Global Automotive Armrest Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Position (Front, Rear), By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), By Sales Channel (OEMs, Aftermarket), And By Geography - Forecasts From 2022 To 2027
- Published : Sep 2022
- Report Code : KSI061613147
- Pages : 130
The global automotive armrest market is projected to grow at a CAGR of 4.77% during the forecast period, to reach a market size of US$12.207 billion in 2027, from US$8.807 billion in 2020. To further improve the comfort of those in the back, cup holders and air - conditioning system vents can be added to the edge of the front armrest. The provision of an automotive armrest allows the occupants of the car to rest their arms on it.
The armrest adds to the overall comfort of the car and makes the driving experience convenient for the driver. The armrest is located either at the front of the vehicle, the rear of the vehicle, or both. All luxury vehicles and some midrange cars have armrests. However, people who are interested in installing this feature can also purchase these parts through the after-market. The driver can keep items inside the front armrest, which also has a storage compartment. To further improve the comfort of those in the back, cup holders and air - conditioning system vents can be added to the back of the front armrest.
This rising demand for additional comfort features in 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 be attributed to the rising disposable income of people and an increase in spending power, which will fuel the market for automotive armrests during the forecasting period. However, declining vehicle sales in some countries will act as a restraint in the market’s growth. By position, vehicle type, sales channel, and geography, the automotive armrest market has been divided into subgroups. 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 models and also has an additional storage feature. By vehicle type, passenger car is expected to hold a considerable amount of market share, which is attributable to the rising disposable income of people coupled with increasing purchasing power.
Front and rear armrests are separate segments of the worldwide vehicle armrest market. Due to the prevalence of these types of armrests in mid-range vehicles sold by manufacturers, the front armrest is predicted to hold a sizable market share.
By Vehicle Type
The passenger car, light commercial, and large commercial vehicle segments make up the worldwide automotive armrest market. A passenger vehicle is expected to hold a significant share in the market owing to the increasing demand for passenger vehicles, which is a result of an increase in disposable income and rising urbanization.
By Sales Channel
Segmented as OEMs and aftermarket, the aftermarket is expected to hold a considerable market share as a majority of the users prefer to purchase armrests from aftermarket vendors due to their absence from most economy vehicles.
By geography, the global automotive armrest market is segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and South America. The Asia Pacific region is expected to hold a notable amount of market share in the market owing to the fact that countries like India and China are among the biggest producers of passenger vehicles.
- May 2022- Partnering on recycled materials for automobile interiors is Veolia and Faurecia. By using recycled plastics in instrument panels, door panels, and centre consoles across Europe, this partnership will lessen Faurecia's carbon impact, assist it in moving toward CO2 neutrality, and broaden Veolia's product line to include automotive interiors.
- September 2021- To end its joint venture with YFAS in China, among other things, Adient declared that it had completed the transactions envisioned by its previously disclosed contractual procedures with partnership Yanfeng Automotive Trim Systems Ltd. (YF).
- April 2021- A new series of high-performance polyphthalamide (PPA) compounds called Amodel Supreme PPA is offered by Solvay. It is intended for demanding e-mobility and metal substitution applications. Systems needing outstanding thermal, mechanical, and electrical qualities can perform better thanks to Amodel Supreme PPA. Applications include housings for excellent voltage connectors, power electronics, electric and electronic devices, and telecom equipment components that require exceptional heat resistance. High-temperature automobile components used in electric drive units, such as e-motors.
Impact of COVID-19 on Automotive Armrest Market
The worldwide economy of several nations, as well as the automobile armrest market, have both been impacted by the COVID-19 pandemic. Every sector has been impacted by the pandemic, which has disrupted the supply chain and led to changes in demand, trends, and financial conditions. Armrest production has been delayed due to a lack of raw materials, which has caused business closures. The lack of staff also affects the production line of the automotive armrest industry due to lockdowns and social distance rules. Manufacturers are required to schedule manufacturing in accordance with demand and OEM franchised service centres in order to minimize production delays.
Global Automotive Armrest Market Scope:
|Market Size Value in 2020||US$8.807 billion|
|Market Size Value in 2027||US$12.207 billion|
|Growth Rate||CAGR of 4.77% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Position, Vehicle Type, Sales Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Faurecia, Adient plc, Windsor Machine Group, GRAMMER AG, TACHI-S, Sydmeko Industri AB, BOS GmbH & Co. KG, WOOD COMPANY ITALY|
|Customization Scope||Free report customization with purchase|
- By Position
- By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- By Sales Channel
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What is the size of the global automotive armrest market?
A1. Automotive Armrest Market was valued at US$8.807 billion in the year 2020.
Q2. What will be the automotive armrest market size by 2027?
A2. The global automotive armrest market is projected to reach a market size of US$12.207 billion by 2027.
Q3. What are the growth prospects for the automotive armrest market?
A3. The automotive armrest market is projected to grow at a CAGR of 4.77% over the forecast period.
Q4. Which region holds the largest share in the automotive armrest market?
A4. The Asia Pacific is expected to hold a notable amount of share in the automotive armrest market owing to the fact that countries like India and China are among the biggest producers of passenger vehicles.
Q5. What factors are anticipated to drive the automotive armrest market growth?
A5. The rising demand for additional comfort features in vehicles will result in an increase in demand, resulting in the growth of the automotive armrest market.
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Market Segmentation
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
4.4. Industry Value Chain Analysis
5. Automotive Armrest Market Analysis, By Position
6. Automotive Armrest Market Analysis, By Vehicle Type
6.2. Passenger Vehicle
6.3. Light Commercial Vehicle
6.4. Heavy Commercial Vehicle
7. Automotive Armrest Market Analysis, By Sales Channel
8. Automotive Armrest Market Analysis, By Geography
8.1. North America
8.2. South America
8.3.3. United Kingdom
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.5. Asia Pacific
8.5.3. South Korea
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. Companies 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
Windsor Machine Group
Sydmeko Industri AB
BOS GmbH & Co. KG
WOOD COMPANY ITALY
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