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Market Research Report

Automotive Interiors Market - Growth, Trends, and Forecast (2019 - 2024)

Published by Mordor Intelligence Pvt Ltd Product code 356591
Published Content info 70 Pages
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Automotive Interiors Market - Growth, Trends, and Forecast (2019 - 2024)
Published: June 1, 2019 Content info: 70 Pages
Description

Market Overview

The global automotive interiors market is anticipated to register a CAGR of about 6.38% during the forecast period (2019 - 2024).

  • Automotive interiors have played a secondary role to the exteriors in the past but have now become one of the most important considerations for any car buyer.
  • In order to meet the need for creating fuel-efficient and lightweight systems, manufacturers are coming up with a lightweight material to use in the automotive interiors, which is driving the automotive interior market.
  • Due to rising customer expectations and fierce competition, a large number of car manufacturers are offering infotainment systems even in entry-level cars. This, in turn, will boost the infotainment market and as a result, the infotainment systems subcategory will be the fastest growing.
  • Currently, vehicles are equipped with advanced gadgets such as an entertainment system, hands-free connectivity, and global position system (GPS), to enhance the driving experience.

Scope of the Report

The global automotive interiors market has been segmented by component type, vehicle type, and geography.

Key Market Trends

Infotainment System Dominates the Automotive Interior Market

The automotive infotainment system is the largest segment among the automotive interiors market.

A basic infotainment system in a modern vehicle comes equipped with a CD player, a Bluetooth, USB port, lighter port, aux port, video panel, radio, GPS, multiple speakers and control panels.

The role of Infotainment systems in advanced automobiles such as connected cars and autonomous vehicles has been continually increasing with usage in navigation, connectivity, safety, and comfort. The market for infotainment systems will be further strengthened by investment being made by automakers and tech companies. For example, Samsung Electronics Co, Ltd. has announced a strategic partnership with TTTech and has promised to invest around USD 90 million for the development of autonomous and ADAS technologies in which the primary components will be infotainment systems.

Additionally, automakers are competing to deploy advanced infotainment system for their upcoming vehicle models during the forecast period. For instance, Mitsubishi Motors Corporation, Nissan Motor Co. Ltd and Groupe Renault decided to adopt Google Inc.'s Android operating system (OS) for their next-generation infotainment systems from 2021. Additionally, in Japan, Toyota Motor Corporation added software applications, like Line to its T-Connect infotainment system, starting from the new Crown model in 2018.

The European region is expected to be the largest market for automotive infotainment systems due to the presence of manufacturing facilities of the premium automakers, and the fastest growing market for these systems is anticipated to be the Asia-Pacific region as the demand for premium vehicles are continually increasing in China and India, being supported by high economic growth rates in these countries, which are also among the largest automotive markets in the world.

Asia-Pacific - Leading the Automotive Interior Market

The global automotive interior market is led by the Asia-Pacific region, followed by Europe and North America. The automotive industry is growing rapidly as the middle-class population is buying more number of vehicles, which in turn is creating lucrative opportunities for players in the automotive interior materials industry.

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 consumers for vehicles. The demand for premium interiors, comfort, new and innovative features like head-up displays and navigation system along with the growing focus towards sufficing the safety standards is driving the market in the region.

Europe is the hub for the luxury car market in the global scenario, customer's focus on the latest features offered in car interiors and safety systems is a deciding factor that drives the market. Improving automotive sales in countries like Spain, Italy and anticipated recovery of the automotive sector in Russia through government aid, are expected to open up opportunities for the automotive interior market in these countries as well, during the forecast period.

Competitive Landscape

The global automotive interior market is a fragmented and competitive market, consisting of various small as well as medium-sized companies and a couple of big players.

Some of the players are focusing on expanding their geographical presence by acquiring or merging with the regional and country level players. Major investments are being made by companies in foreign markets to cater to increasing demand and expand their business. Expansion and investments are the most preferred growth strategy followed by mergers and acquisitions. Major players are backed by their distribution channels, which have helped them achieve the major shares.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
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  • 3 months of analyst support
Table of Contents
Product Code: 46398

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Industry Attractiveness - Porter's Five Force Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Vehicle Type
    • 5.1.1 Passenger Cars
    • 5.1.2 Commercial Vehicles
  • 5.2 By Component Type
    • 5.2.1 Instrument Panels
    • 5.2.2 Infotainment Systems
    • 5.2.3 Interior Lighting
    • 5.2.4 Body Panels
    • 5.2.5 Others
  • 5.3 Geography
    • 5.3.1 North America
      • 5.3.1.1 United States
      • 5.3.1.2 Canada
      • 5.3.1.3 Mexico
      • 5.3.1.4 Rest of North America
    • 5.3.2 Europe
      • 5.3.2.1 Germany
      • 5.3.2.2 United Kingdom
      • 5.3.2.3 France
      • 5.3.2.4 Rest of Europe
    • 5.3.3 Asia Pacific
      • 5.3.3.1 China
      • 5.3.3.2 Japan
      • 5.3.3.3 India
      • 5.3.3.4 Rest of Asia-Pacific
    • 5.3.4 South America
      • 5.3.4.1 Brazil
      • 5.3.4.2 Argentina
      • 5.3.4.3 Rest of South America
    • 5.3.5 Middle East and Africa
      • 5.3.5.1 United Arab Emirates
      • 5.3.5.2 Saudi Arabia
      • 5.3.5.3 South Africa
      • 5.3.5.4 Iran
      • 5.3.5.5 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Adient plc
    • 6.2.2 Grupo Antolin
    • 6.2.3 Panasonic Corp
    • 6.2.4 Faurecia
    • 6.2.5 Magna International
    • 6.2.6 Toyota Boshuku Corporation
    • 6.2.7 Hyundai Mobis Co.
    • 6.2.8 Pioneer Corporation
    • 6.2.9 JVCKENWOOD Corporation
    • 6.2.10 Robert Bosch GmbH

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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