Global Automotive Headrest Market Is Valued At 4325.42 Million US$ In 2018 And Will Reach 4343.83 Million US$ By The End Of 2025
Friday, 15 Nov, 2019
Asia region, especially China is estimated to account for the largest share, in terms of production, of the global automotive headrest market in 2018. The region comprises some of the fastest developing economies in the world, including China, India, Japan and Korea. This has led to an increase in vehicle production volumes over the years, with OEMs catering not only to the domestic demand but to overseas demand as well.
The global automotive headrest market is expected to reach USD 4343.83 million by 2025, growing at a CAGR of more than 0.82% from 4325.42 million in 2018.; the actual global sales is about 441.81 million Units in 2018
Passenger cars are expected to constitute the largest share in the global automotive exterior trim market. This can be attributed to the growing need of personal cars and private cab’s in the emerging economies. It has triggered the demand for automotive headrest, from passenger car manufacturer side.
In 2018, worldwide sales of passenger cars and light commercial vehicles decreased for the first time since 2009, as carmakers sold 1% fewer vehicles, but beyond 2018 there are still reasons to be optimistic the market will surpass 100 mn units/year early next decade. China’s market potential remains large, and while economic growth continues to slow, this continues at fairly enviable levels by most standards. And with clarity from the government regarding tax cuts and the new emission legislation, the hold-off on purchasing should also unwind. Elsewhere, the other BRICs markets are either on the path to recovery (Brazil, Russia) or on course for new highs (India).
The automotive headrest market is relative concentrated market; key players includes Adient, LEAR Corporation, Grammer, Faurecia, Toyota Boshoku, Windsor Machine Group, Tachi-s, Tesca, JR-Manufacturing, Ningbo Jifeng and Proseat, the revenue of top ten manufacturers accounts about 82% of the total revenue in 2018. The high-end products mainly come from Europe and North America.