According to the latest report by IMARC Group, title “Automotive Interiors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global automotive interiors market reached a value of US$ 144.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 197.73 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
Automotive interiors are a set of numerous integrated essential components designed to ensure comfort, offer grip and sound insulation, and enhance the aesthetic appeal and performance of vehicles. They comprise headliners, door panels, cockpit modules, seats, interior lighting, and dashboards. These components are produced from varying materials such as rubber, composites, plastics, wood, and fabrics. They prevent allergies, offer high resale value and quality, improve driving experience and safety, eliminate odor, protect upholstery, and remove stains. As a result, automotive interiors are widely utilized in commercial and passenger vehicles.
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Automotive Interiors Market Trends:
The market is primarily driven by the significant expansion in the automotive industry due to rapid urbanization, increasing disposable income, and rising demand for luxurious vehicles with enhanced features and safety arrangements. In addition, the integration of new lightweight materials, such as bio-polyester and bio-polyethylene terephthalate (PET), for automotive seats that help reduce vehicle weight and provide flexibility, is contributing to the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI)-enabled entertainment systems, hands-free connectivity, and global positioning systems (GPS) in automobiles, represent another major growth-inducing factor. Besides this, governments of numerous countries are taking initiatives to promote manufacturers for building regional manufacturing plants by offering tax concessions and subsidies which is providing a positive thrust to the market growth. Furthermore, extensive research and development (R&D) activities and mergers and acquisitions (M&A) among key players to introduce ingenious automotive interior solutions to meet consumer demands are creating a favorable market outlook across the globe.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Cockpit Module
- Flooring
- Door Panel
- Automotive Seat
- Interior Lighting
- Others
Breakup by Material:
- Leather
- Fabric
- Vinyl
- Wood
- Glass Fiber Composite
- Carbon Fiber Composite
- Metal
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Adient plc, Continental AG, Dräxlmaier Group, Grupo Antolin, International Automotive Components Group (Lear Corporation), JVCKENWOOD Corporation, KYOCERA Corporation, Panasonic Corporation, Pioneer Corporation, Robert Bosch GmbH, Toyota Boshoku Corporation and Yanfeng Automotive Interior Systems Co. Ltd.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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