Global Automotive Cup Holder Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 3.2% during the forecast period.

The Global Automotive Cup Holder market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Automotive Cup Holder report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Automotive Cup Holder Market

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Global Automotive Cup Holder Market Overview:

Automotive cup holders are part of automotive internal designing. Increasing competition among the emerging automotive manufacturers across the globe and increasing innovations in the automotive luxury equipment are the factors considered to drive the automotive cup holder market growth. Being a simple automotive part one might think of it as a very simple and easy to operate product but it is comparatively hard and a mechanically time-consuming process that requires lots of skills and knowledge of automotive vehicle interior systems.

Furthermore, the development of various technologies for cup holders by emerging key players in the market to provide comfort to their customers has led to product integration of the cup holders. To impose a spill-free system in the vehicle especially while driving on rough roads and terrains is the main focusing factor for automotive cup holder manufacturers across the globe. For that purpose, technologies including 360 degrees spinning cup holders and free moving cup holders are established in the market.
Global Automotive Cup Holder Market Dynamics:

Increasing demand for a luxury vehicle and increasing trend of consuming beverages in the vehicle on the go is the key factors considered driving the automotive cup holder market growth. Moreover, owing to growing consumer preferences while buying the cars on the basis of looks, the technology used in vehicles, accessories offered and interior and not only on fuel economy and engine specs is the key supporting factor driving the automotive cup holder market growth.

High cost of automotive cup holders and increasing maintenance factor of the product are the factors restraining the market growth. Moreover, cup-holders using the HVAC system of cars to keep the beverage cool for a long period of time are the factors expected to create new opportunities in the market during the forecast period. Refusal of some automotive manufacturers to install the cup holders in the vehicle owing to safety concern of drivers is the key challenging factor for the manufacturers in the market.
Automotive cup holder market segmentation:

On the basis of orientation type, market is segregated into the fixed and flexible type of orientation. Fixed type of orientation was accounted for approximately 130 million USD in the year 2018 owing to the surge in the luxury car market and increasing disposable income of consumers in mainly North America and European regions. But, growing demand for cup holders withstanding on different forms of road has increased the demand for a flexible type of cup holders and is expected to become the fastest-growing segment in the market during the forecast period. The flexible cup holders segment is expected to register a CAGR of approximately 4% during the forecast period.

On the basis of technology used, the market is segmented into controlled temperature technology, internal reflection technology, and 360-degree spin technology. 360-degree cup holders are the dominating segment in the market with approximately 56% of market share owing to increasing demand for spill-free cup holders technology and increasing demand for co fort while driving. According to Maksimatic Corporation, 360 degrees holder was accounted for approximately 200 million USD in the year 2019 owing to its increasing popularity in luxury car owners. Controlled temperature technology is the second dominating and fastest-growing segment in the market with approximately 30% market share owing to increasing demand for maintaining the required temperature of the beverages.

Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. Passenger vehicles are the dominating segment in the market with approximately 42% market share owing to growing inclination of manufacturers towards consumer’s comfort and growing demand for aesthetic appeal created by cup holders.
Impact of Covid pandemic on the Automotive Cup Holder market:

COVID pandemic is expected to pose a low to moderate impact on the Automotive Cup Holder market owing to the effects of a pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of automotive cup holder. The market is expected to expand during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed.

According to Western Star Trucks, Automotive Cup Holder market was valued at approximately 3 billion USD in year 2019 and expected to register CAGR of approximately 6% during the forecast period owing to increasing demand for high power steering system with high dependability.

Global Automotive Cup Holder Market
Increasing no. of luxury cars is driving the automotive cup holder market growth:

Growing buying power and increasing disposable income of the consumers across the globe are the factors boosting the luxury cars manufacturing and sales across the globe and thereby increasing the automotive cup holder market as a part of aesthetic designing of the vehicle according to consumer preference. According to Bloomberg, the growth rate of millionaires across the emerging economies are 1.5 million per financial year which is approximately 2.6% more growth anticipated during the forecast period.

The growing rate of millionaires concerns to the demand for well -designed and furbished cars with next level technological aspects and interior looks for their satisfaction and improvement in their social status quo.
Global Automotive Cup Holder Market Regional Insights:

Europe is the dominating as well as the fastest-growing region in the market with 40% of total revenue share in the Automotive Cup Holder market registering approximately 4.9% CAGR in the year 2019. Factors attributing to market growth in the region are increasing demand for luxury cars and presence of leading luxury car manufacturers in the region. Majority of these luxury car manufacturers incorporate the use of automotive cup holders for giving that lavish look to their vehicles.

The Asia Pacific is the second dominating region in the Automotive Cup Holder market with approximately 23% market share. Factors attributing growth in the market are increasing disposable income of consumers and increasing focus of key players on automation and increasing investments in research and development in the region for high product integration. China and India hold the largest market share of approximately 48% and 39% respectively owing to the faster pace of production in these economies.

Global Automotive Cup Holder Market

The objective of the report is to present a comprehensive analysis of the Global Automotive Cup Holder Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Automotive Cup Holder Market dynamics, structure by analyzing the market segments and project the Global Automotive Cup Holder Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Automotive Cup Holder Market make the report investor’s guide
Global Automotive Cup Holder Market Scope: Inquire before buying

Global Automotive Cup Holder Market
Global Automotive Cup Holder Market, by Region

• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of ME&A
• South America
o Brazil
o Argentina
o Rest of South America
Global Automotive Cup Holder Market Key Players

• Covercraft Industries
• Bell Automotive Products
• Makismatic
• Bestek
• Pioneer Corporation
• Dorman
• Bracketron
• L Jvisusa LLC
• Custom Accessories
• Lioyd Mats
• Proline
• Nifco Kumamoto
• Guangzhou Chengnz Industrial Co. Ltd.
• Dongguan Siteng Electronics Co. Ltd.

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