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. Apart from providing a spin to the cover, this technology also provides a spin to the liquid inside which keeps it away from falling. This technology was tested and gained popularity among the consumers. Apart from providing a spill free holder consumers are also looking for the temperature control automotive cup holder which keep their drinks hot or cold as per the requirement. This is achieved by using certain thermostatic materials at the bottom which are used in the thermos, and they maintain the required temperature.
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Market Overview:
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. Due to the growing urbanization people have started taking decisions on buying automobiles not only on the basis of speed and fuel efficiency but also by the looks, interiors, accessories and the technologies which are provided in the automobile. The automobile cup holder market is expected to grow with a decent CAGR in the forecast period.
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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