Globalization has transformed the automotive industry throughout the globe, with continuously heaving competition amongst automotive vendors. Development of automotive cup holder is one of the important innovations because of the growing consumption of beverages while driving which have ensued in the automotive industry, in recent years.
Various automotive cup holder designers have provided technologies and styles to hold the beverages, but at high speeds and tough roads, it is difficult to keep the beverages from spilling out. One of the latest technologies used by Maksimatic in the automotive cup holder market was to provide a 360-degree spinning cup holders which can adjust according to the road settings.
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Accessories in automobiles are essential nowadays. It is important for designers to put their efforts on the interiors of the automobiles, as the consumers have started spending their money for comfort and efficiency. Automotive cup holder market has started gaining popularity because of the growing consumers, and their need of holding their beverages in the vehicles. Automotive cup holder seems like a simple accessory in the automobiles, but the technology and the ideas used for providing a spill free cup holder is difficult.
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The automotive cup holder market is driven by the looks and the comfort it provides to the consumers. Customers are looking for innovative designs and colors with the technologies incorporated to make automotive cup holder. Automobiles have started providing various automotive cup holders which have gained customers interest in buying those vehicles.
There are few big companies which still believe that automotive cup holder should not be incorporated in the automobiles as the drivers may lose their control and accidents may happen. One such company is Ferrari which believes that they provide such high speeds to the customers in which the driver’s concentration should be on the wheels, and there is no need of adding cup holders in their vehicles, which is a challenge faced by manufacturers in the automotive cup holder market.
Growing urbanization and changing lifestyle has changed the trend and people prefer automotive cup holder in their vehicles.
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The automotive cup holder market is segmented on the basis of the orientation of cup holders, type of the technology used, type of vehicle, and region.
On the basis of the orientation of cup holders, the automotive cup holder market is segmented into flexible, and fixed cup holders.
On the basis of the type of technology used, the automotive cup holder market is segmented into Total Internal Reflection technology, 360-degree spin technology, and controlled temperature technology.
On the basis of type of vehicle, the automotive cup holder market is segmented into commercial vehicles, and passenger cars. Commercial vehicles are further segmented into Medium Commercial Vehicle (MCV), Light Commercial Vehicle (LCV), and High Commercial Vehicle (HCV). Similarly, passenger cars are further categorized into large cars, mid-size cars, and compact cars.
On the basis of geographies, the automotive cup holder market is segmented is segmented across 7 key region; North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. This market is driven by North America and Europe because of their lifestyles and interests.
Market: Key Players
Few of the major key players active in the automotive cup holder market includes Bestek, Custom Accessories, Pioneer Corporation, Lloyd mats, Covercraft Industries, JVISUSA LLC, Maksimatic, Bell Automotive products, Bracketron, Dorman, and Proline.
Overall it can be concluded that the growth prospects of the automotive cup holder market are promising, as adoption across most of the regional markets is set to increase in the foreseeable future, with substantial projected gains in some areas.
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