According to Cognitive Market Research, the global automotive accessories market size will be USD 531251.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.80% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 212500.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 159375.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 122187.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 26562.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 10625.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
The internal component category is the fastest growing segment of the automotive accessories industry
