Global Automotive Interiors Market Report, published by Variant Market Research, forecast that the global market is expected to reach $291.8 billion by 2025 from $170.7 billion in 2017, growing at a CAGR of 6.9% from 2017 to 2025. By Geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 7.4% and 7.3%, respectively, during the forecast period. Increasing consumer demand for innovative and technologically advanced systems fuel the automotive interiors market.
“Automotive Interiors Market (By Component: Cockpit Module, Flooring, Door Panel, Automotive Seat, Interior Lighting and Other components; By Vehicle Type: Passenger Cars, and Commercial Vehicle; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025”
The global automotive interiors market is mainly driven by growing automotive industry
Increasing income level and the growing consumer demand for technologically advanced, and innovative systems for an improved driving skill are the major factor propelling the growth of the market. In addition, increasing demand of interior styling, cabin comfort and convenience features have also encouraged the market to grow. However, high price and high-power consumption in automotive interiors are the restraint of the market. Though, technology advancement and rising demand for interior styling provide lucrative opportunities to the market.
Component, vehicle type, and geography are the segmentations in the global automotive interiors market. Component segment is categorized into cockpit module, flooring, door panel, automotive seat, interior lighting and other components (acoustic, sun visors, headliner, overhead systems). Cockpit module is sub segmented into infotainment, instrument cluster, telematics, other cockpit modules (audio, connectivity). By vehicle type, the market is bifurcated into passenger cars and commercial vehicle. Furthermore, commercial vehicle is sub segmented into LCV and HCV.
Automotive seat, by component segment led the market with major share in 2017
Automotive seat accounted for the majority of the market share in the component segment in the year 2017 and is expected to continue its trend during the forecast period 2017 – 2025. The high growth is attributed to comfort and travel by the user.
Passenger cars held for the leading market share in the vehicle type segment
Passenger cars contributed for the highest market share in 2017, in the vehicle type segment owing to increasing demand for interior comfort in cars. Moreover, it is expected to achieve the fastest CAGR over the forecast period 2017 – 2025.
Asia-Pacific occupied the major share in the global automotive interior market
In the year 2017, Asia-Pacific generated the highest revenue accounting for 37.5% of the total market share, owing to lower labor costs and transportation. Also, Asia-Pacific is anticipated to attain the fastest CAGR throughout the forecast period, driven by user disposable income for emerging economies such as China and India.
The major key market players include TACHI-S CO., LTD, Visteon Corporation., Calsonic Kansei Corporation, Faurecia Interior System, Grupo Antolin, Johnson Controls, IAC Group, Lear Corporation, Delphi Technologies, and HYUNDAI MOBIS, among others.