Automotive Interior Market Expansion Projected to Gain an Uptick During 2020-2030

The automotive interior market was valued at around USD 215.3 billion in 2019, and is expected to reach USD 384.6 billion by 2030, with a CAGR of 5.3% during the forecast period.

Automotive interiors are specially designed to enhance the comfort in vehicle cabin along with enhanced safety & security. The interior consists of several components such as door panels, cockpit module, infotainment systems, automotive seats, and many more. The interiors are one of the most important features as they enable to influence the consumer perception about quality & performance of the vehicle followed by additional comfort. The interiors are designed from the driver’s point of view, which simplifies the driving and enhances the overall experience. The recent advancement also provide driver seat with sensors that detect the stress level & take required actions in several ways.

The global automotive interior market is segmented on the basis of component, vehicle type, and region. Based on component, the market is classified into flooring, cockpit module, door panel, interior lighting, automotive seat, and other. On the basis of vehicle type, the market is bifurcated into passenger car and commercial vehicle. Region wise, the market is studied across North America, Europe, Asia-Pacific, and RoW, which are further segmented into major countries such as U.S., UK, France, and others.

The automotive interiors market is primarily driven by the ongoing expansion of automotive industry, owing to the large population base and rise in disposable income. There has been steady technological development along with the growth in demand for premium vehicles providing advanced features such as wireless connectivity, voice command, in-built GPS, sensors & others. The rapid adoption of advanced technology by market players supported by rise in investment and enhanced safety are expected to boost the automotive interior market growth. In addition, rapid development in infrastructure and integration of advanced technology such as IoT and AI are some of the crucial factor strengthening the market demand for automotive interiors. Likewise, advancements in in-vehicle infotainment along with rapid use of advanced gadgets for better convenience is expected to augment the market growth. However, high cost of raw materials as well as high automotive import tariffs is anticipated to hinder the automotive interior market growth.

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The developed regions including North America and Europe are expected to account for a major market share, owing to the presence of developed infrastructure and increase in technological advancement. In addition, surge in market investments followed by rise in demand for premium vehicles are likely to create a positive impact on the market in these regions. Asia-Pacific is expected to dominate the automotive interior market in terms of growth rate, owing to rapid expansion of the automotive industry as well as rise in demand for passenger vehicles.

The key players profiled in the automotive interior market include Calsonic Kansei Corp., Adient, Faurecia Interior System, Hyundai Mobis Company, Grupo Antolin, IAC Group, Robert Bosch, Lear Corporation, Yanfeng Automotive Interiors, and Visteon Corporation.

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