Automotive Armrest Market by Application and Geography - Global Forecast and Analysis 2019-2023

The global automotive armrest market size will grow by USD 371.53 million during 2019-2023. This market report provides a detailed analysis of the market by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Adient Plc, Faurecia SA, GRAMMER AG, Piston Group, and TACHI-S Co. Ltd.

Key Insights on Automotive Armrest Market - Global Forecast 2019-2023

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Industry Overview

The development of heated armrest for luxury vehicles has been identified as one of the critical automotive armrest market trends. Several leading luxury vehicle manufacturers are focusing on incorporating technologically advanced automotive armrests, including heated armrests in their vehicles. The heating technology system used in heated armrest are highly energy-efficient. As the heat produced through heated armrest reaches the passenger directly and quickly, it minimizes the need for HVAC systems, thereby reducing the fuel usage. Moreover, heated armrests can act as an ideal heating source in electric vehicles as it is electrically powered and can be electrically controlled. The flexibility offered in terms of heating levels will further boost the adoption of heated armrests in luxury vehicles. The development of heated armrests for luxury vehicles will have a positive impact on the automotive armrest market during the next five years.

According to the automotive armrest market forecast report, the increasing focus on vehicle interior solutions by OEMs will also contribute to market growth. OEMs are increasingly focusing on enhancing automotive interiors to differentiate their products and increase their market share in the highly competitive automotive market. Automotive seat manufacturers are also designing and developing vehicle seats and armrests with advanced composite materials to comply with the stringent government regulations related to vehicle safety and lightweighting. Moreover, seat manufacturers are incorporating advanced technologies in their products to enhance the convenience and comfort of passengers. For instance, active wellness seats offered by Faurecia have comfort features, such as armrests and uses sensors to monitor the driver’s heart rate, stress level, and respiration. The incorporation of such enhanced vehicle interior solutions by OEMs is expected to fuel the growth of the automotive armrest market at a CAGR of over 5% during the forecast period.

Top Companies in Automotive Armrest Market

The global market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this automotive armrest market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

The report offers a detailed analysis of several leading automotive armrest manufacturers, including:

• Adient Plc
• Faurecia SA
• GRAMMER AG
• Piston Group
• TACHI-S Co. Ltd.

Market Segmentation

Automotive Armrest Market by Application

• Passenger vehicles
• Commercial vehicles

The passenger vehicles segment will account for the highest automotive armrest market share. The increasing adoption of advanced automotive seating systems and the growing demand for comfort and convenience by passenger vehicle users will boost the demand for armrests in passenger vehicles. This market research report provides an accurate prediction of the contribution of all the segments to the growth of the automotive armrest market size.

Automotive Armrest Market by Region

• APAC
• Europe
• MEA
• North America
• South America

With a complete study of the growth opportunities for companies, it has been identified that the APAC region will account for the highest share of the automotive armrest market throughout the forecast period. Factors such as improving socio-economic conditions, growing demand for passenger comfort, and stringent government regulations on vehicle safety will contribute to the automotive armrest market growth in this region.

Major Highlights of the Automotive Armrest Market - Global Forecast 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the automotive armrest market during the next five years
• Precise estimation of the global automotive armrest market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive armrest industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of automotive armrest companies

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