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The Global Automotive Interior Components Market Is Estimated To Register A CAGR Of 5.11% Over The Forecast Period

Jan 7, 2021 5:05 PM ET

Market Overview

in its newly released research report, Market Research Future (MRFR), insists that the global automotive interior components market is booming. The Global Automotive Interior Components Market is estimated to register a CAGR of 5.11% over the forecast period

Drivers and Restraints

The growth of the market is driven by the growing income level of individuals, dynamic competition in the automotive sector, as well as the seamless growth of the automotive industry, whereas it is hampered by the capital-intensive market. there has been a rising interest in the comfort and convenience features offered by vehicles. This has led to the development and incorporation of innovative technologies that decrease human effort and amplifies comfort as well as aesthetics. The OEMs are incorporating these technologies in vehicle interiors to enhance the overall consumer satisfaction levels and to remain competitive in the global automotive interior market. 

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Segmental Analysis

The global market for automotive interior components has been segmented based on component, vehicle type, and region.

On the basis of vehicle type, the automotive interior components market is bifurcated into passenger and commercial vehicles. The passenger vehicle segment accounted for the largest market share in 2018 and predicted to exhibit significant growth over the review period due to a rise in individual income levels and the rising adoption of the infotainment system in passenger vehicles such as SUV and cars. The commercial vehicle segment accounts for nearly 35% of global vehicle manufacturing. With the increase in commercial activities, the commercial vehicle segment is poised to witness a rapid rise through the forecast period, which in turn drives the growth of the automotive interior components market during the forecast period.

Based on the component, the automotive interior components market is segmented into infotainment, instrument cluster, telematics, flooring, interior lighting, and automotive seat. In 2018, the infotainment segment led the market and was slated to grow at the highest CAGR during the forecast period. The infotainment system in automobiles held a significant market share with 24%. The rising incidence of customization in automotive has resulted in the infotainment segment registering high growth during the forecast period. 

Regional Analysis

The geographic analysis of the global automotive interior components market has been carried out in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (including Latin America, the Middle East, and Africa). The Asia-Pacific region is leading the global market, owing to the increasing income levels of individuals and rapidly rising disposable income among the consumers. Additionally, increasing incidence of customization in automobiles such as interior lighting systems, instrument cluster telematics, and audio systems, among others from developing countries like China and India, is likely to drive the market growth.

North America is known for rapidly adopting the latest technologies, owing to the rapidly increasing GDP and high employment rate. This region has witnessed seamless growth in the demand for electric vehicles in the past few years. In North America, the sale of electric cars has doubled since 2014, which implies that the need for electric cars has risen at a rapid pace. This demand for electric vehicles will drive the growth of the automotive interior components market across the US, Canada, and Mexico.

Europe is slated to witness significant growth in the global automotive interior components market. The augmented focus of government authorities and manufacturers on the “European Way Of Future Mobility” is slated to fuel the growth of the automotive industry, which consequently will boost the growth of the automotive interior components market in the region.

The rest of the world (RoW) comprises of the Middle East & Africa and Latin America. The growing presence of major automobile makers will raise the demand for automotive interior components in the region.

Competitive Analysis

The top market players operational in the global automotive interior components market as identified by MRFR are Toyota Boshoku Corporation, Johnson Controls, Lear Corporation, Faurecia SA, Toyoda Gosei Co., Ltd., Magna International, Continental AG, and Delphi.

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Key Questions Addressed by the Report

  • What was the historic market size?
  • Which segmentation (Product/ Capacity) is driving market?
  • What will be the growth rate?
  • How are the key players in this market?
  • What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com

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