The global automotive cups and glass holder market is estimated to surpass a valuation of US$ 25 Bn by the end of 2032. The sales of automotive cups and glass holders are expected to total US$ 12 Bn by 2022, accelerating at a CAGR of 9% to 10% during the forecast period 2022-2032. Rising emphasis of automotive manufacturers on providing high comfort and convenience accessories during the travel is projected to augment the demand for automotive cups and glass holders in the global market.
| Report Attribute | Details |
| Automotive Cups and Glass Holder Market Base Year Value (2021) | US$ 11.3 Billion |
| Automotive Cups and Glass Holder Market Expected Value (2022) | US$ 12 Billion |
| Automotive Cups and Glass Holder Market Anticipated Value (2032) | US$ 25 Billion |
| Automotive Cups and Glass Holder Market Projected Growth Rate (2022-2032) | 9% to 10% CAGR |
Automotive cups and glass holder assistive automotive accessories designed to keeps, bottles, cups, glasses, and other regular size beverages inside the vehicles. Development and introduction of cup and glass holders in automotive vehicles are one of the highly essential innovations in the automotive sector.
Rising consumption of beverages during the vehicle is the factor that has compelled the automotive manufacturers to develop automotive cups and glass holders at required locations within the vehicle such as dashboard, door trim, armrest, and others. These accessories seem like simple components in the vehicle, however, increasing technological development has resulted in the introduction of advanced spill-free cups and glass holders, resulting in bolster the growth in the global market.
Over the last few years, the automotive industry has witnessed significant transformation across the world on the back of technological advancement and globalization. Furthermore, a significant rise in production and sales of automotive vehicles is being registered worldwide, owing to the increasing disposable income and growing customer preference towards traveling with comfort across prominent economies.
For instance, according to a study by the Bureau of Transportation Statistics, more than 2.51 Million passenger cars were manufactured and over 3.54 Million cars were reported to be sold across the U.S. in the year 2019. Automotive cups and glass holders are increasingly deployed in modern vehicles to provide better customer convenience and space to store water bottles and others beverages.
Hence, this rise in sales of automobiles such as passenger cars, sport utility vehicles (SUV), compact cars, and others is projected to create strong demand for automotive components including automotive cups and glass holders in the global market.
In addition to this, leading players in the market are increasingly focusing on launching novel cups and glass holders for automotive vehicles with innovative technologies such as 360-degree spin technology, controlled temperature technology, and others. This is estimated to further favor the growth in the global market.
Despite several advantages associated with the automotive cups and glass holders, increasing instances of car accidents due to beverage spillage and declination by some of the automakers to deploy these accessories as they may disturb the driver’s attention is hindering the sales in the market.
Besides this, rising product innovation is alleviating the production cost of automotive cups and glass holders, which is in turn, creating constraints for the growth in the global market.
As per Future Market Insights, Asia Pacific excluding Japan is forecast to exhibit robust growth in the global automotive cups and glass holder market between 2022 and 2032.
With rapidly expanding automotive aftermarket and increasing consumer spending on the incorporation of innovative accessories to enhance the comfort of the vehicle, leading players in the market are emphasizing on launching novel products with advanced technologies.
For instance, in 2020, HYXT, a Chinese automotive accessory manufacturer announced launching new 3 layers five in one cup holders for automotive vehicles with 360-degree rotatable technology. A multiplicity of such new product launches are projected to spur the sales of automotive cups and glass holders in the Asia Pacific excluding Japan market.
FMI reveals that Western Europe is estimated to account for a significant share in the global automotive cups and glass holder market over the forecast period 2022-2032.
Automotive manufacturers are increasingly focusing on incorporating advanced technologies and accessories due to the intense competition across the industry. Thus, key industry players are aiming at launching novel automobiles with innovative features to gain a competitive edge.
For instance, in 2021, BMW, a German luxury car manufacturer announced unveiling its new BMW X5 with innovative interior features such as heated and cooled cupholders, temperature-controlled steering wheel, MW extended lighting, and others. Increasing incorporation of such innovative accessories in novel cars is projected to bolster the demand for automotive cups and glass holders in the Western Europe market.
Some of the leading players in the automotive cups and glass holder market are Pioneer Corporation, Bestek, GenuineXL, APA/URO Parts, AutoTrust Gold, JVISUSA LLC, Maksimatic, Proline, Covercraft Industries, Bracketron, Smittybilt, Bestek, Bell Automotive Products and others.
The market is highly competitive, due to large number of participants and increasing emphasis in the development and introduction of innovative product by leading players.
| Report Attribute | Details |
| Growth Rate | CAGR of 9% to 10% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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FMI projects the demand for automotive cups and glass holder in the market is expected to rise at 9% to 10% value CAGR by 2032
The global automotive cups and glass holder market is anticipated to be dominated by Asia Pacific excluding Japan over the forecast period 2022-2032.
Pioneer Corporation, Bestek, GenuineXL, APA/URO Parts, AutoTrust Gold, JVISUSA LLC, Maksimatic, Proline, Covercraft Industries, Bracketron, Smittybilt, Bestek, Bell Automotive Products, and others some of the leading players in the prominent automotive cups and glass holder market.
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Automotive Cups and Glass Holder Market
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