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SAN FRANCISCO, April 14, 2022 /PRNewswire/ -- The global car phone holder market size is anticipated to reach USD 1.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2022 to 2030. Car phone holder makes a crucial accessory, mainly used to hold mobile phones while driving on a road in passenger and cargo cars. The inclination of customers towards enhanced performance experience while driving, and the surge in demand for passenger cars owing to a rise in disposable income and improved lifestyle drive the growth of the market.
Key Insights & Findings from the report:
Read 80 page market research report, "Car Phone Holder Market Size, Share & Trends Analysis Report By Product (Air Vent, Suction Cup, Adhesive, CD Slot), By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Car Phone Holder Market Growth & Trends
The car phone holder is the easiest-to-use and most convenient solution for holding a mobile in a car. The multi-utility and premium car phone holders are used for attending calls, checking emails, accessing google maps, playing music, and performing various other different tasks without actually holding a mobile in hand. At present, majority of the car accidents are caused owing to mobile phone usage while driving. For instance, the Insurance Institute for highway safety declared that fatal crash risk is 66% higher when using a mobile. An excellent car phone holder can reduce those risks and enhance driver and vehicle safety.
Car phone holder offers a wide range of applications with installing and using car phone mounts to permit secure and safe control of the car's entertainment system and provides a wireless car charger. Additionally, they are used for holding the mobile near the dashboard, making it easy to use the navigation system, or to maintain hands-free calling. The need for safety and security while driving on the road has been propelling the demand for car phone holders for the past few years.
The Covid-19 pandemic is affecting the market, impacting key supply chains, weakening manufacturing confidence, while low demand for raw materials and commodities is heightening the uncertainty for the market. The production facilities of the automobile parts have been shut due to the disruption in supply chain management, production halt, and unavailability of the workforce across the globe. However, recovery in the pandemic situation and production resumption of automotive and its accessories is likely to uplift the growth of the market.
Car Phone Holder Market Segmentation
Grand View Research has segmented the global car phone holder market on the basis of product, distribution channel, and region:
Car Phone Holder Product Outlook (Revenue, USD Million, 2017 - 2030)
Car Phone Holder Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
Car Phone Holder Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players of Car Phone Holder Market
Apr 14, 2022, 06:40 ET