Automotive Conversion Kit Market Growth 2016-2026
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Global <strong>Automotive</strong><br />
<strong>Conversion</strong> <strong>Kit</strong><br />
<strong>Market</strong><br />
Share, Global Trends,<br />
Analysis, Research, Report,<br />
Opportunities,<br />
Segmentation and Forecast,<br />
<strong>2016</strong> – <strong>2026</strong><br />
Future <strong>Market</strong> Insights<br />
www.futuremarketinsights.com<br />
sales@futuremarketinsights.com
Report Description<br />
OEMs and manufacturers in the automotive industry are gradually shifting their focus towards vehicle<br />
modification, wherein they can customize the vehicle as according to the customer requirement and desires,<br />
instead of purchasing new vehicles. Making use of automotive conversion kits proves to be more economical<br />
for customers, as they can fulfill their required need by modification. This trend of customization is further<br />
expected to gain traction over the forecast period and drive the need for automotive conversion kit among<br />
end users. The global automotive conversion kit market is forecast to grow at a healthy rate over the forecast<br />
period primarily due to the growing automobile production globally.<br />
Majority of the conversions are performed by hobbyists, who converts a used vehicle consisting of a nonfunctioning<br />
engine, since such vehicles are relatively inexpensive to purchase as compared to unused or new<br />
vehicles. Hobbyists having larger budgets prefer converting a vehicle model of only a particular type.<br />
In countries such as U.S., Canada, U.K., and Germany etc., the customer has a facility to buy an already<br />
converted vehicle, paying only the cost of the batteries and motor, with no installation costs. This is also<br />
known as pre-conversion.<br />
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<strong>Automotive</strong> <strong>Conversion</strong> <strong>Kit</strong> <strong>Market</strong> Dynamics<br />
The market of automotive conversion kit is driven by the escalating safety measure that need to be<br />
considered while driving a vehicle. Another factor that is driving the market is the availability of the old car.<br />
These old car required an energy saving kit which interrupt during the ignition process for better energy<br />
consumption.
Report Description<br />
Apart from this, rising environmental issues related to global warming and decreasing fossil fuel will drive<br />
the market for the use of automotive power consumption kit. The factor that is restraining the growth of<br />
automotive power consumption kit is the high cost of the kit as well as the installation charges. Another<br />
factor that might hinder the growth of this market is that sometimes OEMs never allowed the customer to<br />
customize their vehicle while purchasing it. It has been observed that, beside these factors customization is<br />
the trend that is there for over a long period of time due to which aftermarket conversion is rising.<br />
<strong>Automotive</strong> <strong>Conversion</strong> <strong>Kit</strong> <strong>Market</strong> Segmentation<br />
The <strong>Automotive</strong> conversion kit market cab be segmented on the basis of application, vehicle types and<br />
Regions wise. On the basis of application, automotive conversion kit can be segmented into Power<br />
conversion kit, Brakes conversion kit, Lights conversion kit, Locking system conversion kit, steering<br />
conversion kit and Energy saving conversion kit. Power conversion kit can further sub-segmented into diesel,<br />
propane, CNG, electric batteries and hydrogen. Brakes conversion kit can be further sub-segmented into<br />
Drum brakes and Disk brakes which can be further categories into rear brakes and front brakes. Light<br />
conversion kit can be sub-segmented into halogen, xenon, LED and laser which can further be categories into<br />
head light and tail light. On the basis of region, it can be segmented into North America, Latin America,<br />
Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa.<br />
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Report Description<br />
<strong>Automotive</strong> <strong>Conversion</strong> <strong>Kit</strong> <strong>Market</strong> Regional Outlook<br />
North America is on a strong upside potential as economy is on a stronger employment base and low<br />
interest rates which increase the automotive industry due to which the market for automotive conversion kit<br />
will show an increase in North American <strong>Automotive</strong> <strong>Market</strong>. Chinese market will show the increase in<br />
passenger vehicle as government announced the reduction in the taxfor purchasing cars which will increase<br />
the sales of automotive conversion kit.<br />
<strong>Automotive</strong> <strong>Conversion</strong> <strong>Kit</strong> <strong>Market</strong> Major Players<br />
The major players across the automotive conversion kit market are Stark <strong>Automotive</strong>, Hidlook, SkyCNG,<br />
Nash Fuel, Inc., Canadian Electric Vehicles Ltd., EuropeGAS and Unitex Gas Equipment. Players in the global<br />
automotive conversion kit market are focused on mergers and acquisition along with new product launch to<br />
increase their market presence.<br />
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