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The automotive glove box market is projected to grow by 25970.00 thousand units with a CAGR of 5.94%, during the forecast period 2020 to 2025.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by geography (APAC, Europe, North America, South America, and MEA) and vehicle type (passenger cars, LCVs, and HCVs).
The automotive glove box market report also offers information on several market vendors, including CIE Automotive SA, Dr. Schneider Holding GmbH, KBI Dongkook Ind. Co. Ltd., Moriroku Holdings Co. Ltd., Nihon Plast Co. Ltd, and Toyoda Gosei Co. Ltd. among others.
CIE Automotive SA - The company offers automotive glove box products such as Plastic Glove Compartment. The Mahindra CIE Europe segment focuses on the business for the manufacture of European forges, dependent on the Mahindra CIE group (dependent on the Group).
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Technavio categorizes the global automotive glove box as a part of the global auto parts and equipment market within the global auto components market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive glove box market during the forecast period.
The in-car personalization experience is notably driving the automotive glove box market growth, although factors such as a gradual increase in annual wages leading to declining in profit may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Automotive Glove Box Market Challenge
This automotive glove box market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Our In-house experts produce extensive information on the value chain and parent market of the automotive glove box market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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60% of the market’s growth will originate from APAC during the forecast period. Japan and India are the key markets for automotive glove boxes in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Since APAC accounts for the highest automobile production, the region dominates the global automotive glove box market. China, India, South Korea, Thailand, and Indonesia have abundant resources in the form of land, labour, and raw materials. Due to the availability of cheap resources and funding from other countries, these countries produce relatively cheaper goods. APAC was not affected significantly by the economic recession of 2008-2009, and there is an increase in the market share due to the acceptance of foreign investment schemes by the governments in this region. This will facilitate the automotive glove box market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the regional market witnessed a significant decline in revenue, owing to the outbreak of COVID-19. In addition, automotive sales dropped, which led to a decline in the demand for front-end modules. However, in Q4 2020, many countries in APAC lifted restrictions on various businesses. The vendors were then able to resume their routine operations by adhering to the COVID-19 guidelines. Vendors mandated social distancing norms and restricted the entry of non-essential visitors at their facilities. From Q4 2020 onward, the lockdowns have been lifted, and manufacturing facilities have been resumed owing to the increasing vaccination programs in the region. Thus, the regional automotive glove box market is expected to grow during the forecast period.
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The automotive glove box market share growth by the passenger cars segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive glove box market size and actionable market insights on the post-COVID-19 impact on each segment.
Automotive Glove Box Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.94% |
Market growth 2021-2025 |
25970.00 th units |
Market structure |
Concentrated |
YoY growth (%) |
5.89 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 60% |
Key countries |
China, US, Japan, Germany, and India |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
CIE Automotive SA, Dr. Schneider Holding GmbH, KBI Dongkook Ind. Co. Ltd., Moriroku Holdings Co. Ltd. , Nihon Plast Co. Ltd, and Toyoda Gosei Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Vehicle type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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