Automotive Glove Box Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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<strong>Automotive</strong> <strong>Glove</strong> <strong>Box</strong> <strong>Market</strong> - <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong>, <strong>Size</strong>, <strong>Share</strong>,<br />
<strong>Growth</strong>, <strong>Trends</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2017</strong> - <strong>2025</strong><br />
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<strong>Automotive</strong> glove box is also known as glove compartment or glovie. It is an interior component of an automobile<br />
<strong>and</strong> part of the vehicle’s dashboard. It is used for miscellaneous purposes.<br />
<strong>Automotive</strong> component suppliers produce glove box <strong>and</strong> supply it to original equipment manufacturers<br />
(OEM) such as Volkswagen AG, BMW AG, Daimler AG, Renault <strong>and</strong> PSA Group among others. The OEMs<br />
install the glove box in automobiles. The glove box is a vital component required for the manufacturing of an<br />
automobiles.<br />
By vehicle type the market is segmented into passenger vehicles, light commercial vehicles <strong>and</strong> heavy commercial<br />
vehicles. The market share of passenger vehicles is more than commercial vehicles.<br />
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By geography the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa <strong>and</strong><br />
Latin America. North America is a major automotive glove box market with the U.S. being the largest market<br />
in the region. The U.S is the second largest automotive manufacturer in the world. Canada <strong>and</strong> Mexico are<br />
other significant markets in this region. Recently KSTN Plastic Solutions, Germany (part of Ashok Minda<br />
Group) has opened a new manufacturing facility in Mexico to manufacture glove box <strong>and</strong> other automotive<br />
components for Volkswagen <strong>and</strong> other automotive OEMs. This is anticipated to increase the market size of<br />
glove box in Mexico <strong>and</strong> North America. Europe is another major automotive glove box market in the world<br />
with Germany being the largest market in this region. Germany is the largest automotive market in Europe.<br />
The U.K, France, Italy, Spain, Belgium <strong>and</strong> Netherl<strong>and</strong>s are other major markets in this region. Asia Pacific<br />
is a dominant automotive glove box market in the world with China being the largest market in this region.<br />
China is the largest automotive market in the world. Japan, South Korea, India <strong>and</strong> Australia are other significant<br />
markets in this region. Middle East & Africa <strong>and</strong> Latin America are other major automotive glove box<br />
markets. Turkey, Iran, South Africa, Brazil <strong>and</strong> Argentina are prominent markets in the above regions.<br />
Rising dem<strong>and</strong> of vehicles across the world is anticipated to increase the dem<strong>and</strong> for automotive glove box
market. A major short term restraint faced by automotive OEMs is decreasing production of glove box. <strong>Automotive</strong><br />
component supplier Recital’s production of glove box was hampered due to fire. This forced OEMs<br />
such as Volkswagen to stop their production for limited number of days <strong>and</strong> store their Passat cars until enough<br />
glove boxes were available.<br />
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A major opportunity in automotive glove box market is increasing the use of polycarbonate <strong>and</strong> other polymer<br />
<strong>and</strong> plastic material in glove box production. Fuel efficiency is inversely proportional to the weight of vehicle.<br />
If polycarbonates are used to produce automotive glove box <strong>and</strong> other interior vehicle components it will<br />
reduce vehicle weight <strong>and</strong> increase fuel efficiency <strong>and</strong> reduce vehicle emission. There is an increasing acceptance<br />
of hybrid <strong>and</strong> electric vehicles across the world. Major automotive manufacturers are producing<br />
electric vehicles which is anticipated to increase the dem<strong>and</strong> for automotive glove box market.<br />
The report highlights the various competitive strategies adopted by key players operating in the market to<br />
gain market share. Company profiles include company details, market presence by segment <strong>and</strong> geography,<br />
strategic overview, SWOT analysis <strong>and</strong> historical revenue. The report also contains details of market share<br />
analysis of key players in the market. Major firms operating in the automotive glove box market are Magna<br />
International Inc. (Canada), IAC Group (Luxembourg), Visteon Corporation (the U.S), ITW (the U.S), Moriroku<br />
Holdings Company (Japan), Yanfeng <strong>Automotive</strong> Interiors (China), Faurecia (the U.S), Trinseo S.A (the<br />
U.S), Hyundai Mobis (South Korea), Minda KTSN Plastic Solutions GmbH & Co.KG (Germany) <strong>and</strong> Recticel<br />
(Belgium)<br />
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical<br />
data, <strong>and</strong> verifiable projections about market size. The projections featured in the report have been<br />
derived using proven research methodologies <strong>and</strong> assumptions. By doing so, the research report serves as a<br />
repository of analysis <strong>and</strong> information for every facet of the market, including but not limited to: Regional<br />
markets, technology, types, <strong>and</strong> applications.<br />
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