Market Research Future (MRFR) has published on the “Global Automotive Interior Market”.
The Global Automotive Interior Market is estimated to register a CAGR of 5.5% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in Global Automotive Interior Market— Continental AG, Robert Bosch GmbH, Hyundai Mobis ,Denso corporation, Valeo, Panasonic Holdings Corporation, FORVIA Faurecia, ZF Friedrichshafen AG, Yanfeng, Antolin, Texas Instruments Incorporated, Magna International Inc, Harman International, Visteon Corporation, Nippon Seiki Co., Ltd.
Market Highlights
Global Automotive Interior market is accounted for to register a CAGR of 5.5% during the forecast period and is estimated to reach USD 1,42,955.98 million by 2032.
The significance of automotive interiors has escalated, influencing customers' vehicle preferences across both passenger and commercial segments. Initially, only premium vehicles boasted feature-rich interiors. However, manufacturers have acknowledged the necessity to incorporate innovative features across all vehicle categories to captivate consumers. Premium car sales have surged worldwide, with features previously exclusive to this segment, such as memory seats, panoramic sunroofs, heated and ventilated seats, and heated steering wheels, becoming more common in mid-segment automobiles, intensifying competition among manufacturers. The demand for advanced automotive interior components is poised to escalate in tandem with the rising preference for luxury vehicles. Luxury cars, characterized by high-end features like smart seating systems, head-up displays (HUDs), illuminated headliners, heated steering wheels, and ambient lighting, are witnessing increased adoption.
In addition to technological innovations, advancements in seat design play a pivotal role in enhancing passenger comfort and satisfaction. As passengers spend increasingly more time in their vehicles, the demand for continuous innovation and improvement in seat technology and design becomes increasingly apparent. Technological advancements are at the forefront of revolutionizing vehicle seating. Today, seats are equipped with smart technology that monitors passengers' posture and body temperature, automatically adjusting to provide optimal comfort and support. These seats can even adapt to different driving modes, ensuring passengers experience the utmost comfort regardless of road conditions or driving style.
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Segment Analysis
The Global Automotive Interior Market has been segmented based on Component Type, Vehicle Type, Vehicle Propulsion , Sales Channel and Region.
Based on Component, the Global Automotive Interior Market has been segmented into Passenger cars and trucks .Passenger cars are further sub segmented into Center Console/Center Stack which includes the controls of a vehicle located between the driver's and passenger's seat, typically including the heater/air conditioning , the car radio , and the gear shift, Head-Up Display ,Instrument Cluster ,Rear Seat Entertainment, Dashboard ,Arm Rest ,Seats & Storage ,Upholstery ,Others (Drink holder, and seat belts) while Trucks are further sub segmented into Bunker Beds, Fridges, Dashboard, Seats, Instrument Cluster, Upholstery .
Based on Vehicle Type, the Global Automotive Interior market has been segmented into Passenger Cars which are further segmented into Economic Cars, Mid-Segment Cars, Luxury Segment Cars, and Heavy-Duty Trucks which are segmented by Class 8 and Class 9. The Passenger cars held the largest market share in 2022.Consumer demand for enhanced comfort, convenience, and entertainment features in vehicles is rising, driven by increased time spent commuting or traveling. Automakers are responding by integrating various interior components, such as advanced infotainment systems, climate control, and connectivity options, to meet passenger expectations.
Based on Sales Channel, the global Automotive Interior market has been segmented into OEM and Aftermarket. The OEM segment held the largest market share in 2022. An OEM, or Original Equipment Manufacturer, is a company responsible for producing components utilized in vehicle manufacturing, encompassing items like seats, dashboards, center consoles, and more within the automotive interior market.
Regional Analysis
The study offers market insights into regions including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. With 42.8% market share, Asia-Pacific emerges as the leading region in the global automotive interior market, fueled by robust automotive industries in countries like China, Japan, India, and South Korea. This dominance is expected to persist throughout the forecast period due to increasing demand for passenger cars in the region and rising disposable incomes.
In North America there is a driving demand for new and innovative interior solution. North America automotive interior market is increases by the presence of various key players who have achieved leading market positions through close connectivity to customers and developed a strong network of suppliers, manufacturing sites, and engineering hubs.
Europe is home to many luxury car manufacturers who host various advanced features, electronic devices, and sensors in their vehicles. This is expected to be an important factor in the growth of the market in this region. Due to increased demand for autonomous vehicles, Europe is expected to account for significant growth in the automotive interior market. Major countries such as Germany, the UK, Spain, France, and Italy. Europe's share will significantly grow in the automotive interior market.
Furthermore, increased demand for personal vehicles drives automobile production and opens new avenues for market expansion. The rising sales and adoption of electric vehicles is likely to boost market growth during the anticipated period.
Key Findings of the Study
- The Global Automotive Interior Market is expected to reach USD 1,42,955.98 million by 2032, at a CAGR of 5.5% during the forecast period.
- The Asia Pacific region held the largest market share of Global Automotive Interior Market in 2022.
- Based on Vehicle Type, the Passenger car segment was attributed to holding the largest market in 2022, with an approximate market share of 68.3%
- Continental AG, Robert Bosch GmbH, Hyundai Mobis ,Denso corporation, Valeo, Panasonic Holdings Corporation, FORVIA Faurecia, ZF Friedrichshafen AG, Yanfeng, Antolin, Texas Instruments Incorporated, Magna International Inc, Harman International, Visteon Corporation, Nippon Seiki Co., Ltd. are the players in the market.
- Based on Vehicle Propulsion ICE Vehicle held the largest market share.
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Companies Covered | 15 |
Pages | 207 |
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