DUBLIN--(BUSINESS WIRE)--The "Global Automotive Armrest Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global automotive armrest market is projected to grow at a CAGR of 1.35% during the forecast period, to reach a market size of US$11.143 billion in 2025 from US$10.284 billion in 2019.
This growth is attributable to the increasing preference of people to have additional comfort features in their vehicles. An automotive armrest is a feature that is provided in the vehicle on which the occupants can rest their arms. Armrests add to the overall comfort of the car and make the driving experience convenient for the driver. The armrest is located either in the front of the vehicle, rear of the vehicle or both.
Armrests are provided in some mid-range cars and all luxury vehicles. Although, the people who are interested to install this feature can also purchase these parts through the aftermarket. The armrest in the front also contains a storage space, which allows the driver to store belongings inside. Additionally, on the back of the front armrest, cup holders and air conditioning vents can be provided to enhance the comfort of passengers in the back.
This rising demand of additional comfort features in the vehicles will result in an increase in demand, resulting in the growth of the automotive armrest market. There has been an increase in the production of passenger vehicles due to increasing demand, which can attributed to the rising disposable income of people and increase in purchasing power, which will drive the automotive armrest market over the forecast period.
However, declining vehicle sales in some countries will act as a restraint in the market growth. The automotive armrest market has been segmented by position, vehicle type, sales channel, and geography. By position, the front armrest holds a significant share in the market owing to the fact that it is the most common feature in some mid-range as and also has an additional storage feature. By vehicle type, passenger car is expected to hold a considerable amount of share in the market, which is attributable to the rising disposable income of people coupled with increasing purchasing power.
Key Topics Covered:
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Automotive Armrest Market Analysis, by Position
6. Global Automotive Armrest Market Analysis, by Vehicle Type
6.2. Passenger Vehicle
6.3. Light Commercial Vehicle
6.4. Heavy Commercial Vehicle
7. Global Automotive Armrest Market Analysis, by Sales Channel
8. Global Automotive Self Drive Car Rental Market Analysis, by Geography
8.2. North America
8.2.1. North America Armrest Market, By Position, 2018 to 2024, US$ billion
8.2.2. North America Armrest Market, By Vehicle Type, 2018 to 2024, US$ billion
8.2.3. North America Armrest Market, By Sales Channel, 2018 to 2024, US$ billion
8.2.4. North America Armrest Market, By Country, 2018 to 2024, US$ billion
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. Adient plc
10.3. Windsor Machine Group
10.4. GRAMMER AG
10.6. Sydmeko Industri AB
10.7. BOS GmbH & Co. KG
10.8. WOOD COMPANY ITALY
For more information about this report visit https://www.researchandmarkets.com/r/nzb3ot