According to Precedence Research, the global automotive interior market size is projected to worth around US$ 174.2 billion by 2030 from at USD 120.26 billion in 2021, growing at a CAGR of 4.2% from 2021 to 2030.

Tokyo, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The global automotive interior market is primarily driven by various factors such as increased demand for the lightweight vehicles, rising popularity of the autonomous vehicles, increase in the demand for the comfortable interiors, and growing adoption of electric vehicles. The rising disposable income coupled with the rising living standards and increased demand for the luxury vehicles across the globe is surging the growth of the global automotive interior market.

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The technological advancements have resulted in the adoption of various digital screens in the vehicles for various purposes such as live maps and GPS trackers, online music, and online videos. This has contributed significantly towards the growth of the automotive interior market. Moreover, the rising adoption of smart lighting systems and smart seating systems is driving the market growth.

Report Scope of the Automotive Interior Market

Regional Snapshot

Asia Pacific is the largest and the fastest-growing market in the global automotive interior market. The rise in the government initiatives like subsidies and favorable regulatory frameworks to attract the auto manufacturers in the region has made Asia Pacific the top automotive manufacturer around the globe. Therefore, the increased automotive production in this region has spurred the demand for the automotive interiors. The countries like India, china, japan, and South Korea are the major automotive manufacturers in Asia Pacific owing to the availability of cheap factors of production. The rising production of the electric vehicles with advanced autonomous features is further expected to boost the demand for the automotive interiors in the foreseeable future.

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Report Highlights

• Based on the component, the seat segment dominated the market in 2020. This is attributed to the increasing production of passenger vehicles owing to the rising demand for the private vehicles across the globe. Seat is the most important element that is associated with ease and comfort. Therefore, the increased focus of the manufacturers on the manufacturing of comfortable and advanced seats has boosted the growth of this segment during the forecast period.
  
  

• Based on the vehicle type, the commercial vehicle is estimated to be the most opportunistic segment during the forecast period. The growing investment in the industrialization that fosters the demand for the transportation of goods is fostering the growth of the commercial vehicle segment.
  
  

• Based on the material, the glass fiber composite segment dominated the market in 2020. Glass fiber composite offers high impact resistance, low cost, and lightweight, which favors its adoption in the production of wide variety of components like doors, headliners, and dashboards. Hence, it has dominated the market by generating higher revenues.
  
  

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Key Players

The major players operating in the automotive interior market are ContiTech AG, Toyoda Gosei Co., Ltd., GrupoAntolin, Takata Corporation, DraxlmaierGroup, Sage Automotive Interiors, SMS Auto Fabrics, Faurecia S.A., Yanfeng Automotive Interiors, LEAR Corporation, Magna International, Calsonic KenseiCorporation, Hyundai Mobis Co. Ltd., Tachi-S Co. Ltd., and TATA Group.

Market Dynamics

Driver

Rising usage of advanced and lightweight materials in the automotive interiors

According to the experts, around 5% to 7% of the fuel can be saved by implementing a weight reduction of 10% of a vehicle. Therefore, a variety of plastics and other advanced materials are used in the manufacturing of various automotive interior components. The easy availability and suitability of plastics like polyvinyl chloride and acrylonitrile butadiene styrene has enabled the OEMs to manufacture lightweight interior components along with the desired designs and finishing. The low cost, durability, easy availability, and lightweight are the major features of the plastic materials, which is expected to boost the growth of the global automotive interior market.

Restraint

High costs and fluctuating raw material prices

The high costs of the advanced and innovative automotive interiors especially the interior electronic components may hamper the market growth. The rising demand for the more advanced features and improved user experience, the electronics interior components have witnessed a surge in its prices in the past few years. Moreover, the fluctuations in the prices of raw materials of the interiors may hinder the growth of the automotive interior market during the forecast period.

Opportunity

Developmental strategies adopted by the top market players

The top market players are constantly engaged in various developmental strategies such as new product launches, joint ventures, partnerships, and agreements that significantly impacts the market. For instance, in September 2020, Highly International Ltd. and Marelli agreed to form a joint venture named Highly Marelli Holdings that would focus on the development of comfortable and convenient cabin and electrification of HVAC systems and EDC systems in automotive vehicles.

Challenge

Long cycle of production involved

The conceptualization of a standard vehicle starts 4 to 5 years before its production in the manufacturing unit. The development cycle of automotive interiors takes around 2 to 3 years. Therefore, the long production cycles are the major challenges faced by the manufacturers in the global automotive interior market.

• Browse more automotive industry research reports@ https://www.precedenceresearch.com/industry/automotive
  
  

Segments Covered in the Report

By Component

• Heads Up Display

• Headliner

• Center Stack

• Seat

• Instrument Cluster

• Door Panel

• Interior Lighting

• Dome Module

• Adhesives & Tapes

• Rear Seat Entertainment

• Others
  
  

By Vehicle Type

• Passenger

• Commercial

By Material

• Leather

• Vinyl

• Wood

• Fabric

• Metal

• Glass Fiber Composite

• Carbon Fiber Composite
  
  

By Geography

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa (MEA)
  
  

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