Market Definition The Global Automotive Interior Market size valued to USD 129. 32 billion in 2021, is predicted to reach USD 188. 46 billion by 2030, witnessing a CAGR of 4.
New York, May 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Interior Market by Component, by Vehicle Type - Global Opportunity Analysis and Industry Forecast, 2022 – 2030" - https://www.reportlinker.com/p06272301/?utm_source=GNW
3% from 2022-2030. Automotive interiors are explicitly designed for providing comfort, grip, and sound insulation to the vehicle cabin, with advanced safety features for the driver. Interior of the vehicle cabin consists of infotainment system, body panels, headliners, cockpit modules, door panels, automotive seats, and others. The interior components play a vital role in enhancing the performance of automotive, give the vehicle an aesthetic appeal and increase its saleability. Besides, vehicle interior at the very first glance influences a buyer’s perception regarding the quality of a vehicle.
Market Dynamics and Trends
The global automotive interior market is proliferating due to advancements in in-vehicle infotainments, increasing focus on safety of the drivers, inclination towards fuel-efficient light weight models, growing demand for premium vehicles with luxurious automotive interiors, advancements in product technology as well as modernizing automotive infrastructures. Besides, benefits such as enhanced safety features, advanced global position system (GPS), in-vehicle equipped advanced gadgets and growing use of AI as well as IoT at different levels in the automotive; tend to provide ultimate driving experiences. These advanced features of automotive interiors incline towards supplementing the growth of the global automotive interior market throughout the forecast period.
However, higher costs of raw materials, growth in trade war, increase in automotive import tariffs, and lack of efficient recycling processes, restrict the growth of the automotive interior market. Moreover, untapped developing markets in the emerging economies, growing demands for premium segment vehicles, advanced technology adoption by market players as well as economic growth at the global level, are the factors projected to create lucrative opportunities in the global automotive interior market in coming future.
Market Segmentations and Scope of the Study:
The global automotive interior market share analysis is based on component, vehicle type and geography. Based on component, the market is segmented into Flooring, Cockpit Module, Door Panel, Interior Lighting, Automotive Seat, and Other. The cockpit module it further segmented into Infotainment System, Instrument Cluster, Telematics, and Others. Based on vehicle type, the market is divided into Passenger Car and Commercial Vehicle. The commercial vehicle is further fragmented into Light Commercial Vehicle and Heavy Commercial Vehicle. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to account for the major market share in the global automotive interior market, hence dominating the global market throughout the forecast period. This is attributable to market dynamics like technological advancements, economic feasibility of premium vehicles, higher dependence on automotive for personal transport, as well as strict regulatory standards regarding fuel-economy.
Asia Pacific region is expected to grow at the highest CAGR, accounting for a notable market share, owing to advancement in in-vehicle infotainment, rise in the demand for passenger vehicles, willingness of consumers to spend on premium interiors as well as substantial increase in the number of manufacturing facilities in this region.
The automotive interior market, which is highly competitive, consists of various market players. Some of the major market players include Calsonic Kansei Corp., Adient, Faurecia Interior System, Hyundai Mobis Company, Grupo Antolin, IAC Group, Robert Bosch, Lear Corporation, Yanfeng Automotive Interiors and Visteon Corporation among others. The prominent players have adopted product launches and collaborations as their key strategies to gain substantial share in the global automotive interior market. For instance, in March 2020, the major market player of the global automotive interior market Yanfeng Automotive Interiors partnered with SemsoTec GMBH to enhance in-vehicle Human Machine Interface (HMI) into all surfaces of automotive interiors. Yanfeng is a leading global automotive supplier, and SemsoTec is an expert in displays and control units. This partnership strives to create a unique in-vehicle user experience by accelerating seamless HMI integration into future vehicle interiors; extending the development, production, and commercialization of automotive components. The combined expertise shall result in proliferating the design and development activities, hence proving advantageous to the customers along the entire value chain.
KEY MARKET SEGMENTS:
• Global Automotive Interior market – By Component
o Cockpit Module
- Infotainment System
- Instrument Cluster
o Door Panel
o Automotive Seat
o Interior Lighting
• Global Automotive Interior market – By Vehicle Type
o Passenger Car
o Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
• Global Automotive Interior market –By Geography
o North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Read the full report: https://www.reportlinker.com/p06272301/?utm_source=GNW
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