Reports Description
According to Custom Market Insights (CMI), The Global Global Automotive Interior Accessories Market Size was valued at USD 153.5 billion in 2021 and is estimated to reach USD 201.2 billion by the end of 2030 at a CAGR of approximately 5.6% during the forecast period 2022-2030.
As consumers demand premium features and convenience, the market for automotive interior accessories or components is expected to grow well during the forecast period. There’s a growing demand for advanced safety editing expected to be a driving force for the market’s growth in the coming years to provide better efficiency and comfort. Still, the customer’s manufacturers are using advanced and lightweight materials to provide a premium finish to the interior components.
There’s also an increased provision for connectivity which will help the market’s growth in the coming years. Advanced lighting and better functionalities are other reasons why the market is expected to grow in the coming years. There’s a growing need for modular seats in the SUV, which is expected to play an extremely significant role in the market’s growth in the coming years.
Even though the interior components used in the cars that various organizations manufacture have been provided with advanced components and the prices of these components have also reduced in recent years, the electronic components are expensive. These components have high demand, but since these components are expensive, market growth will be hindered. With the growing demand for a Luxurious experience and an increasing demand for features that provide better convenience to the passengers, the demand for electronic systems is expected to grow in the coming years as the electronic components are higher cost than the usual large scale in the luxury cars.
Various seat arrangements that provide reclining and adjustments will help in the growth of the market in the coming years period the growing demand for infotainment and show controls. Climate control and massaging seats are also in good demand, and these features will help in the growth of the market in the coming years period all of these features are available in all luxury cars or premium cars, and it is expected to prayer an instrumental role in the growth of the market in the coming years. All of these features and comfortable seat adjustments are currently provided only in luxury cars of the premium cars, which will hamper the market growth and restrain the growth of the advanced and innovative components.
The outbreak of the COVID-19 pandemic affected most industries across the world. The manufacturing of cars and reduced to a great extent due to the disrupted supply chains and logistics. Shortage of raw materials had also hampered the production of automotive’s to a great extent. Automotive sales had reduced during the pandemic, but the market has bounced back with better sales and is expected to grow in the coming years.
The demand for automobiles has grown well in the Asia Pacific region and will continue to increase. The demand for premium or luxury cars has also increased for various nations in the Asia Pacific region due to rapid urbanization and industrialization. The strategic partnership between the major market players to seek expansion of the market will enter into various developing regions across the globe to increase its consumer base.
Growth Factors
Constant research and development activities in the automotive industry have provided advanced technologies and new materials for enhancing the interiors of the automotive’s to a great extent. These advancements have played an instrumental role in providing comfortable interiors for various automotive’s. Using materials that help reduce the weight of various components has played a very important role in manufacturing the seeds of various vehicles.
These research and development activities have provided lightweight materials for all the interiors of various automotive’s as we manufacturers focus on keeping the weight of the cars less. Using these lightweight materials in making various interior parts will play an extremely important role in the market’s growth as it will improve the efficiency of the vehicles. It will also help in saving the cost incurred on fuel David, most of these advanced materials provided in the market are the variance of plastic, and the original equipment manufacturers make use of this plastic material for designing their interiors to provide a premium finish. For manufacturing the instrumental panels and the door so various vehicles, polyvinyl chloride is used extensively. The production cost of dashboards with the help of ABS Is lower, and it’ll play an extremely important role in the market’s growth in the coming years. Four different types of vehicles’ different finishes are used and provided by the original equipment manufacturers. Also, the type of vehicle decides the seats and the dashboard.
The demand for plastics that or lower in cost is preferred by the original equipment manufacturers for the sensitive markets. These plastics are used on a large scale to produce the interior of various automotive’s. But when it comes to the manufacturing of premium cars, good quality plastics or higher quality are used by the manufacturers. The availability of various options with different costs will drive market growth in the coming years.
The demand for advanced integrated technologies is expected to grow in the coming years period the demand for autonomous vehicles has also increased in various developed regions across the world. The preference for these autonomous vehicles over traditional vehicles will also drive the market growth for the interior components of various automotive’s in the coming years. The features like the driverless mode, which is provided in autonomous vehicles, require an expensive interior. The growth of autonomous vehicles is expected to be good in the coming years. Most market players like Toyota, Mercedes-Benz, Ford, BMW, and Audi constantly engage in developmental activities to provide autonomous cars.
Segmental Insights
- The automotive interior components market segment is based on the Component
Based on components, the seat segment is expected to have the largest market share in the coming years period the segment has dominated the market in the past for commercial as well as passenger vehicles on a large scale. The demand for comfortable and adjustable seats has driven the market growth in recent years to provide enhanced comfort for travelers.
Growing demand for luxury is expected to help the growth of the market by generating more revenue. Seeds provide an enhanced experience to the passengers as well as the drivers. Research and development in the automotive industry have provided innovative and intelligent adjustments for seatings we should play an instrumental role in the market’s growth.
The introduction of smart seats that help detect the head-tilting respiration rate, heart rate, and facial expressions of the driver will be extremely important for ensuring the safety of the passengers and drivers by analyzing the drowsiness and stress experienced by the driver.
- The automotive interior components market segment is based on the Material Type
Based on the type of material used in the manufacturing of interiors of a luxury car, premium cars include glass fiber, and this product is expected to have the greatest demand in the coming days. It is used in the manufacturing of dashboards and doors. This glass fiber composite is also used for insulation purposes. The various benefits of using this product will create more demand for beards. The product is light in weight, less in cost, resistant to high impacts, and less brittle. It is used on a large scale in the door and instrumental panels.
- The automotive interior component market segment is based on the types of Vehicle
Based on the type of vehicles, passenger cars are expected to have the largest market share in the coming years. The demand for comfort and luxury in passenger cars is higher than in the other segments. Increased disposable income and rapid urbanization will play an extremely important role in the market’s growth in the coming years.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 153.5 Billion |
| Projected Market Size in 2030 | USD 201.2 Billion |
| CAGR Growth Rate | 5.6% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Denso (Japan), Panasonic (Japan), Pioneer (Japan), Robert Bosch (Germany), Continental (Germany), Faurecia (France), Hyundai Mobis (South Korea), and Others |
| Key Segment | By Component, Material, Vehicle Type, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
The Asia Pacific region is expected to grow with the highest compound annual growth rate during the forecast period. The production of vehicles in the Asia Pacific region has grown in recent years, and there is also a great demand for luxury and comfort in the vehicles, due to which the market is expected to grow in the coming years.
The demand for the interiors in various vehicles has grown in the Asia Pacific region, specifically for economic cars. The new technologies will be adopted in India, Japan, South Korea, and China. These countries will have a major impact on the market’s growth in the coming years as these countries have a population that will adopt advanced lighting, electronics, and comfortable seating.
Key Players
- Denso (Japan)
- Panasonic (Japan)
- Pioneer (Japan)
- Robert Bosch (Germany)
- Continental (Germany)
- Faurecia (France)
- Hyundai Mobis (South Korea)
Recent Development
- Add an innovative solution for display in 2021 by Continental, which was introduced as ShyTech display. This innovative display provides the driver with all the significant information during the travel time, which is significant for safety.
- To enhance the features provided by the ADAS system, horizon robotics and continental entered into a partnership in the year 2021. This system shall be offered with sensors, radars, and antennas.
- A collaboration between Mahindra and Mahindra and Robert Bosch will be instrumental in providing or connected platform for the vehicles, known as AdrenoXconnect With this platform, users will have access to better connectivity and enhanced experience.
Segments covered in the report
By Component
- Center Stack
- Head-Up Display
- Instrument Cluster
- Rear Seat Entertainment
- Dome Module
- Headliner
- Seat
- Interior Lighting
- Door Panel
- Adhesives & Tapes
- Others
By Material
- Leather
- Fabric
- Vinyl
- Wood
- Glass Fiber Composite
- Carbon Fiber Composite
- Metal
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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