021 to 2028. The market was valued at USD 1.6 billion in 2018 and is projected to reach USD 2.3 billion by the end of 2028 with most shares attributed to the OEM segment due to their increasing demand for quality products that can meet international safety standards and regulations across various regions globally. The global market for license plate frames has been growing rapidly on account of their increasing demand in various countries. License plate frame manufacturers have come up with new designs and innovative features to cater to this high demand from consumers.
A License Plate Frame is a car accessory to hold license plates. It comes in many styles and shapes, depending on where it's being used. For example, if someone lives in an earthquake zone or hurricane area, the frame might be designed so that it can detach from the vehicle when shaken hard enough by strong winds or large tremors. Other frames are made of clear plastic with graphics printed on them; these often have sports logos for those who want their vehicles to show support for their favorite teams.
On the basis of Type, the market is segmented into Two Mounting Holes and Four Mounting Holes. The type segment is classified on the basis of mounting holes present in license plate frames for cars; it provides basic information about different types available with respect to their product category. A license plate frame with two mounting holes comes amply handy when a vehicle owner needs a replacement or if they want to attach an aftermarket device like a GPS receiver to their vehicle. However, this type of license plate frame is not suitable for vehicles that are manufactured in Japan or China because they have four mounting holes which can accommodate the Japanese-made license plates. The four mounting hole type is more popular in the market because it can be used for vehicles with powerful engines to hold license plates firmly on the car frame.
This type of plate frame has two mounting holes. The frames are mounted on the bottom corners and affixed to the vehicle by screws that pass through these holes.
License plate frames with four mounting holes are designed for automobiles. License plates in the United States usually have three mounting points, but some states require a fourth point to be added because it is easier to remove and replace the license plate without damaging other parts of the car or getting scratched by other objects. More economical frame designs also use this type of system which requires only one hole in each corner of an automobile's bumper instead of two on top and bottom. These types of frames do not allow for customization such as logos, text, or images that can go along with your vehicle's personality or needs.
On the basis of Application, the market is segmented into OEMs and Aftermarkets. The application segment provides information about different applications available in the global market with respect to the material used, end-user, and region. The industry research report includes various segments based on product materials; it mentions diverse types such as plastic and metal frames use for cars as well as motorcycles respectively. Besides these physical properties, other parameters like aftermarket device compatibility also influence the viability of a specific type within a particular application category. OEMs prefer plastic frames while aftermarket buyers opt for more durable products like steel.
OEM is the abbreviation for Original Equipment Manufacturer, which refers to a manufacturer that sells its products exclusively to purchasers who intend those products for resale or use in manufacturing other than production by the purchaser. Aftermarket is sub-segmented into non-OEMs which comprise a major share of this application due to its lower cost than OEM counterparts and repairers that require license plate frames as one among other replacement parts during vehicle repairs.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In North America, the market is expected to lead in terms of revenue generation with a significant growth rate. On the other hand, Asia Pacific would be leading for the fastest-growing demand from 2021-2028.
In Europe, plastic frames are more commonly used while aftermarket buyers opt for more durable products like steel. Non-OEMs comprise a major share of this application due to its lower cost than OEM counterparts and repairers that require license plate frames as one among other replacement parts during vehicle repairs.
Up Market Research published a new report titled “License Plate Frame Market research report which is segmented by Types (2 mounting holes, 4 mounting holes), By Applications (OEMs, Aftermarket), By Players/Companies GTR Manufacturing Corp, Mitchell Marketing, Matrix Metalcraft, Recognition Express, Namify, Graphic Images”.
|Report Attributes||Report Details|
|Report Title||License Plate Frame Market Research Report|
|By Type||2 mounting holes, 4 mounting holes|
|By Application||OEMs, Aftermarket|
|By Companies||GTR Manufacturing Corp, Mitchell Marketing, Matrix Metalcraft, Recognition Express, Namify, Graphic Images|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||240|
|Number of Tables & Figures||168|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type 2 mounting holes, 4 mounting holes and By Application OEMs, Aftermarket.
Some of the companies that are profiled in this report are:
License Plate Frame Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the License Plate Frame Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the License Plate Frame Market Report:
Some other reports from this category!