Several of the primary reasons fueling the market's expansion is the expanding demand for automotive turnover boxes from the passenger and commercial vehicle industries. In the near future, there will likely be a large demand for these products due to the growing number of automobiles in developing nations like Brazil, Mexico, China, India, and the latter three. Furthermore, a surge in its application by automotive manufacturers around the world is a result of consumers' increasing awareness of product safety and reliability. These boxes are popular among clients in part because of the availability of a wide range of sizes, forms, patterns, and materials utilised in their construction. The expanded selection that suppliers are providing will further improve the segment's growth chances during the projection period. Additionally, during the projected period, growing investment by top automakers across various regions is anticipated to fuel market expansion.
The automotive sector needs the Automotive Turnover Box market because it offers a secure and efficient means of packaging and delivering items. It offers comfort and accessibility to operators while protecting delicate products from injury while in transit or storage. Additionally, these boxes are made to serve a variety of functions, including shielding contents from contamination and weather conditions like snow, rain, and dust. Thus, the expanding automobile demand for turnover boxes offers market players a fantastic chance to profit from this developing trend.
A sort of packaging container called an "automobile turnover box" is used in the automotive sector to store, guard against damage, and transport products. Polypropylene or other robust materials that can survive harsh environmental conditions, such as moisture and temperature changes, are used in the design of these boxes. Depending on the requirements of the application, they are available in various sizes and shapes. Small turnover boxes, huge turnover boxes, and smart turnover boxes are some examples of common varieties. These boxes can be used to package products effectively and protect them from the weather while in transportation, which is advantageous for both businesses and customers. It also lessens product damage because it offers superior protection compared to other traditional packaging techniques.
During the forecast period of 2021–2031, the global automotive turnover box market is anticipated to expand at a CAGR of roughly 4.7%, from an approximate value of USD 5.90 billion in 2021 to an expected value of USD 8.22 billion in 2031. Due to their growing utility in packaging, safeguarding, and transporting items, automotive turnover boxes are in greater demand from both the commercial and passenger vehicle segments.
There are various difficulties for the automobile turnover box market. High production costs, strict government laws regulating the disposal of plastics, and the availability of alternatives such as bulk packaging and paper-based containers are a few of these. Rising costs for the raw materials used in manufacturing are another factor impeding industry expansion. Nevertheless, the market is anticipated to expand steadily over the next several years, supported by innovations including the introduction of novel materials and lightweight goods that are appropriate for industrial settings.
The Small Turnover Box Category emerged as the Most Lucrative Type
Due to their lightweight, compact size, and ease of handling, small turnover boxes are anticipated to continue being the most popular option among consumers. These boxes are more affordable than big automotive turnover boxes and are easily utilized for packaging, safeguarding, and transporting tiny products.
The Most Prominent Application is the Commercial Vehicle Segment
During the forecast period, it is anticipated that the commercial vehicle category would be the largest and fastest-growing segment. This can be linked to an increase in global commercial vehicle manufacturing as well as increased automotive demand from developing nations like China, India, and Brazil. Additionally, the market in this sector is anticipated to have significant development prospects due to the expanding use of turnover boxes in manufacturing facilities.
The North American Region to render Ample Financing Opportunities
During the projected time, the Asia Pacific region is anticipated to lead the automotive turnover box market. The rise in demand for automotive turnover boxes from the e-commerce sector, combined with an increase in the manufacture of commercial and passenger vehicles, are both responsible for the growth. The introduction of new technologies like smart turnaround boxes is further anticipated to fuel market expansion in this region.
COVID-19 Impact and Market Status
The automotive sector has been severely impacted by the COVID-19 epidemic in 2020, and this effect is anticipated to last into 2021. Due to worldwide lockdowns and limitations, the production and sales of cars have dramatically declined. The market for turnover boxes has also been harmed by this. However, it is projected that in 2021, the market will begin to show signs of recovery and vehicle manufacturing will begin to steadily increase. The global Automotive Turnover Box Market is anticipated to expand as a result of the rising demand for automotive turnover boxes from various end-use applications.
Kardex Remstar International GmbH & Co. KG, Hilmot LLC, L&J Technologies Inc., Jervis B. Webb Company (Daifuku Co. Ltd.), SSI Schäfer Group (SSI Schaefer AG), Interroll Holding AG, TGW Logistics Group GmbH, Dematic Corporation, BEUMER Group GmbH & Co. KG, and others are some of the major companies active in the global automotive turnover box market. To address the increased client needs, these players are concentrating on growing their product portfolio by introducing new goods with cutting-edge innovations.
Recent Developments in the Automotive Turnover Box Market
• A joint venture agreement for the production of high-end electronics and body structures was struck in March 2019 by Schmöller GmbH, a German automotive component supplier, and Bharat Forge, an Indian multinational automotive components manufacturing firm.
• The production of big plastic bespoke parts and automotive turnover box items will be facilitated by the addition of rotomolding capabilities, according to a 2020 February announcement from E&E Manufacturing USA LLC.
• Magna International Inc., a diversified Canadian global automotive supplier, and Audi AG have secured a contract to produce e-Tron battery modules in Europe starting in April 2020.
• Outokast, an Indian manufacturer that specialises in automobile rotomolding, announced the introduction of its new product line, Automotive Turnover Boxes, in May 2021. To satisfy the various needs of customers, the boxes come in a variety of sizes and hues.
• Autokast said in January 2022 that the introduction of a new line of plastic containers for automotive purposes will diversify its product line. The items are made to offer safe and secure transportation storage for automobile parts and components.
Automotive Turnover Box Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 8.22 billion|
|Growth Rate||CAGR of 4.7% during 2022-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Kardex Remstar International GmbH & Co. KG, Hilmot LLC, L&J Technologies Inc., Jervis B. Webb Company (Daifuku Co. Ltd.), SSI Schäfer Group (SSI Schaefer AG), Interroll Holding AG, TGW Logistics Group GmbH, Dematic Corporation, BEUMER Group GmbH & Co. KG, and others|
Key Segments of the Automotive Turnover Market
Type Overview, 2021-2031 (USD Billion)
- Small Turnover Box
- Large Turnover Box
Application Overview, 2021-2031 (USD Billion)
- Commercial Vehicle
- Passenger Car
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa