The research study conducted by Report Ocean on the “ Automotive Armrest Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
The automotive armrest is a feature seen in many modern vehicles that allow passengers to rest their arms. The armrest is frequently used to hold important items and make them easily accessible while driving. The driver frequently makes use of the front armrest, which folds away according to the user’s option and has storage compartments and even cup holders. The Automotive Armrest market is expanding because of factors such as increasing production and sale of new vehicles and growing number of passenger cars. Furthermore, the armrest on the rear seats is foldable and may be utilized as a third-person seat or a handrest. This feature is offered in high-end vehicles. In some designs where occupant safety is prioritized, such as Volvo vehicles, the armrest doubles as a kid seat with a fully adjustable seatbelt.
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According to Statista, in 2021 global car sales increased to roughly 67.2 million vehicles in 2022, up from around 66.7 million units. Furthermore, in terms of car production, India was one of the world’s leaders. In the fiscal year 2022, India’s overall automobile production volume was roughly 22.9 million units, an increase from the previous year. Another important component driving space increase is the number of passenger cars. As per Statista, in 2022, 57.5 million passenger cars were sold globally, up by about 1.9% year-on-year. At nearly 23.6 million units, China was the world’s largest regional market for automobiles. In addition, China has the world’s largest automobile market, with around 23.56 million passenger cars purchased in 2022. Also, rise in disposable income and increasing urbanization would create a lucrative growth prospectus for the market over the forecast period. However, high development costs of Automotive Armrest and lack of interior space stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Armrest Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rapid urbanization, increasing purchasing power in the region. North America is expected to grow significantly during the forecast period, owing to the presence of prominent automotive players and rising demand of luxury vehicles in the region.
Major market players included in this report are:
Grammer AG
Adient plc
Ningbo Jifeng Auto Parts Co., ltd.
Piston Group
Toyota Boshoku Corporation
TACHI-S CO., LTD.
Fehrer Group
Sydmeko Industri AB
Rati Kft
Martur Fompak International
Recent Developments in the Market:
In May 2023, Grammer AG has signed a supply agreement with BMW for the 7 series rear seat centre armrest. Integrated heating and 3D moulded genuine glass applications are among the features. Perforated leather or cashmere are used as trims. A slide-out drawer with a cup holder and a wireless charging pad is also included. A lighted compartment provides additional storage space, and a USB connector is also included.
Global Automotive Armrest Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Application Type, Sales Channel Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Application Type
Passenger Cars
Commercial Vehicles
By Sales Channel Type
OEM
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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