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. Automotive armrest is a feature that is provided in the vehicle on which the occupants can rest their arms. Armrest adds to the overall comfort of the car and makes 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, the 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, 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.
By Position
The global automotive armrest market has been segmented as front and rear. Front armrest is expected to hold a significant market share owing to the fact that these type of armrest are very common in the mid-range cars offered by many automobile manufacturers
By Vehicle Type
By vehicle type, the global automotive armrest market is segmented as passenger vehicle, light commercial vehicle and heavy commercial vehicle. Passenger vehicle is expected to hold a significant share in the market owing to increasing demand for a passenger vehicle, which is a result of an increase in disposable income and rising urbanization.
By Sales Channel
Segmented as OEMs and aftermarket, 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 of the economy vehicles.
By Geography
By geography, the global automotive armrest market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Asia Pacific is expected to hold a notable amount of share in the market owing to the fact that countries like India and China are among the biggest producers of passenger vehicles.
Segmentation
The global automotive armrest market has been segmented by position, vehicle type, sales channel, and geography.
Frequently Asked Questions (FAQs)
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