Aug. 15, 2024
With the rapid development of the automotive industry, the demand for vehicle components is continually evolving. powered side steps, as an emerging automotive accessory, have demonstrated strong growth in market demand in recent years. This article delves into the current state of the electric running board market, the driving factors, market challenges, and future trends, with an ultimate focus on understanding market demand, while considering the characteristics of automotive components like electric tailgate struts.
automatic side steps for suv, designed to enhance vehicle convenience and safety, have seen significant growth. According to MarketsandMarkets, the global electric running board market was valued at approximately $1.6 billion in 2023 and is expected to grow to $2.5 billion by 2028, with an annual growth rate of about 8.7%【1】.
Electric running boards are mainly categorized into:
Automatic Retractable Boards: Automatically extend when the car door opens and retract when the door closes.
Electric Assist Systems: Provide additional foot support via electric drive, enhancing vehicle safety and comfort.
These products are commonly found in luxury and high-end SUV markets, but their application is expanding to include more mid-range and economy models.
Luxury and Smart Vehicle Trends: As consumers increasingly demand comfort and convenience in vehicles, the intelligent features of Newest Style Car Side Pedal are becoming a major attraction. The automation of electric running boards not only enhances the luxury feel of a vehicle but also increases usability.
Increased Safety Requirements: Electric running boards help mitigate risks when entering and exiting vehicles, particularly for higher SUVs and MPVs. This added safety feature improves the overall driving experience.
Environmental and Energy Efficiency Trends: Electric running boards align with modern automotive energy-saving and eco-friendly principles. Replacing traditional mechanical structures with electric drives reduces vehicle energy consumption, meeting green travel requirements.
Market Segmentation and Customization: As the market becomes more segmented, consumers’ demand for personalized automotive parts is rising. Electric running boards, which can be customized according to consumer preferences, cater to this demand for diverse product offerings【2】.
Despite the promising outlook, the electric running board market faces several challenges:
High Cost: The manufacturing cost of electric running boards is relatively high, which poses a barrier to widespread adoption in mid-range vehicles. Although technological advancements may reduce costs over time, high costs remain a significant hurdle.
Technical Complexity: The electric running board system involves complex components such as motors and control modules, which require advanced production techniques and stringent quality control. Technical difficulties and quality issues can affect consumer experience and market acceptance【3】.
Market Education and Awareness: While electric running boards offer clear advantages, consumer understanding of their functions and benefits is still developing in some markets. Enhanced market education and promotion are needed.
Technological Innovation and Smart Development: Future electric running boards will likely emphasize further integration of smart technologies and high-tech features. For example, incorporating more intelligent sensors and automatic adjustment functions will enhance usability.
Cost Reduction and Broader Adoption: With advancements in production technology and economies of scale, the cost of electric running boards is expected to decrease, facilitating broader application in various vehicle segments, including mid-range models【4】.
Increased Market Competition: The number of electric running board manufacturers is rising, leading to heightened market competition. To stand out, manufacturers will need to innovate continuously, improve product quality, and manage costs effectively.
Electric running boards represent a growing segment within the automotive accessory market. The primary driving factors include luxury vehicle trends, safety requirements, environmental efficiency, and market demand for customization. Although challenges such as high costs, technical complexity, and market education exist, advancements in technology and market maturation present promising opportunities.
As a manufacturer of automotive electric tailgate struts, we can draw insights from the development of electric running boards to explore expansion opportunities in high-end accessory markets, focusing on technological innovation and cost control to adapt to market changes and consumer needs.
