Automotive Interiors Market Size is projected to reach USD 186 Billion by 2030, growing at a CAGR of 5%: Straits Research

The global automotive interiors market size was valued at USD 126 billion in 2021. It is estimated to reach USD 186 billion by 2030, growing at a CAGR of about 5% during the forecast period (2022–2030). Asia-Pacific accounts for the largest market share and is estimated to grow at a CAGR of 5.1% during the forecast period.

| Source: Straits Research Straits Research

New York, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The interior of a car, which includes components such as headliners, cockpit modules, door panels, and automotive seats, is designed to provide comfort, grip, and sound insulation for the vehicle cabin. The interior trim, upholstery, and other accessories have a crucial impact on a car's marketability. In addition, the inside of a car is the primary aspect that determines a buyer's sense of a vehicle's quality. In the past, automotive interiors played a secondary role in the market, but now they are one of the most significant factors for any car buyer to consider.

To address the demand for fuel-efficient and lightweight systems, manufacturers are designing lightweight materials for use in automobile interiors, driving the market for automotive interiors. Due to rising customer expectations and intense competition, many automakers are including infotainment systems in even the most affordable vehicles. In turn, this may boost the infotainment market, and as a result, the subcategory of infotainment systems is anticipated to grow the quickest.


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Utilization of Lightweight and Modern Materials Propel the Market for Automotive Interiors

The advent of new materials and cutting-edge technologies has enabled automakers to reduce vehicle weight and create more comfortable interiors. The seating system is primarily responsible for weight reduction in car interior components. Adient is one of the several vendors specializing in lightweight interior development and provision. Lightweight materials are highly advantageous for improving vehicle efficiency. According to industry experts, a 10% reduction in weight can save approximately 5–7% of fuel.

In addition, OEMs have access to several plastic choices for use in interiors. For example, polyvinyl chloride (PVC) is frequently employed in the production of automobile doors and instrument panels. Acrylonitrile butadiene styrene (ABS) is commonly used in dashboards and has a low cost of production. OEMs have also begun utilizing varied finishes for dashboards and seats depending on the vehicle class. In cost-sensitive vehicle markets, original equipment manufacturers favor low-cost polymers and interior finishes. On the other hand, premium automobile manufacturers favor polymers and finishes of superior quality. Options for OEMs and suppliers will drive the vehicle interior market.

Growing Penetration of Larger Displays Create Lucrative Market Opportunities

Automobile manufacturers are experimenting with the size and number of screens, as the upcoming main models have been created with a more significant number of screens. In recent years, the infotainment system has advanced significantly. On the market, various vehicles with large screens have been introduced. Mercedes' new 2021 S-Class will be loaded with screens (the central unit will be a 12.8-inch OLED screen with haptic feedback).

The new vehicle has replaced several physical buttons in the previous model with controls that are now shown on screens throughout the cabin. In addition to its greater processing power, unique pixels for extraordinary clarity, and compatibility with swipes, gestures, and voice commands, this display also features biometric security. The development of new infotainment systems will coincide with an increase in the size and number of screens. As more autonomous vehicles enter the market, many individuals will favor the vehicle with the largest screen and superior entertainment system. Consequently, the demand for infotainment systems may expand during the forecast period.


Report Scope

Report Metric Details
Market Size USD 186 Billion by 2030
CAGR 5% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Vehicle Type, Component Type,
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Adient PLC, Grupo Antolin, Panasonic Corp., Faurecia, Magna International, Toyota Boshuku Corporation, Hyundai Mobis Co., Pioneer Corporation, JVCKENWOOD Corporation, and Robert Bosch GmbH.
Key Market Opportunities Increasing Penetration of Larger Displays        
Key Market Drivers A Range of Lightweight, Cutting-edge Materials, and a Creative Finish

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Regional Insights

Asia-Pacific accounts for the largest market share and is estimated to grow at a CAGR of 5.1% during the forecast period. The automobile sector is undergoing a tremendous shift, and China is one of the primary forces driving this transformation. The local automakers are creating electric vehicles for shared mobility to meet the future needs of the roadways. In addition, Japan is anticipated to lead the world in deploying advanced interiors in automobiles during the projection period due to a large number of top players and automakers.

Europe is estimated to generate USD 40 billion by 2030, growing at a CAGR of 5.1%. Volkswagen, BMW, Daimler, and Groupe PSA supply around two-thirds of the automobiles sold in the United Kingdom. Approximately 80% of British-made automobiles are exported, with 54% going to the European Union. Major automakers on the market are exploring new technologies and materials to provide customers with the greatest interior experience possible and to maintain a competitive advantage. The country's leading automakers are releasing new models with modernized and feature-rich interiors. The automotive interiors market is heavily reliant on vehicle production and sales.

North America is the third-largest region. The nation's leading manufacturers are investing in the development of their facilities and in cutting-edge technologies to ensure that their vehicles are future-ready and provide customers with the most refined driving experience possible. For example, The International Automotive Components Group North America Inc. (IAC) announced in October 2020 its intention to invest more than USD 55.9 million in expansion projects at two Alabama locations. The plant may create door panels and overhead systems for original equipment manufacturers. General Motors revealed in 2019 its intention to offer a new in-car technology for the following vehicles. In 2021, the business intended to include Google's Voice Assistant, Navigation, and App Ecosystem into GM's infotainment systems. The rising number of electric automobiles in the United States is driving domestic demand for interior items.


Key Highlights

  • The global automotive interiors market size was worth USD 126 billion in 2021. It is estimated to reach USD 186 billion by 2030, growing at a CAGR of about 5% during the forecast period (2022–2030).
  • By vehicle type, the global automotive interiors market is segmented into Passenger Cars and Commercial Vehicles. Passenger Cars account for the largest market share and are estimated to grow at a CAGR of 5% during the forecast period. 
  • By component type, the global automotive interiors market is segmented into Instrument Panels, Infotainment Systems, Interior Lighting, Body Panels, and Others. Body Panels account for the largest market share and are estimated to grow at a CAGR of 4.9% during the forecast period. 


Competitive Landscape

  • Adient PLC
  • Grupo Antolin
  • Panasonic Corp.
  • Faurecia
  • Magna International
  • Toyota Boshuku Corporation
  • Hyundai Mobis Co.
  • Pioneer Corporation
  • JVCKENWOOD Corporation
  • Robert Bosch GmbH


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Global Automotive Interiors Market: Segmentation

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Component Type

  • Instrument Panels
  • Infotainment Systems
  • Interior Lighting
  • Body Panels
  • Other Component Types

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Automotive Interiors Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Vehicle Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Passenger Cars
      1. Market Size & Forecast
    3. Commercial Vehicles
      1. Market Size & Forecast
  5. Component Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Instrument Panels
      1. Market Size & Forecast
    3. Infotainment Systems
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Vehicle Type
        2. By Component Type
      3. Canada
        1. By Vehicle Type
        2. By Component Type
      4. Mexico
        1. By Vehicle Type
        2. By Component Type
      5. Latin America
        1. By Vehicle Type
        2. By Component Type
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Vehicle Type
        2. By Component Type
      3. France
        1. By Vehicle Type
        2. By Component Type
      4. U.K.
        1. By Vehicle Type
        2. By Component Type
      5. Italy
        1. By Vehicle Type
        2. By Component Type
      6. Spain
        1. By Vehicle Type
        2. By Component Type
      7. Rest of Europe
        1. By Vehicle Type
        2. By Component Type
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Vehicle Type
        2. By Component Type
      3. China
        1. By Vehicle Type
        2. By Component Type
      4. Australia
        1. By Vehicle Type
        2. By Component Type
      5. India
        1. By Vehicle Type
        2. By Component Type
      6. South Korea
        1. By Vehicle Type
        2. By Component Type
      7. Rest of Asia-Pacific
        1. By Vehicle Type
        2. By Component Type
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Vehicle Type
        2. By Component Type
      3. South Africa
        1. By Vehicle Type
        2. By Component Type
      4. Kuwait
        1. By Vehicle Type
        2. By Component Type
      5. Rest of Middle East & Africa
        1. By Vehicle Type
        2. By Component Type
  7. Company Profile
    1. Adient PLC
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Grupo Antolin
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Panasonic Corp
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/automotive-interiors-market/toc


Market News

  • In July 2022, Panasonic Corporation (hereinafter referred to as Electric Works Company) announced that Panasonic Electric Works Vietnam Co., Ltd., in charge of producing and selling wiring devices, lighting, and IAQ (Indoor Air Quality), will speed up the growth of its electrical construction materials business in Vietnam to more than triple sales in FY2031 from FY2022.


News Media

Airbag Control Unit Market to Ascend at a CAGR of 5.7% in the Wake of Stringent Safety Regulations

Original Equipment Manufacturers to Revolutionize the Automotive Electronics Market During the Forecast Period 2019–2026


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Automotive Trim Market: Information by Material Type (Acrylonitrile Butadiene Styrene (ABS)), Interior Application (Dashboards, Door Panels), and Region- Forecast till 2030

Automotive Plastics Market: Information by Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene), Application, and Region — Forecast Till 2026

Automotive Airbag Market: Information by Positions (Frontal Airbag, Side Airbag), Fabrics (Coated, Non-Coated), Types (Passenger), Distribution Channels, and Region — Forecast till 2030


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Automotive Interiors Market Automotive Interiors Industry vehicle interiors comfortable interiors automobile interiors OEMs US

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