The Global Automotive Interior Components Market was valued US$ 890.34 Mn in 2019 and is expected to reach US$ 2213.5 Mn by 2027, at a CAGR of 12.06% during a forecast period.
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 important growth over the review period due to a rise in individual income levels and the rising acceptance of the infotainment system in passenger vehicles such as SUV and cars. 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.
Global Automotive Interior Components Market Dynamics:
With an 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. Is likely to drive the market growth. The prices of advanced automotive interior components have decreased in the past few years, but advanced automotive interior electronics components are still at a superior price range. Hence, these are presently accessible in only high-end luxury cars.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Automotive Interior Components Market, Segment Analysis:
Depending upon the segments market is segmented into by Vehicle type. Passenger Cars, Commercial Vehicles. Passenger car segment is dominating as the customers wisely choose interior components. Automotive Components sales increased XX%, which was primarily driven by cars and heavy goods carriers’ vehicles. By Application it is further classified as Instrument Panels, Infotainment Systems, Interior Lighting, The infotainment system in automobiles held a significant market share with XX%.
Global Automotive Interior Components Market, Regional Analysis:
Region-wise, APAC region held the dominant position in the global mechanical keyboard market and is projected to continue its dominance during the forecast period. An increase in the availability of improved interior components in the market is expected to grow in US $ XX Mn in the market. In Asia-Pacific, government initiatives, such as subsidies and tax concessions, across various countries are attracting the automotive OEMs to build their manufacturing plants in the region. China is one of the largest consumer of vehicles. The demand for premium interiors, comfort, and new and innovative features, like head-up displays and navigation system, along with the growing focus toward sufficing the safety standards, is driving the market in the region.
USA market growth will sustain in forecast period and will dominate the North America market. This region is swiftly adopting the latest technologies, outstanding 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.
Report has covered each region and its analysis is done by keeping respective region’s customer behaviour while buying the vehicles. Bottom up approach while analysing and forecasting the market make this report more accurate as far as demands in each region are concerned.
Global Automotive Interior Components Market: Objective
The objective of the report is to present a comprehensive analysis of Global Automotive Interior Components Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive Interior Components Market dynamics, structure by analysing the market segments and project the Global Automotive Interior Components Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Interior Components Market make the report investor’s guide.
The Scope of the Report for Global Automotive Interior Components Market
Global Automotive Interior Components Market, By Vehicle Type
• Passenger Cars
• Commercial Vehicles
Global Automotive Interior Components Market, By Components Type
• Instrument Panels
• Infotainment Systems
• Interior Lighting
Global Automotive Interior Components Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Automotive Interior Components Market
• Toyota Boshoku Corporation,
• Johnson Controls,
• Lear Corporation,
• Faurecia SA,
• Toyoda Gosei Co., Ltd.,
• Magna International,
• Continental AG
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