Automotive Interior Market: Segmented: By Component (Center Stack, Head-Up Display, Instrument Cluster, Rear Seat Entertainment, Dome Module, Headliner, Seat, Interior Lighting, Door Panel, Adhesives & Tapes, and Others), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Material (Leather, Fabric, Vinyl, Wood, Glass Fiber Composite, Carbon Fiber Composite, Metal) And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Automotive Interior Market to surpass USD 254.9 billion by 2031 from USD 156.5 billion in 2021 at a CAGR of 5% in the coming years, i.e., 2021-2031.
Customer expectations in the area of mobility are changing at a breakneck pace. Internal combustion engine vehicles built around a mechanical powertrain and a human driver are rapidly giving way to electric, autonomous mobility solutions that provide a personalized travel experience in the automotive industry. Interior design engineers ensure that every occupant, regardless of size, has a safe and comfortable seat, whether sitting upright or reclining, facing the road or swiveling around to change the temperature in a specific zone and is free of unwanted noises and vibrations.
The Automotive Interior Market is expected to register a notable CAGR of 5% by 2031
The expanding demand for private vehicles, improving consumer standards of living, rising disposable income, rising demand for premium vehicles, and the growing popularity of electric vehicles around the world are some of the primary reasons driving the global automotive interior market forward.
The Seat segment is anticipated to grow considerably during the estimated period
Since seats are a comforting and essential component of any passenger or commercial vehicle, the seat segment is expected to dominate the automotive interior market throughout the forecast period. The expanding vehicle production and rising demand for comfort and luxury are driving this market's expansion. The seat has a significant impact on the driving and passenger experience. New firms have introduced technology that enables intelligent sitting adjustment, customized comfort, and a variety of additional functions.
The Glass Fiber Composite segment is projected to witness significant growth shortly
During the projected period, the glass fiber composite sector is expected to have the largest market. It's commonly utilized in interior applications including doors, dashboards, headliners, and insulation in automobiles. It has several advantages, including excellent impact resistance, low cost, decreased brittleness, and lightweight. It can also be easily molded into any shape.
Focus on making vehicles lightweight through different interior materials and innovations
Manufacturers have been able to lower car weight and develop more comfortable interiors because of the introduction of new materials and advanced technology. The seating system is where the largest weight reduction is achieved in car interior components. Vehicles that are made of lightweight materials are more efficient. The market is expanding due to the rising demand for lightweight commercial vehicles for commodities transportation.
Increasing technological advancements for adding comfort are propelling the market growth
The demand for sophisticated automotive interiors is being fueled by increased safety concerns along with technological improvements. Smart lighting systems, advanced seating systems, and increased investments in the development of comfortable and convenient interiors are all driving the global automotive interior industry forward.
Significantly priced advanced automotive interiors are acting as a restraint
Although the cost of modern automotive interior components has reduced in recent years, the cost of sophisticated automotive interior electronic components has remained high. As a result, until the cost of these revolutionary technologies is reduced, they will not find widespread use in low-cost or low-volume vehicles, stifling market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
During the projected period, Asia Pacific is expected to be the largest and fastest-growing automotive interior market. The expanding vehicle production and rising demand for comfort and luxury are driving this market's expansion. The market for automotive interior components is led by the Asia Pacific, which is the world's largest market for car production. The small/economy automobile category dominates the market in the Asia Pacific, with higher adoption of interior components.
Due to the influence on vehicle manufacturing, the automotive interior market experienced a drop following COVID-19. However, the expansion of this industry would be aided by a sustained recovery in car production after 2021. Automotive interior suppliers, like the majority of the industry's key companies, were affected by the outbreak.
|The market size value in 2021||USD 156.5 billion|
|The revenue forecast in 2031||USD 254.9 billion|
|Growth Rate||CAGR of 5% from 2021 to 2031|
|The base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Vehicle Type, Material, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Toyoda Gosei Co., Ltd., ContiTech AG, DraxlmaierGroup, Sage Automotive Interiors, SMS Auto Fabrics, Takata Corporation, Lear Corporation, Faurecia S.A., Yanfeng Automotive Interiors, Calsonic KenseiCorporation, Magna International, Grupo Antolin, Tachi-S Co. Ltd., TATA Group, and Hyundai Mobis Co. Ltd.|
The Automotive Interior Market size was estimated at USD 156.5 billion in 2021 and expected to reach USD 156.5 billion by 2031
Key players: Toyoda Gosei Co., Ltd., ContiTech AG, DraxlmaierGroup, Sage Automotive Interiors, SMS Auto Fabrics, Takata Corporation, LEAR Corporation, Faurecia S.A., Yanfeng Automotive Interiors, Calsonic KenseiCorporation, Magna International, GrupoAntolin, Tachi-S Co. Ltd., TATA Group, and Hyundai Mobis Co. Ltd.
The Seat segment and The Glass Fiber Composite segment are anticipated to hold the largest Automotive Interior Market.
Drivers: Focus on making vehicles lightweight through different interior materials and innovations and Increasing technological advancements for adding comfort are propelling the market growth
Customer expectations in the area of mobility are changing at a breakneck pace. Internal combustion engine vehicles built around a mechanical powertrain and a human driver are rapidly giving way to electric, autonomous mobility solutions that provide a personalized travel experience in the automotive industry.
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