Press release
Automotive Interior Market is on an Upward Growth Curve
According to the latest research by InsightAce Analytic, the Global Automotive Interior Market is valued at US$ 146.98 Bn in 2022, and it is expected to reach US$ 223.72 Bn by 2031, with a CAGR of 4.9% during a forecast period of 2023-2031.
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The interior of a vehicle plays a pivotal role in capturing consumer interest and enhancing overall satisfaction. Consequently, the careful selection of materials-such as plastics, composites, wood, textiles, and rubber-is essential to ensure both comfort and aesthetic appeal. The expansion of the automotive interior market is being driven by several key factors, including the need to improve fuel efficiency, rapid technological advancements, rising demand for premium vehicles, and an increasing focus on driver and passenger well-being.
Furthermore, significant market growth is anticipated from emerging economies, which offer considerable untapped potential. Advancements in in-vehicle infotainment systems have further contributed to the expansion of the market in these regions. Collectively, these developments are expected to drive demand for innovative and high-quality interior solutions, supporting sustained growth in the automotive interior segment.
List of Prominent Players in the Automotive Interior Market:
• Forvia Faurecia
• Yanfeng
• Antolin
• Samvardhana Motherson Group (Smp Deutschland Gmbh)
• Toyota Boshoku Corporation
• Continental Ag
• Lear Corporation
• Robert Bosch Gmbh
• Hyundai Mobis
• Adient Plc.
• Denso Corporation
• Zf Friedrichshafen AG
• Panasonic Holdings Corporation
• Valeo
• Draxlmaier
• Nippon Seiki Co., Ltd.
• Yazaki Corporation
• Alps Alpine Co., Ltd.
• Jvckenwood Corporation
• Renesas Electronics Corporation
• Toshiba Corporation
• Japan Display, Inc.
• Mitsubishi Electric Corporation
• Texas Instruments
• Nvidia Corporation
• Magna International Inc.
• Harman International
• Saint-Gobain
• Pioneer Corporation
• Tomtom International
• Visteon Corporation
• Fujitsu Limited
• Ford Motor Company
• General Motors
• Audi AG
• BMW AG
Market Dynamics:
Drivers-
The rapid expansion of the electric vehicle (EV) market is a significant factor driving demand for automotive interior materials. As environmental concerns intensify and fossil fuel reserves continue to decline, the global shift toward electric mobility is accelerating. To enhance energy efficiency and reduce charging durations, electric vehicles are increasingly manufactured using lightweight materials such as plastics and composites.
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Challenges:
Stagnant or slow growth in key global automotive markets has impeded the expansion of the automotive interior materials sector in recent years. In addition, evolving emission regulations-including Bharat Stage VI (India), Euro 6, and other global standards-have presented significant challenges for automotive manufacturers. These regulatory shifts and disruptions have contributed to a more restrained growth outlook for the automotive interior materials market during the forecast period.
Regional Trends:
North America is expected to account for a substantial share of the automotive interior materials market and is projected to experience steady growth in the coming years. Simultaneously, rapid economic development in emerging markets such as India, China, Taiwan, and Thailand has led to an expanding middle class, encouraging automotive manufacturers to establish production facilities in regions such as Asia and Africa. This allows companies to meet rising local demand while benefiting from lower production costs and supporting global exports.
Moreover, increasing adoption and sales of electric vehicles in North America are anticipated to further propel market growth, driven by a steadily advancing automotive sector and supportive infrastructure for EVs.
Recent Developments:
• In March 2022, Uniphy and Grupo Antolin developed smart surfaces for next-generation in-car user interfaces. Grupo Antolin merged innovative decorative and lighting technologies with Uniphy's CanvyaTM smart-surface solutions to create functional, attractive, safe, and cost-effective 3D touch-control surfaces.
• In Dec 2019, Bosch unveiled a new interior monitoring system equipped with cameras and artificial intelligence with the intention of enhancing driver and passenger safety. A camera incorporated into the steering wheel detected when a driver's eyelids became droopy, when they were distracted, and when they turned their head towards their passenger or the rear of the vehicle.
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Segmentation of Automotive Interior Market-
By Component Type-
• Center Stack
• Head-up Display
• Instrument Cluster
• Rear Sear Entertainment
• Dome Module
• Headliner
• Seat
• Interior Lighting
• Door Panel
• Center Console
• Adhesives & Tapes
• Upholstery
• Others
By Material-
• Leather
• Fabric
• Vinyl
• Wood
• Glass Fiber Composite
• Carbon Fiber Composite
• Metal
By Level of Autonomy-
• Semi-Autonomous
• Autonomous
• Non-Autonomous
By Electric Vehicle-
• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
By Passenger Car Class-
• Economic Cars
• Mid-Segment Cars
• Luxury Segment Cars
By ICE Vehicle Type-
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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