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Automotive Interiors Market: Moving Towards a Brighter Future
Automotive Interiors Market: Moving Towards a Brighter Future

Growing need to increase fuel efficiency, technological advancement, mounting demand for luxurious vehicles, and rising focus on the well-being of drivers have fueled the growth of the global automotive interiors market.

Growing need to increase fuel efficiency, technological advancement, mounting demand for luxurious vehicles, and rising focus on the well-being of drivers have fueled the growth of the global automotive interiors market. On the other hand, growth in the trade war, increase in automotive import tariffs and rise in raw material prices hamper the growth to a certain extent. However, untapped developing in Africa and Asia and advancements in in-vehicle infotainment have created multiple opportunities in the segment. According to a report by Allied Market Research, the global market for automotive interiors was estimated at $171.20 billion in 2017 and is expected to hit $249.78 billion by 2025, growing at a CAGR of 4.7% from 2018-2025. 

The automotive seat segment to maintain its dominance throughout the estimated period

Based on the component, the automotive seat segment registered more than two-fifths of the total market and is expected to dominate during the forecast period. Increase in sales of vehicles and high need for low weight seats for higher fuel efficiency has driven the growth. On the other hand, the interior lighting segment is anticipated to register the fastest CAGR of 7.5% during the study period. This is attributed to variations in trends related to lighting and vehicles signal indication using LED.

The passenger cars segment to lead through 2018-2025

Based on vehicle type, the passenger cars segment garnered the highest revenue in 2017, contributing to more than two-thirds of the total revenue. The rise in demand for passenger vehicles in both emerging and developed countries has driven the growth. The commercial vehicle segment, on the other hand, is projected to register the fastest CAGR of 4.9% through 2018-2025.

Asia-Pacific to maintain its lion’s share during the study period

The Asia-Pacific region garnered the highest share in 2017, accounting for more than one-third share of the global market. High-end technological developments, an increase in the number of passengers and heavy commercial vehicles have spurred the growth. The LAMEA region, on the other hand, is expected to grow at the fastest CAGR of 6.5% throughout the forecast period. This is due to huge untapped markets in the region and expected growth opportunities in Africa.

There is an increase in the technological advancements owing to the rise in demand for attractive, comfortable, and aesthetic features in the automotive vehicles, especially passenger vehicles. However, Faurecia showcased the concept of customizable controls in January 2017 to solve the problem of the bulky dashboard. This is expected to decrease the use of display screens and separate display panels.

Generally, luxurious car brands such as Audi and BMW, offer high-quality equipment, comfort, performance, and technologically innovative automotive interiors. These manufacturers plan to use customizable controls that can easily be integrated into the dashboard materials. The sales of luxurious cars increased worldwide by around 4% from 2016 to 2017.

This rise in demand for luxurious cars is expected to increase the need for innovative automotive interiors solutions. Therefore, these factors are expected to increase the demand for innovative automotive interior solutions.

In July 2018, Chinese car-maker, BAIC, set up an automotive assembly plant in South Africa, which is expected to build 50,000 vehicles by 2022. In addition, in January 2017, Volkswagen South Africa started production at its Kenyan facility in Thika. This provides an opportunity for vendors in the African market.

The dominant key players in this industry have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong stand in the global industry such as Calsonic Kansei Corp., Faurecia Interior System, IAC Group, Robert Bosch, Grupo Antolin, Adient, Yanfeng Automotive Interiors, Hyundai Mobis Company, Lear Corporation, and Visteon Corporation.

Writer, blogger, and tech enthusiast. Holding a master degree in Business Administration and currently working as a SEO Content Writer. I have avid interest in writing news articles across different verticals.
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Automotive Interiors, Automotive Interiors, Automotive Industry, Automotive Industry, Calsonic Kansei Corp., Calsonic Kansei Corp., Visteon Corporation, Visteon Corporation, Yanfeng Automotive Interiors, Yanfeng Automotive Interiors,

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