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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 includes 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 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.
Key Market Driver -
Increasing production and sales of vehicles coupled with the growing trend for car aesthetics is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Lack of interior space and unavailability of pre-installed armrests may hinder the growth of the market during the forecast period.
Globally, the automotive armrest market is segmented by application type, by sales channel type, and by geographic coverage. Based on application, the market is further segmented into passenger cars and commercial vehicles. The passenger car segment holds the major share in the global market and is expected to maintain its dominance over the forecast period. The increasing urbanization, improvement in the living standards as well as rise in the disposable income among individuals are boosting the production and sales of passenger cars across the globe. Also, the growing popularity interior designing and aesthetics in cars is boosting the passenger cars segment in the global market. The sales channel is further segmented into OEM and aftermarket. The OEM is expected to have a dominant market share owing to the rising production and sale of new vehicles. The automobile manufacturers prefer purchasing the armrest directly from the original equipment manufacturers which in turn is fuelling the growth of the market. However, aftermarket is second leading market for automotive armrest. The aftermarket for armrest is growing significantly owed to the non-availability of armrests in the mid-range and entry level cars as manufacturers do not provide armrests for these vehicle models. Thus, these factors are driving the aftermarket in order to set armrests in these cars.
Major players operating in the global automotive armrest market include Adient plc, Piston Group, Faurecia SA, TACHI-S Co. Ltd., GRAMMER AG, Ningbo Jifeng Auto Parts Co., Ltd, JR-Manufacturing, Inc., Toyota Boshoku, Sydmeko Industri AB, MARTUR, Tesca Technologies Private Limited, and Kongsberg Automotive ASA among others.
Geographically, the automotive armrest market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific accounts for the largest share in the global market and is expected to uphold its dominance over the forecast period owing to the rapid urbanization, rise in the purchasing power of people. This region is a hub for the global automotive manufacturing industry. The increase in the demand for automobiles is increasing the sales of new cars, thereby driving the armrest market. Moreover, the presence of strong economies including China, India, japan, and South Korea coupled with the expansion of the e-commerce industry as well as well-established supply chain network catering to automobile productions, shipbuilding industry, are the major factors that are increasing the demand for transportation thus driving the automotive armrest market in this region. North America and Europe are the next leading regions in the global market owing to the presence of prominent automotive players and a well-established market for vehicles.
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