LONDON--(BUSINESS WIRE)--The global automotive armrest market size is poised to reach USD 371.53 million by 2023, according to a new report by Technavio, progressing at a CAGR of over 5% during the forecast period.
Read the 120-page research report with TOC on " Automotive Armrest Market Analysis Report by Application (passenger vehicles and commercial vehicles) and geographical regions (North America, Europe, APAC, South America, and MEA) 2019 - 2023". Request Free Sample Pages
The market is driven by the rising focus by OEMs to provide better vehicle interior solutions. In addition, the increase in long-distance travelling is expected to boost the demand for automotive armrests during the forecast period.
Automotive interiors act as a differentiating factor for OEMs in the highly competitive automotive market. Stringent government regulations regarding lightweighting and vehicle safety are encouraging automotive seat manufacturers to design and develop vehicle seats and their components using advanced composite materials. Seat manufacturers manufacture electronically controlled seats wherein vehicle occupants can adjust the height of the seat and adjust the sliding armrest as per convenience and comfort. Moreover, most leading seat manufacturers are incorporating advanced technologies in their vehicle seats. These factors will contribute to the global automotive armrest market during the forecast period.
Furthermore, the improvements in road infrastructure in emerging countries and the increasing prominence of road transportation for long journeys is also expected to play a crucial role in the adoption of advanced seating systems. Vendors are developing vehicle seats fitted with technologically advanced armrests and headrests, for passenger and driver comfort. Such features are expected to further boost the adoption rate of automotive armrests.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Adient Plc
- Faurecia SA
- GRAMMER AG
- Piston Group
- TACHI-S Co. Ltd.
Market Segmentation by Category and Product Types:
The Automotive Armrest Market can be broadly categorized into the following applications:
- Passenger vehicles
- Commercial vehicles
Key Regions for the Automotive Armrest Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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