The global automotive interior market is estimated to grow at a CAGR of 5.6% during the forecast period, from USD 153.5 billion in 2022 to USD 201.2 billion by 2027. The automotive industry is continuously evolving, with an increasing focus on semi-autonomous and autonomous vehicle technologies. Several vehicle manufacturers have showcased their new concept cars with autonomous and connected car technologies. These cars, with their advanced technologies and radical designs, are expected to hit the market soon. The interiors in these cars need to provide comfort and convenience and should have the latest technology incorporated. The increasing demand for advanced automotive interior solutions and systems can be attributed to advances in semi-autonomous and autonomous technologies.
“BEV segment is projected to be the largest electric vehicle segment during the forecast period.”
The demand for BEVs is expected to increase in the coming years due to an increase in the adoption of strict emission norms by governments of various countries. Several governments now provide subsidies for the use of environment-friendly vehicles, thereby encouraging the use of electric vehicles. Stringent emission regulations in the US, particularly in states such as California and New York, have led to increased sales of electric vehicles. Electric vehicles tend to have a higher number of electronics/advanced systems. Thus, the growing number of electric vehicles will result in an increased demand for advanced automotive interior systems. In Europe, the market for BEVs is estimated to grow due to emission regulation mandates and development of electric vehicle infrastructure. OEMs are also expanding their manufacturing facilities worldwide to increase the production of electric vehicles.
“The passenger car segment is estimated to be the largest automotive interior market, by vehicle”
The passenger car segment is projected to have the largest share of the automotive interior market during the forecast period. The increasing purchasing power of consumers, growing sales of semi-luxury & luxury vehicles, and high demand for convenience features are expected to boost the passenger car segment. The advent of semi-autonomous and autonomous vehicles is also attributed to the overall growth of the market. Passenger vehicles are the most focused segment for automotive interior manufacturers. The technologies used in this type of vehicle are frequently changing due to the high demand from consumers for luxurious and convenience features. Also, government regulations for emissions and safety are frequently changing. The manufacturers must reduce the weight of passenger vehicles and offer comfort and safety to the consumers at a lower price. Due to the increasing demand for autonomous and electric vehicles, the electronic content is frequently increasing in passenger vehicle interiors, which, in turn, is driving the growth of the passenger vehicle interior market.
“Asia Pacific automotive interior market is projected to grow at a significant rate during the forecast period.”
The major growth drivers for the Asia Pacific automotive interior market include the growing demand for technology, the rising need for a safe and secure driving experience, and an increase in the development of connected cars.
Significant demand for high-end premium vehicles with advanced interior features and technologies such as HUD, powered & heated seats with massage function, center stack, rear-seat entertainment, and interior/ambient lighting are fuelling the growth in the region. Also, the region has the presence of renowned automotive interior component providers, such as Continental AG (Germany), Grupo Antolin (Spain), Hyundai Mobis (South Korea), and Robert Bosch GmbH (Germany) are the major players in this region. The presence of major automobile manufacturers, combined with technological prowess, would result in a significant rise in the demand for advanced interior systems and components in Asia Pacific.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1: 45%, Tier 2: 15%, OEM: 40%
- By Designation: C level: 31%, D level: 41%, Others: 28%
- By Region: North America: 28%, Europe: 23%, Asia Pacific: 35%, RoW: 14%
Some of the key players in the automotive interior market are Continental AG (Germany), Faurecia SA (France), Grupo Antolin (Spain), Hyundai Mobis (South Korea), Magna International Inc. (Canada), Adient (US), TVisteon (US), Dr?xlmaier Group (Germany), Panasonic Corporation (Japan) and others
The report segments the automotive interior market, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World), component (center stack, door panel, instrument cluster, interior lighting, headliner, dome module, HUD, rear-seat entertainment, adhesives & tapes, and seats), material (metal, vinyl, leather, wood, fabric, glass fiber composite and carbon fiber composite), level of autonomy (semi-autonomous, autonomous, non autonomous), electric vehicle (BEV, FCEV, HEV, and PHEV), passenger car class(economic, mid segment and luxury) and vehicle type (PC, LCV, and HCV). This report contains various levels of industry analysis and company profiles, which highlight emerging and high-growth segments of this market, competitive mapping, and market dynamics (drivers, restraints, opportunities, & challenges).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive interior market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
Key Benefits of Buying the Report:
- The report offers comprehensive information about the automotive interior market and the top players in the market.
- The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive interior market.
- The report offers comprehensive information about the automotive interior market. The report analyses the automotive interior market across regions and provides comprehensive information about lucrative emerging markets.
- The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive interior market.