PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290817
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290817
The Automotive Assist Grip Market size was valued at USD 1,304.9 Million in 2022, expanding at a CAGR of 6.8% from 2023 to 2030.
Automotive assist grips are grips or handles that are put in cars to aid occupants in getting in and out, maintaining their balance while driving, and providing additional support in the event of unexpected movements or accidents. These grips can be fitted in a number of places within the automobile, including the roof, supports, and door handles, and are often composed of sturdy materials like plastic, metal, or rubber.
Growing concerns about traffic accidents and the need of maintaining passenger safety are driving up demand for safety measures in automobiles. The demand for different safety-related items, like automotive assist grips, has increased as a result of growing awareness of the importance of safety features in automobiles. A road traffic accident claims the lives of almost 1.3 million people every year, according to the WHO. There are an additional 20 to 50 million people who sustain non-fatal injuries, many of whom go on to develop disabilities.
The Global Automotive Assist Grip Market is segmented on the basis of Type, Application, and Region.
The market is divided into three categories based on type: Fixed Type, Extension Type, and Rotating Type. Assist grips with a fixed design are fixed to the car and cannot move or rotate. These grips, which are normally located on the car's roof or pillars, are intended to give passengers entering and exiting the vehicle a steady and firm grasp. Elderly or handicapped passengers who require additional help when boarding or disembarking the car frequently favor fixed-type assist grips.
The market is divided into two categories based on application: passenger cars and commercial vehicles. The market for automotive assist grips is likely to stay dominated by passenger automobiles due to the rising demand for passenger safety and comfort features. Another factor that is anticipated to aid in the expansion of this market is the rising popularity of crossovers and SUVs, which frequently call for the employment of assist grips for simpler entrance and departure. Also, the popularity of ride-sharing services has boosted the need for vehicles that are safer and more comfortable, which has resulted in a surge in the installation of automotive assist handles in passenger automobiles.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia-Pacific region, notably China, India, and Japan, is predicted to expand in the automotive assist grip market. This is due to the region's growing demand for vehicles, the expansion of the automotive sector, and the rising acceptance of innovative technology in automotive manufacturing. Due to the presence of major automobile manufacturers and the rising demand for safety features in cars, North America and Europe are likely to demonstrate substantial development in the automotive assist grip market.
The automobile assist grip market is highly competitive, and prominent competitors are projected to continue to spend on R&D and extend their regional presence in order to preserve their market position. Also, as businesses seek to strengthen their positions and obtain a competitive edge, the market is probably going to witness a rise in mergers and acquisitions. The market is also characterized by fierce price rivalry, with competitors using aggressive pricing tactics to compete for market share. To stay competitive, businesses are concentrating on enhancing the effectiveness of their supply chains and cutting manufacturing costs.
To acquire a competitive edge in the market, many businesses are concentrating on product innovation and development. With the purpose of creating fresh, cutting-edge products that satisfy the changing demands of consumers, they are engaging in research and development efforts. Also, businesses are extending their geographic reach through strategic alliances, joint ventures, and acquisitions.
The scope of this report covers the market by its major segments, which include as follows: