Automotive Armrest Market to Grow rapidly During the Forecast Period 2022-2028
Global Automotive Armrest Market was valued at USD 1.99 billion in 2021 and is expected to reach USD 2.07 billion by the year 2028, at a CAGR of 0.59%.
An automotive armrest is a feature in vehicles where the occupants can rest their hands. The armrest is also used to keep essential things in them so as to easily access it while driving. The armrest features include a cup stand, storage and also comprises of some controlling functions of the vehicle. The armrests on the rear seats are foldable and can be used as a seat for a third person or as a hand rest. This feature is provided in some mid-range cars and all luxury vehicles. Almost every car comprises of an armrest on the door which can be used to rest your hands or hold the door when you open the door. Armrests are adjustable and fully foldable which provide comfort while driving regardless of the position of the seat or the height of the occupant.
Besides, armrest with features such as such as wireless charging, portability and soft materials such as leather, fabric, or vinyl enhances the aesthetics which are gaining more popularity among the consumers. The rising production and sales of vehicles are thus increasing the demand for armrest in the global market. Moreover, the increasing focus on the aesthetics of the cars and growing car rental market is expected to boost the growth of the automotive armrest market during the forecast period.
Top Impacting Factors
· Increase in the production & sales of vehicles, rise in the demand for rental cars, demand for aftermarket, and surge in inclination for car aesthetics drive the automotive armrest market.
· However, unavailability of pre-installed armrest, and lack of interior space hinder the growth of the automotive armrest market.
· On the contrary, improvement in the quality & comfort, and rise in E-commerce preference for armrest market provide growth opportunities for the automotive armrest market.
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Automotive Armrest Market - Size, Competitive Landscape and Segmentation Analysis:
Automotive Armrest Market Reports provide a high-level overview of market segments by product type, applications, leading key players, and regions, as well as market statistics. The research insights focus on the impact of the Covid-19 epidemic on performance and offers a thorough examination of the current market and market dynamics. This crucial understanding of the report's objective can help you make better strategic decisions about investment markets by assessing elements that may affect current and future market circumstances. The leading key players in the Global and Regional market are summarized in a research to understand their future strategies for growth in the market.
The key players covered in the Automotive Armrest market report is:
· Grammer
· EFH Armrests
· Fehrer
· ABC Group
· BOS
· Master Molded Products Corporation
· Irvin Automotive Products
· Accuride
· Bentex Automotive
· Yangfeng Johnson Controls
· Intap
· Proseat
· Noco AB
Segmentation of Automotive Armrest market:
In market segmentation by Type, Automotive Armrest Market report covers:
· Passenger Vehicles
· Commercial Vehicles
In market segmentation by Material, Automotive Armrest Market report covers:
· Wood
· Plastic
· Steel
· Aluminium
Market Segment by Regions and Countries Level Analysis:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
· Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of South America)
Covid-19 Impact and Recovery Analysis on Industry:
We've kept track of Covid-19's direct impact on this market as well as its indirect impact on other industries. During the analysis period, the impact of the Covid-19 pandemic on the market is predicted to be significant. From a worldwide and regional viewpoint, this report examines the influence of the pandemic on the Automotive Armrest industry. The study categories the Automotive Armrest industry by type, application, and consumer sector to determine market size, market features, and market growth. It also includes a thorough examination of the factors that influenced market development before and after the Covid-19 pandemic. In addition, the research did a pest analysis in the sector to investigate major influencers and entrance obstacles.
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Automotive Armrest Market Report contains market data from 2022 to 2028, which provides an overview of the market covering key drivers and risk factors. The report is segmented by top global manufacturers that mention sales, revenue and applicable prices. It also evaluates the competitive scenarios of key players. The report is expanded to include regional market data along with types and applications. This report forecasts sales and revenue from 2022to 2028. Detailed sales channels are also covered in the study.
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