Automotive Interior Components Market – Global Industry Analysis and Forecast (2022-2029)

Automotive Interior Components Market is expected to reach US$ 304.07 Bn. by 2029, with a CAGR of 4.8% between 2022 and 2029.

Interior components for automobiles are specifically developed to provide comfort, grip, and sound insulation to the vehicle cabin, as well as enhanced driver safety features. The infotainment system, body panels, headliners, cockpit modules, door panels, and automotive seats, among other things, make up the interior of the car cabin. The interior components of a vehicle play an important role in improving its performance, giving it a more appealing appearance, and increasing its saleability. Furthermore, the inside of a car is the first and most important component that determines a buyer's judgment of its quality.To know about the Research Methodology:- Request Free Sample Report

In the report, 2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Automotive Interior Components Market Dynamics
Individuals' income levels are rising, and consumers' disposable income is fast rising. In addition, there is a rising prevalence of customization in automobiles from emerging countries, such as interior lighting systems, instrument cluster telematics, and audio systems, among others. Is likely to fuel market growth. Although the cost of advanced automotive interior components has fallen in recent years, the cost of modern automotive interior electronics components remains high. As a result, these are now exclusively available in high-end luxury vehicles.

Fluctuating raw material prices, as well as the growing demand for significant power in automobile interior electronics, would likely function as market limitations for the automotive interior's growth in the forecast period. Increasing the production cycle time will be the biggest and most significant challenge for the market's growth.
Automotive Interior Components Market Segment Analysis
The market for automobile interior components is divided into two segments: passenger and commercial vehicles. Because of rising individual income levels and rising acceptance of entertainment systems in passenger vehicles such as SUVs and sedans, the passenger vehicle sector accounted for the biggest market share in 2021 and is expected to grow significantly over the forecast period. The commercial vehicle segment is expected to grow rapidly during the forecast period, owing to an increase in commercial activities, which will support the growth of the automotive interior components market.

Small SUVs are the market's largest segment, with a forecast market volume of US$542,867.6 million in 2022. In 2029, the market for passenger cars is expected to reach 71,466.16K vehicles. Toyota is expected to have one of the largest market shares in 2022, with a car unit sales share of 9.5 percent. From a global viewpoint, the United States is expected to earn the most income (US$553,968 million in 2022).

Covid-19 Impact on the Market:

Due to its impact on vehicle production, the COVID-19 epidemic has slowed the growth of the automobile interior components market. However, a sustained rebound in car production after 2021 will assist the market's growth in the future years. In the first two quarters of 2021, for example, COVID-19 had a substantial impact on Marelli's overall production. Following the nationwide lockdown, which began in March 2021, the corporation was forced to close its operations throughout the country for almost two weeks. However, in April 2021, the company resumed operations after taking the appropriate precautions. Consumers' growing safety concerns, a growing number of technical developments, and a surge in demand for premium automobiles are all projected to drive market expansion. Lightweight and environmentally friendly products receive government assistance.
Automotive Interior Components Market Regional Insight
Because of the economic feasibility of premium vehicles, the heavy reliance on automobiles for personal transportation, and the implementation of rigorous fuel-economy regulatory criteria, North America is likely to account for the majority of the global automotive interior components market share.

Due to advancements in in-vehicle infotainment, rising demand for passenger vehicles, consumers' willingness to spend on premium interiors, and a significant increase in the number of manufacturing facilities in this region, the market in Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.

Report Objectives:

• Landscape analysis of the Automotive Interior Components Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• The potential impact of micro-economic factors on the market
• External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Automotive Interior Components Market dynamics, structure by analyzing the market segments project the Automotive Interior Components Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Interior Components Market make the report investor’s guide.
Automotive Interior Components Market Scope: Inquire before buying



 Automotive Interior Components Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 208.97 Bn


Forecast Period 2022 to 2029 CAGR:
4.8 %
Market Size in 2029:
US$ 304.07 Bn.


 Segments Covered:
by Vehicle Type
• Passenger Cars
• Commercial Vehicles


by Components Type
• TInstrument Panels
• Infotainment Systems
• Interior Lighting



Automotive Interior Components Market by Region
• North America
• Europe
• Asia pacific
• The Middle East and Africa
• South America
Automotive Interior Components Market Key Players
• Toyota Boshoku Corporation
• Johnson Controls
• Lear Corporation
• Faurecia SA
• Toyoda Gosei Co., Ltd.
• Magna International
• Continental AG
• Delphi
• NTF India Pvt Ltd
• Sage Automotive Interior Components. Inc
• BASF Automotive Solutions
• DK Leather Corporation Berhad
• Grupo Antolin
• Covestro AG
• Adient Plc
• Borealis AG

Frequently Asked Questions:

1. Which region has the largest share in Global Automotive Interior Components Market?
Ans: North America region held the highest share in 2021.

2. What is the growth rate of Global Automotive Interior Components Market?
Ans: The Global Automotive Interior Components Market is growing at a CAGR of 4.8% during forecasting period 2022-2029.

3. What is scope of the Global Automotive Interior Components market report?
Ans: Global Automotive Interior Components Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Automotive Interior Components market?
Ans: The important key players in the Global Automotive Interior Components Market are – Toyota Boshoku Corporation, Johnson Controls, Lear Corporation, Faurecia SA, Toyoda Gosei Co., Ltd., Magna International, Continental AG, Delphi, NTF India Pvt Ltd, Sage Automotive Interior Components. Inc, BASF Automotive Solutions, DK Leather Corporation Berhad, Grupo Antolin, Covestro AG, Adient Plc, and Borealis AG

5. What is the study period of this market?
Ans: The Global Automotive Interior Components Market is studied from 2021 to 2029.