Automotive Grab Handle Market: Introduction
Grab handles are considered as a key safety feature of any vehicle. Getting in or out of a vehicle can be extremely dangerous if its grab handles are poorly manufactured or designed, not attached correctly, or corroded. They’re meant to allow a bit of support when entering and exiting the vehicle. Grab handles come in different forms and sizes. Some are installed outside the vehicle’s doors to help passengers climb in and out while other types are installed inside the vehicle to help passengers balance themselves when driving in harsh terrain.
Grab handles along with providing increased comfort levels, also contributes in enhancing the styling of the car. This is why car designers emphasize on the look and feel of grab handles along with the safety and comfort requirements. The intention of faster production with cost optimization in order to increase profits and maintain market competitiveness, is regarded as a key growth strategy among emerging market players. This is thus, expected to propel the market growth for automotive grab handle.
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Automotive Grab Handle Market: Dynamics
Automotive grab handle is estimated to witness a high demand in the automotive industry in the coming years owing to various factors such as surging people disposable income coupled with increase in number of automotive sales. Additionally, vehicle customization especially among automotive enthusiasts and the emerging popularity of automotive accessories is also projected to amplify the market growth in the upcoming years.
In the current market scenario, winning OEM supply contracts enables the manufacturers to grow and withstand their market share, owing to negligible replacement rate of grab handles in the aftermarket. In addition, minimal cost of grab handles and easy installation process is expected to further augment the automotive grab handle market growth over the forecast period.
Development of new manufacturing facilities in emerging regions in order to meet the demand from automobile industry is expected to fuel the growth automotive grab handle market. Lucrative growth of the automotive component industry is projected to spur the demand for automotive grab handle in the market, which in turn, is likely to encourage manufacturers to expand their production facilities. Moreover, automotive grab handle manufacturers are entering into consolidation activities to expand and secure their presence in the market.
Automotive Grab Handle Market: Market Segmentation
On the basis of material type, the global automotive grab handle market can be segmented into the following,
- Billet Aluminum
- Plastic
- Stainless Steel
On the basis of vehicle, the global automotive grab handle market can be segmented into the following,
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Buses and Coaches
- Trucks and Trailers
- Passenger Vehicle
- Compact Cars
- SUVs
- Luxury Cars
- Mid-sized Cars
On the basis of sales channel, the global automotive grab handle market can be segmented into the following,
- OEM
- Aftermarket
Automotive Grab Handle: Regional Market Outlook
The upsurge in the adoption of advanced technologies, especially in the automotive industry, to create lucrative opportunities, especially in the Asia Pacific region.
Increasing sales of mid-sized cars, particularly in the Asia Pacific region, make it a potential segment for manufacturers specializing in compact designs of automotive grab handles. This is backed by factors such as noteworthy growth in disposable income, rise in automobile and manufacturing industry especially in China & India. This is estimated to create lucrative growth opportunities in the automotive grab handle market.
Similarly, in regions such as Europe and North America, the demand for travelling convenience and safety features in automobiles is widening which requires fast production capacity with high precision. As a result, North America and Europe markets are stipulated to be the attractive regions for the automotive grab handle market.
With rising demand from South Asia and East Asia, new players in the automotive grab handle market are estimated to find substantial investment opportunities in such target regions.
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Automotive Grab Handle: Market Key Players
Some of the prominent market participants in the global automotive grab handle market include the following players:
- Rugged Ridge
- Crown Automotive Sales Co. Inc.
- Omix
- Dorman Products
- American Shifter Company
- Eberhard
- Warrior, Inc.
- Smittybilt Inc.
- Skyjacker Suspensions
- Quadratec, Inc.