Automotive Glove Box Market to Witness Steady Expansion During 2017 - 2025
By geography the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is a major automotive glove box market with the U.S. being the largest market in the region. The U.S is the second largest automotive manufacturer in the world. Canada and Mexico are other significant markets in this region. Recently KSTN Plastic Solutions, Germany (part of Ashok Minda Group) has opened a new manufacturing facility in Mexico to manufacture glove box and other automotive components for Volkswagen and other automotive OEMs. This is anticipated to increase the market size of glove box in Mexico and North America. Europe is another major automotive glove box market in the world with Germany being the largest market in this region. Germany is the largest automotive market in Europe. The U.K, France, Italy, Spain, Belgium and Netherlands are other major markets in this region. Asia Pacific is a dominant automotive glove box market in the world with China being the largest market in this region. China is the largest automotive market in the world. Japan, South Korea, India and Australia are other significant markets in this region. Middle East & Africa and Latin America are other major automotive glove box markets. Turkey, Iran, South Africa, Brazil and Argentina are prominent markets in the above regions.
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Rising demand of vehicles across the world is anticipated to increase the demand for automotive glove box market. A major short term restraint faced by automotive OEMs is decreasing production of glove box. Automotive component supplier Recital’s production of glove box was hampered due to fire. This forced OEMs such as Volkswagen to stop their production for limited number of days and store their Passat cars until enough glove boxes were available. A major opportunity in automotive glove box market is increasing the use of polycarbonate and other polymer and plastic material in glove box production. Fuel efficiency is inversely proportional to the weight of vehicle. If polycarbonates are used to produce automotive glove box and other interior vehicle components it will reduce vehicle weight and increase fuel efficiency and reduce vehicle emission. There is an increasing acceptance of hybrid and electric vehicles across the world. Major automotive manufacturers are producing electric vehicles which is anticipated to increase the demand for automotive glove box market.
The report highlights the various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by segment and geography, strategic overview, SWOT analysis and historical revenue. The report also contains details of market share analysis of key players in the market. Major firms operating in the automotive glove box market are Magna International Inc. (Canada), IAC Group (Luxembourg), Visteon Corporation (the U.S), ITW (the U.S), Moriroku Holdings Company (Japan), Yanfeng Automotive Interiors (China), Faurecia (the U.S), Trinseo S.A (the U.S), Hyundai Mobis (South Korea), Minda KTSN Plastic Solutions GmbH & Co.KG (Germany) and Recticel (Belgium)
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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