Kenneth Research, in its repository of market research reports, have recently added a report on Vehicle License Plate Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Vehicle License Plate Market products.
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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
The Vehicle License Plate Market is expected to grow at a significant CAGR during the forecast period. Increasing demand for commercial and personal electric vehicles around the globe is anticipated to drive the growth of the MARKET over the forecast period. According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Kenneth Research has added a report on Vehicle License Plate Market that involves the analysis of the product demand and market on the basis of various factors and by using different analytical tools for the forecast period 2021-2025.
The Vehicle License Plate Market is expected to grow at a significant CAGR during the forecast period. Increasing demand for commercial and personal electric vehicles around the globe is anticipated to drive the growth of the MARKET over the forecast period. According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
Global Vehicle License Plate Market was valued at USD 490 Million in the year 2019. Global Vehicle License Plate Market is further estimated to grow at a CAGR of 1.8% from 2019 to reach USD 549 Million by the year 2025. A vehicle license plate, also known as a number plate or a registration plate, is a metal or plastic plate attached to a motor vehicle or trailer for official identification purposes. All countries require registration plates for road vehicles
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The growth in emerging industry, in line with the ongoing industrialization, and global trade activity. Particularly in the BRIC countries. Has been vigorous. Over the last few years, China has maintained its position as the world’s largest automotive market. The automotive industry in India is dynamic and is rapidly growing: therefore, many auto OEMs are entering the market to tap the huge potential.
Major market players in Vehicle License Plate Market are Utsch AG, SAMAR’T, WIHG, Hills Numberplates, JH Toennjes, SPM Groupe, Rosmerta Technologies, EHA Hoffmann, Jepson, Bestplate, Fuwong, Shanghai Fa Yu Industrial, Xialong Traffic, GREWE, KUNIMITSU KOGYO, and brief information of 5 more companies is provided in the report.
Vehicle License Plate Market Segmentation:
Vehicle License Plate Market Overview, By Product
Aluminum License Plate
Plastic License Plate
Other
Vehicle License Plate Market Overview, By Application
Passenger Vehicles
Commercial Vehicles
Vehicle License Plate Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa”
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