Car Phone Holder Market Size is Estimated to Witness 5.5% CAGR till 2030

[sara James]

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.

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.

Related Press Release@ Car Phone Holder Market Report

Car Phone Holder Market Report Highlights

• The market is expected to grow at a significant pace from 2022 to 2030 on account of growing safety-related concerns and rising road accident cases while driving
• The air vent mounted segment accounted for the largest revenue share in 2021 and is projected to maintain its leading position during the forecast period. These car phone holder types are easy to secure and their placement on the air vent makes them very convenient for the driver to read and reach
• The online segment is anticipated to lead the distribution channel segment owing to the growing online presence of retailers and easy to compare and buy method
• Asia Pacific had the largest market share in 2021 and is likely to continue the same trend in the coming years. Rising demand for automobiles and the growing spending power of consumers along with the necessity for driver’s safety are some of the aspects leading to the growth of the region