GITNUX MARKETDATA REPORT 2024

Automotive Glove Box Industry Statistics

The automotive glove box industry is expected to continue steady growth in the coming years fueled by increasing vehicle production and demand for advanced storage solutions.

With sources from: alliedmarketresearch.com, digitaljournal.com, futuremarketinsights.com, verifiedmarketresearch.com and many more

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The global automotive glove box market size was valued at $1.21 billion in 2019.

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The automative glove box industry is predicted to reach $1.95 billion by 2025.

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The compound annual growth rate (CAGR) of the automotive glove box market is projected to be 3.2% from 2020 to 2025.

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The Asia-Pacific region leads the automotive glove box market with a market share of more than 49% in 2019.

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The type segment of automotive glove boxes is divided into common box and multifunction box.

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The multifunction box segment of the automotive glove box market is predicted to expand at the fastest rate during the forecast period.

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Passenger vehicles hold the highest market share in the automotive glove box market.

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The OEMs segment in the automotive glove box market dominated over 75% of the global market share in 2019.

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Major players in the industry include Visteon Corporation, IAC Group, Magna International, Yanfeng Automotive Interiors, and Faurecia SA.

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Europe is predicted to grow significantly in the automotive glove box market due to the presence of notable automakers in the region.

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In 2020, IAC Group had a volume of 13 million glove boxes produced.

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The market size of the automotive glove box industry in North America was valued at USD 330 million in 2019.

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North America automotive glove box market is expected to reach around USD 480 million by 2026.

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The commercial vehicle segment of the automotive glove box market is expected to grow at a CAGR of 4.9% from 2020 to 2026.

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The plastic materials are majorly used in the production of automotive glove boxes.

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The growth in automotive production worldwide is expected to drive the automotive glove box market.

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The adoption of luxury vehicles in emerging economies is considered one of the major factors boosting the global automotive glove box market.

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The Chinese automotive glove box market size was valued around USD 250 million in 2019 and is expected to grow at a steady rate until 2026.

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The most lucrative region for the growth of the automotive glove box industry is Asia pacific, with growth mainly driven by countries like India, China, and Japan.

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In this post, we will explore key statistics and insights in the global automotive glove box industry. From market size projections to regional trends and major players, we’ll provide a comprehensive overview of the current landscape and future outlook of this dynamic sector.

Statistic 1

"The global automotive glove box market size was valued at $1.21 billion in 2019."

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Statistic 2

"The automative glove box industry is predicted to reach $1.95 billion by 2025."

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Statistic 3

"The compound annual growth rate (CAGR) of the automotive glove box market is projected to be 3.2% from 2020 to 2025."

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Statistic 4

"The Asia-Pacific region leads the automotive glove box market with a market share of more than 49% in 2019."

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Statistic 5

"The type segment of automotive glove boxes is divided into common box and multifunction box."

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Statistic 6

"The multifunction box segment of the automotive glove box market is predicted to expand at the fastest rate during the forecast period."

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Statistic 7

"Passenger vehicles hold the highest market share in the automotive glove box market."

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Statistic 8

"The OEMs segment in the automotive glove box market dominated over 75% of the global market share in 2019."

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Statistic 9

"Major players in the industry include Visteon Corporation, IAC Group, Magna International, Yanfeng Automotive Interiors, and Faurecia SA."

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Statistic 10

"Europe is predicted to grow significantly in the automotive glove box market due to the presence of notable automakers in the region."

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Statistic 11

"In 2020, IAC Group had a volume of 13 million glove boxes produced."

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Statistic 12

"The market size of the automotive glove box industry in North America was valued at USD 330 million in 2019."

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Statistic 13

"North America automotive glove box market is expected to reach around USD 480 million by 2026."

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Statistic 14

"The commercial vehicle segment of the automotive glove box market is expected to grow at a CAGR of 4.9% from 2020 to 2026."

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Statistic 15

"The plastic materials are majorly used in the production of automotive glove boxes."

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Statistic 16

"The growth in automotive production worldwide is expected to drive the automotive glove box market."

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Statistic 17

"The adoption of luxury vehicles in emerging economies is considered one of the major factors boosting the global automotive glove box market."

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Statistic 18

"The Chinese automotive glove box market size was valued around USD 250 million in 2019 and is expected to grow at a steady rate until 2026."

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Statistic 19

"The most lucrative region for the growth of the automotive glove box industry is Asia pacific, with growth mainly driven by countries like India, China, and Japan."

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Interpretation

In conclusion, the global automotive glove box market is expected to experience steady growth in the coming years, with a projected market value of $1.95 billion by 2025 and a compound annual growth rate of 3.2%. The Asia-Pacific region leads the market, with significant opportunities for expansion, particularly in the multifunction box segment. Passenger vehicles and OEMs are key players in this market, with notable companies such as Visteon Corporation and IAC Group leading the industry. The use of plastic materials and the increasing adoption of luxury vehicles in emerging economies are driving factors for market growth, with regions like Europe and North America also poised for substantial growth. The automotive glove box industry is a dynamic and lucrative sector, with vast potential for further development and innovation.

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