Global Automotive Armrest Market Size study & Forecast, by Application Type (Passenger Cars, Commercial Vehicles), By Sales Channel Type (OEM, Aftermarket) and Regional Analysis, 2023-2030

Global Automotive Armrest Market Size study & Forecast, by Application Type (Passenger Cars, Commercial Vehicles), By Sales Channel Type (OEM, Aftermarket) and Regional Analysis, 2023-2030

Global Automotive Armrest Market is valued at approximately USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xxx% over the forecast period 2023-2030. The automotive armrest is a feature seen in many modern vehicles that allow passengers to rest their arms. The armrest is frequently used to hold important items and make them easily accessible while driving. The driver frequently makes use of the front armrest, which folds away according to the user's option and has storage compartments and even cup holders. The Automotive Armrest market is expanding because of factors such as increasing production and sale of new vehicles and growing number of passenger cars. Furthermore, the armrest on the rear seats is foldable and may be utilized as a third-person seat or a handrest. This feature is offered in high-end vehicles. In some designs where occupant safety is prioritized, such as Volvo vehicles, the armrest doubles as a kid seat with a fully adjustable seatbelt.

According to Statista, in 2021 global car sales increased to roughly 67.2 million vehicles in 2022, up from around 66.7 million units. Furthermore, in terms of car production, India was one of the world's leaders. In the fiscal year 2022, India's overall automobile production volume was roughly 22.9 million units, an increase from the previous year. Another important component driving space increase is the number of passenger cars. As per Statista, in 2022, 57.5 million passenger cars were sold globally, up by about 1.9% year-on-year. At nearly 23.6 million units, China was the world's largest regional market for automobiles. In addition, China has the world's largest automobile market, with around 23.56 million passenger cars purchased in 2022. Also, rise in disposable income and increasing urbanization would create a lucrative growth prospectus for the market over the forecast period. However, high development costs of Automotive Armrest and lack of interior space stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Armrest Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rapid urbanization, increasing purchasing power in the region. North America is expected to grow significantly during the forecast period, owing to the presence of prominent automotive players and rising demand of luxury vehicles in the region.

Major market players included in this report are:
Grammer AG
Adient plc
Ningbo Jifeng Auto Parts Co., ltd.
Piston Group
Toyota Boshoku Corporation
TACHI-S CO., LTD.
Fehrer Group
Sydmeko Industri AB
Rati Kft
Martur Fompak International
Recent Developments in the Market:
 In May 2023, Grammer AG has signed a supply agreement with BMW for the 7 series rear seat centre armrest. Integrated heating and 3D moulded genuine glass applications are among the features. Perforated leather or cashmere are used as trims. A slide-out drawer with a cup holder and a wireless charging pad is also included. A lighted compartment provides additional storage space, and a USB connector is also included.


Global Automotive Armrest Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Application Type, Sales Channel Type, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application Type
Passenger Cars
Commercial Vehicles

By Sales Channel Type
OEM
Aftermarket

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
Grammer AG
Adient plc
Ningbo Jifeng Auto Parts Co., ltd.
Piston Group
Toyota Boshoku Corporation
TACHI-S CO., LTD.
Fehrer Group
Sydmeko Industri AB
Rati Kft
Martur Fompak International

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.