Automotive Interior Market to Reach $301.5 Billion by 2022: Rising Demand For Cabin Comfort & Convenience Driving Growth

The automotive interior market is projected to grow at a CAGR of 5.06% from USD 235.59 Billion in 2017 to USD 301.56 Billion by 2022. The increase in demand for premium segment vehicles with advanced styling and rising demand for cabin comfort and convenience led to the growth of this market. The automotive seat segment is estimated to register the largest share of the automotive interior market by component, in terms of value. The average distance traveled by passengers has increased over the years, and thus the need for comfort and convenience has increased substantially. Consumers now have higher disposable income and are willing to spend more on the travel and comfort. These factors have positively impacted the growth of the automotive interior market. Infotainment systems are estimated to be the fastest growing market in terms of value. Some of the infotainment systems provide time and temperature display, features such as navigation and more. The type of displays being used for...

The automotive interior market is projected to grow at a CAGR of 5.06% from USD 235.59 Billion in 2017 to USD 301.56 Billion by 2022. The increase in demand for premium segment vehicles with advanced styling and rising demand for cabin comfort and convenience led to the growth of this market.

The automotive seat segment is estimated to register the largest share of the automotive interior market by component, in terms of value. The average distance traveled by passengers has increased over the years, and thus the need for comfort and convenience has increased substantially. Consumers now have higher disposable income and are willing to spend more on the travel and comfort. These factors have positively impacted the growth of the automotive interior market. Infotainment systems are estimated to be the fastest growing market in terms of value. Some of the infotainment systems provide time and temperature display, features such as navigation and more. The type of displays being used for infotainment system may vary depending upon the cost of the vehicle, for example, a basic infotainment system can be used in economy cars while advanced displays are used for premium cars.

The Passenger Vehicle (PV) segment is estimated to be the largest automotive interior market, by vehicle type, in terms of value. The quality of automotive interior components being perceived by a consumer is much higher in the case of PVs in comparison with commercial vehicles. In general, consumers are willing to spend more on vehicles for personal use than commercial use. The large number of PVs compared to commercial vehicles also adds to the growth of this market.

Some of the key factors restraining the growth of the automotive interior market are high cost and increased power consumption of automotive interior components. The prices of advanced automotive interior components have decreased in the past few years. However, advanced automotive interior electronics components are still at a higher price range. Hence, these are presently offered only in high-end luxury cars. However, some of the mid-priced passenger vehicles are generally equipped with the basic electronic interior systems such as infotainment display and a digital/analog instrument cluster.

Companies Mentioned

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Technological Overview

7 Global Automotive Interior Market, By Vehicle Type

8 Automotive Interiors Market, By Component

9 Automotive Interior Market, By Region

10 Competitive Landscape

11 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/njn9qd/automotive

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