Global Automotive Armrest Market - 2020-2027

Global Automotive Armrest Market - 2020-2027

Market Overview

Automotive armrests are provided in some mid-range cars and all luxury vehicles. The people interested in installing this feature can also purchase these parts through the aftermarket. Moreover, the front armrest also contains storage space and allows the driver to store belongings inside. In addition, the back of the front armrest, air conditioning vents, and cup holders can be provided to enhance passengers' comfort in the end. This growing demand for extra comfort features will boost the demand for the automotive armrest market in the forecast period. An increase in passenger vehicles' production due to increasing demand can be attributed to people's rising disposable income and growth in purchasing power, which will drive the automotive armrest market over the forecast period.

The global automotive armrest market is estimated to reach USD XX billion by 2027 from the recorded market size of worth USD XX billion in 2018, growing at a CAGR of XX% during the forecast period.

Market Dynamics

The growing adoption of automotive seating systems and the increasing demand for comfort will significantly impact passenger vehicles' linear growth. In addition, the rising demand for luxury vehicles, improving long-distance traveling driving automotive armrest demand, and OEMs focusing on enhanced vehicle interior solutions are expected to increase the growth of the market in the forecast period. The enhanced vehicle interior solutions include automotive seats, cockpit modules, door panels, and internal lighting systems designed to offer comfort to drivers and passengers.

Moreover, government regulations promote automotive seat manufacturers to design and develop vehicle seats and their components like armrests from advanced composite material. This leads the seat manufacturers to electronically controlled chairs wherein the vehicle can set the height and sliding armrest as per their convenience. In addition, some armrest has a feature directed by a seat heating control switch located on the cars' door panel. This heated armrest is based on a panel heating technology system integrated into floor console armrests in vehicles.

However, assembling vehicle-specific seating systems- a challenge for automotive seat manufacturers and complexities in retrofitting automotive armrests, which may hamper the automotive armrest industry's growth in the forecast period.

Segment Analysis

By position, the market is segmented into doors and seats. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The market is segmented into the wood, steel, aluminum, plastics, and others by the material.

The armrest is an integral part that provides function and takes care of passengers' and driver safety parameters and is expected to grow the market linearly with the rising demand for comfort for the driver and passengers. Moreover, the automobile door is one of the products that has its function like safety, strength, aesthetic parameters, and dynamics. In addition, the armrest has to absorb the dynamic force by deflecting proportionally to the side impact load and with characteristics like softness, smoothness, compressibility, texture, and others. The driver-side armrest is expected to boost the armrest market in the forecast period.

Geographical Analysis

Asia-Pacific dominates the automotive armrest market due to the automotive hub of manufacturing worldwide. The growing demand for automobiles increases new vehicle sales like passenger vehicles, and luxury vehicles are expected to drive the market for armrests. This region encompasses a diverse range of economic development; multiple industrial products and populations drive market growth. The shift of automotive manufacturers to this region is crucial to boost the market growth in this region. China is the leading producer and consumer of automotive armrests in the Asia-Pacific region. The key market players are developing their automotive armrest production in APAC, especially in China and India. With economic reduction and saturation in Europe and North America, armrest manufacturers shift their production base to APAC.

Competitive Landscape

The automotive armrest market is fragmented with the presence of regional and global players. The competitive outline lies with the increase in the regional company and growing investment in upstream application. Grammar, Adient, Ningbo Jifeng, Piston Group (Irvin), Toyota Boshoku, Kongsberg Automotive, Tachi-s, Siwode, Rati, Martur are the major player in the armrest market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the automotive armrest market globally.

Grammer AG

Grammer AG has developed multifunctional armrests and is the world’s first and only supplier of complete driver seat systems with integrated electronic control elements. It is mainly appropriate for offroad vehicles like forklifts, agriculture machines, and construction. This factor makes the companies different and is expected to boost the market in the forecast period. This multifunctional armrest features fingertip controls, switches, forward & reverse switch and emergency buttons and is fitted with all popular control software standards for operating vehicles. Customer-specific adaptations are also easy to implement, for example, a joystick via an electronic interface. Customers will enjoy the benefits of a full seat and control system from a single supplier that can provide both hardware and software solutions.