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Automotive Headrest Market Is Estimated To Reach $5,245.8 Million By 2025
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Global Automotive Headrest Market Report, published by Accurize Market Research, forecast that the global market is expected to reach $5,245.8 Million by 2025, growing at a CAGR of 5.7% from 2019 to 2025. In terms of volume, the market was valued at 234.8 Million Units in 2018 and is expected to reach 356.4 Million Units by 2025. North America accounted for the major market share of 31% in 2018 and expected to dominate throughout 2025.
Market Introduction and Market Dynamics
Automotive headrest refers to a device designed to limit the rearward displacement of a person’s head to feel relaxed and comfortable during the journey. High growth in the automotive industry has increased the adoption of the advanced adjustable and flexible headrest. The demand for adjustable headrest is majorly seen in passenger vehicles. The increase in vehicle production globally has also supported the market growth. Still, lack of awareness among heavy commercial vehicle consumers may limit the market growth in the coming years.
Furthermore, growing technological advancement and improved product quality are expected to open attractive business opportunities for the market in the future years. Additionally, the untapped market in emerging economies and growing consumer awareness in the developing economies would provide several growth opportunities in forecasted years.
Market Segmentation and Crisp Analysis
The global automotive headrest market has been segmented by headrest type, vehicle type, and distribution channel. By type, the market is further bifurcated into the integral headrest and adjustable headrest. By vehicle type, the segments covered are passenger vehicles and commercial vehicles. By distribution channel, the market is segmented as direct sales and distribution. The different segment market size covers both volume and value.
In the type segment, integral headrest generated the maximum revenue in 2018, owing to its increased demand in commercial vehicles. However, the adjustable segment is projected to attain the fastest CAGR during the forecast period. The passenger vehicle segment dominated the vehicle type segment accounting for more than 50% of the global revenue. By distribution channel, distribution sales hold the major market share with around 55% in 2018.
Regional Segmentation and Crisp Analysis
The global automotive headrest market has been segmented by geography into North America, Europe, Asia-Pacific and Rest of the World. The U.S. and Rest of North America are covered under North America wherein Europe covers the UK, Germany, France, Russia, and the Rest of Europe. The countries covered under Asia-Pacific are China, Japan, India, Korea, and Rest of Asia-Pacific. The rest of the world covers central & south America, the Middle East, and Africa.
Among various geographical regions, North America dominated the global automotive headrest market accounting for the largest market share of around 31% in 2018, and projected to continue its dominance during the forecast period 2019 – 2025. The increased demand for adjustable headrest into luxury vehicles in countries such as the U.S. is fueling the market for headrest in North America. Asia-Pacific generated the second-highest revenue share, driven by technological advancement and growing adoption in commercial and passenger vehicles in countries such as China and India. The region accounted for around one-third of the global market revenue in the year 2018. In terms of growth, the Rest of the World is expected to attain the fastest CAGR of more than 6% during the forecast period 2019-2026.
Manufacturers Competitive Analysis
The automotive headrest market is moderately competitive as the market consists of several dominant players who are using economies of scale to gain competition and increase their global market share. The top players are operating in the market are frequently launching innovative products in the market to increase consumer attraction. Major players operating in the global headrest market have been covered under the scope of the report.
Companies covered in the report are Johnsons, Lear, Grammer, Toyota Boshoku, Faurecia, Camacho, Sumitomo Riko, Huntsman International, DYMOS, TS TECH, TACHI-S, Martur, Yanfeng Johnson, Ningbo Jifeng, and Wuhan Wanxin, among others. Top companies such as Johnsons, Grammer, and Toyota Boshoku are offering innovative products to increase their global presence.
Scope of the Report
The scope of the report covers an in-depth analysis of the market in terms of both qualitative and quantitative analysis across the segments as well as cross-sectional analysis of the segments including the geographies and its countries. Key companies operating in this market and their company profile along with the market share analysis and competitive scenario is also the part of the report.
Furthermore, different industries ' clients’ information has been provided in the report which is very important for the manufacturers. Manufacturers’ data, including revenue, shipment, revenue share, shipment share, and gross profit have been also included, which provide a better understanding of the market competition.
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The Key Opinion Leaders (KOLs) of the respective industry are interviewed and their insights are matched with our findings and database we have and thus we validate our estimates, forecast and provide you the analysis. We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Also, we have top five global knowledge partners such as Bloomberg, S&P Global, and Dow Jones, among others for ultimate data validation, prepared by our research team.
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