Rise in demand for passenger and commercial vehicles in developing and developed countries are major drivers of the global automotive interiors market. The need for infotainment and the upcoming trends of variations in lighting and vehicles signal indication through LED is likely to boost the automotive interiors market in the near future.
According to the report, the global automotive interiors market was pegged at $17.1 billion at 2017 and is expected to manifest $29.35 billion by 2025, registering a CAGR of 4.7% from 2017 to 2025.
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Focus on the overall better driving experience is causing growth in the market. However, cold trade war, high import duties, expensiveness of raw materials, and low fuel efficiency of vehicles are some challenges hindering the growth of the global automotive interiors market.
The global automotive interiors market is segmented into vehicle type, component, and region. The vehicle type is bifurcated into passenger cars and commercial vehicles, which is further categorized in light and heavy vehicles. The passenger car segment held the largest share in 2017, accounting for over half of the market share.
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Based on component, the market is classified into an automotive seat, cockpit module, door panel, flooring, interior lighting, and others. The automotive seat segment dominated the market in terms of revenue in 2017, contributing nearly half of the total share. However, the interior lighting segment is projected to manifest the fastest CAGR of 7.5% during the forecast period.
Geographically, Asia Pacific held the largest share in automotive interiors market in 2017, due to continuous developments, rising production of passenger and heavy commercial vehicles, high adoptive rate for infotainment, and better standards of driving experience. Untapped developing markets of Africa and Asia provide huge growth opportunities for the market leaders and stakeholders.
The report is inclusive of the key players operating in the global automotive interiors market. They include Adient, Calsonic Faurecia Interior System, Kansei Corp., Grupo Antolin, Hyundai Mobis Company, IAC Group, Lear Corporation, Robert Bosch, Visteon Corporation, and Yanfeng Automotive Interiors.
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