Automotive Interior Market Outlook 2031
The global automotive interior market size was valued at USD 29.77 billion in 2022 and is expected to reach USD 46.18 billion by 2031 at a CAGR of 5% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing need for better and advanced systems with safety features, as customers' income levels rise.
Automotive interiors are soft interior trims that are meant to make a car more appealing, attractive, and comfortable. This contains parts such as the door panel, flooring, seats, speakers, lighting, and many more, all of which aid in attracting the buyer. Increasing consumer disposable income in developing nations has resulted in significant growth in consumer spending capacity on automobile interior design and components.
OEMs select low-cost plastics and interior finishes in cost-sensitive automotive markets. Premium automobile makers, on the other hand, demand high-quality plastics and finishes. The vehicle interior industry can be driven by the wide range of alternatives available to OEMs and suppliers.
Automotive Interior Market Trends, Drivers, Restraints, and Opportunities
- Growing safety concerns of customers, several technical developments, and a boom in demand for premium automobiles are projected to propel the market expansion.
- Increasing usage of plastics in automotive production is estimated to spur market growth during the forecast period.
- Rising vehicle customization becomes a trend that is projected to fuel market expansion in the coming years.
- Increasing environmental concerns, such as high pollution levels, there is a need for fuel-efficient automobiles is anticipated to drive the market growth.
- High cost of advanced interior components is expected to hamper the market growth during the forecast period.
- Rising cost of real leather as a result of the demand-supply gap, as well as the growing number of rules prohibiting the use of synthetic leather, are expected to impede the market's growth in the coming years.
- Demand for systems, materials, and aspects rises, as the standards of lifestyle develop is expecting to create significant opportunities for the market players.
Scope of The Automotive Interior Market Report
The report on the global automotive interior market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Interior Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Component Types (Instrument Panels, Infotainment Systems, Body Panels, Interior Lightings, and Others), Vehicles Types (LCV, HCV, Passenger Cars), End-users (Aftermarket and OEM), and Applications (Doors, Consoles & Dashboards, Seat, Floor Carpet, and Steering Wheels)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Toyota Boshuku Corporation; Robert Bosch GmbH; Pioneer Corporation; Panasonic Corp.; Magna International; JVCKENWOOD Corporation; Hyundai Mobis Co.; Grupo Antolin; Faurecia; Adient PLC; and Denso Corporation
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Global Automotive Interior Market Segment Insights
Infotainment segment is expected to expand at a robust pace
In terms of component types, the market is segmented into instrument panels, infotainment systems, body panels, interior lightings, and others. The infotainment segment is expected to hold a key share of the market in the coming years due to the growing use of network-based technological solutions in automobiles, especially advanced vehicles, which is contributing to the segment's growth.
Passenger cars segment is anticipated to register at a substantial CAGR
on the basis of vehicle types, the global automotive interior market is segregated into LCV, HCV, passenger cars. The passenger cars segment is expected to represent a key share of the market during the forecast period owing to benefit of consumers' increased willingness to spend on high-quality, long-lasting goods.
As a result, manufacturers are developing unique goods with high-end features at low prices, an increase in demand for commercial transportation services, such as taxis, is expected to drive demand for light commercial vehicles during the forecast period. Furthermore, increased global road infrastructure, growing urbanization, and favorable regulatory policies are expected to boost demand.
Aftermarket segment is expected to grow at a significant pace
Based on end-users, the market is bifurcated into aftermarket and OEM. The aftermarket segment is expected to hold a key share of the market in the coming years due to floor carpets, replacement seat cover, and steering covers can all contribute considerably to the segment's growth. E-commerce platforms are expected to play a significant role, allowing small businesses to extend their reach and customer base.
Seat segment is projected to account for a large market share
In terms of applications, the global automotive interior market is segmented into doors, consoles & dashboards, seat, floor carpet, and steering wheels. The seat segment is expected to hold a key share of the market in the coming years due to seats are important they reduce driver discomfort during long rides or in unfavorable driving conditions. A variety of materials have been used as a consequence of various psychological and physiological research on human perception, weight distribution, posture, and adjustability.
Seat cushioning is made from high-performance polyurethane foams combined with covering materials such as leather or cloth. The usage of carbon fibers and other performance composites in the back section of seats has come from the requirement for lightweight components in current automobiles.
Asia-Pacific is anticipated to dominate the market
On the basis of regions, the global automotive interior market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-Pacific is anticipated to dominate the market with an impressive CAGR during the forecast period. The regional market growth can be attributed to economic growth, urbanization, expanding middle-class spending power, favorable government efforts, and other factors are propel the market expansion. The regional market demand will be boosted by the growing demand for passenger automobiles, as well as increased aftermarket activity.
Segments
The global automotive interior market has been segmented on the basis of
Component Types
- Instrument Panels
- Infotainment Systems
- Body Panels
- Interior Lightings
- Others
Vehicles Types
End-users
Applications
- Doors
- Consoles & Dashboards
- Seat
- Floors Carpets
- Steering Wheels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Toyota Boshuku Corporation
- Robert Bosch GmbH
- Pioneer Corporation
- Panasonic Corp.
- Magna International
- JVCKENWOOD Corporation
- Hyundai Mobis Co.
- Grupo Antolin
- Faurecia
- Adient PLC
- Denso Corporation
Competitive Landscape
Key players competing in the market include Toyota Boshuku Corporation; Robert Bosch GmbH; Pioneer Corporation; Panasonic Corp.; Magna International; JVCKENWOOD Corporation; Hyundai Mobis Co.; Grupo Antolin; Faurecia; Adient PLC; and Denso Corporation. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.
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