Automotive Interior Market worth $201.2 billion by 2027 - Exclusive Report by MarketsandMarkets™

News provided by

Mar 14, 2022, 05:30 ET

CHICAGO, March 14, 2022 /PRNewswire/ -- According to the new market research report "Automotive Interior Market by Component (Automotive Displays, Door Panel, Dome Module, Headliner, Seat, Interior Lighting), Material Type, Level of Autonomy, Electric Vehicle, Passenger Car Class, ICE Vehicle Type and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Automotive Interior Market is projected to reach USD 201.2 billion by 2027 from USD 153.5 billion in 2022, at a CAGR of 5.6% during the forecast period. Technological advancements in current generation automotive interior components increasing customer preference for convenience, premium features, and advanced safety are further expected to drive the Automotive Interior Market. Overall, the changing preferences of buyers, improved standards of living, and focus of OEMs to provide comfort and convenience are also expected to drive the growth of the Automotive Interior Market.

Browse in-depth TOC on "Automotive Interior Market"
379 – Tables
71 – Figures
381 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=10199544

The COVID-19 pandemic has resulted in halted production and plunging sales and has forced the key players in the global automotive field to rethink their strategies. Rescheduling the launch of models and projects, stabilizing dealer networks, managing cash carefully, and reviewing investment portfolios have affected the production and sales of passenger and commercial vehicles across the globe, which has resulted in a dip in the Automotive Interior Market in 2020 and in 2021. The development and implementation of safety features are expected to slow down as well.

HUD segment, by component, is estimated to be the fastest-growing Automotive Interior Market during the forecast period.

The head-up display (HUD) is a device that displays information about the vehicle and the external environment in the driver's field of view. It reduces driver distraction and helps the driver to concentrate on the road. The HUD has become a key advanced driver assistance system. The increasing demand for comfort and safety functions has encouraged auto manufacturers to invest in advanced in-vehicle safety functions. The increasing demand for safety functions is encouraging vehicle manufacturers to develop features for mid-segment and economy segment vehicles too. The HUD market growth can be attributed to the high luxury vehicle production capabilities coupled with high demand for luxury and convenience features.

Passenger car segment, by vehicle type, is estimated to be the largest segment during the forecast period.

Due to increasing customer preference for convenience, premium features, and advanced safety, the passenger car segment is projected to have the largest share of the Automotive Interior Market during the forecast period. Passenger vehicles require high-quality interiors as compared to LCVs and HCVs due to end-user demand. The amount of money spent on quality, comfort, and styling of automotive interiors is much higher in the case of personal use than commercial use. Also, the increased disposable income in developing countries is driving the growth of the Automotive Interior Market for passenger vehicles. 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 luxury and convenience features. Also, government regulations for emissions and safety for passenger vehicles are frequently changing. The manufacturers must reduce the weight of passenger vehicles and offer comfort and safety 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 car interior market.

Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=10199544

Asia Pacific is estimated to be the fastest-growing market for automotive interior in 2022

Asia Pacific is projected to be the fastest-growing market for automotive interiors. Leading automakers in this region, such as Toyota, Honda, and Hyundai, are embracing the advantages of advanced seating systems, lighting, electronics, and various safety systems, making them essential features across their car models. Major countries in this region, such as China, Japan, India, and South Korea, are anticipated to witness the rapid adoption of new technologies. China, due to its high vehicle production capacity, is expected to significantly contribute to the market growth in Asia Pacific. Increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies; and stringent safety regulations across the region are also expected to contribute to market growth.

Key Market Players:

The Automotive Interior Market is dominated by globally established players such as Continental AG (Germany), Faurecia SA (France), Grupo Antolin (Spain), Hyundai Mobis (South Korea), and Magna International Inc. (Canada), Adient (US), Valeo(France), Dräxlmaier Group (Germany) and Panasonic Corporation (Japan).

Browse Related Reports:

Automotive Seats Market by Type & Technology (Heated-Powered, Heated-Ventilated, Heated-Memory, Heated-Ventilated-Memory, Heated-Ventilated-Memory-Massage), Trim & Frame Material, Component, Vehicle (ICE, Electric,OHV) and Region - Global Forecast to 2025

Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-interior-components-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-interior-components.asp