Automotive Interior Market Size Hit US$ 423.64 Bn By 2027

Automotive Interior Market Size Hit US$ 423.64 Bn By 2027

LOS ANGELES, April 23, 2020 (GLOBE NEWSWIRE) — Acumen Research and Consulting, a global provider

LOS ANGELES, April 23, 2020 (GLOBE NEWSWIRE) — Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Automotive Interior Market (By Component: Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment system, Interior Lighting, Automotive Seats; By Application: Passenger Car, Commercial Vehicle [HCV (Heavy Commercial Vehicle), LCV (Light Commercial Vehicle)]) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”.

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Automotive interior refers to the components installed inside the automotive such as passenger car and commercial vehicle, particularly to enhance the aesthetic appearance and comfort to the users. The global automotive interior market is segmented on the basis of components and applications. By components, the market is segmented into a central console, cockpit module, dome module, door panel, headliner, infotainment system, interior lighting, automotive seats, and automotive seats. Moreover, the automotive interior has applications across passenger cars and commercial vehicles including HCV and LCV.

Automotive seats have been accounted for the major share in the automotive interior market. The increasing investment by vehicle owners on the comfort and aesthetic look of seats are driving the market value. The advancement is automotive seats associated with the health and safety features coupled with the technological advancements is additionally supporting the market value. The major manufactures are also investing in lightweight interiors to meet with the increasing demand for lightweight vehicles.

The Infotainment system segment by component is projected to exhibit the fastest growth over the estimated timeframe. Automotive infotainment system refers to the vehicle system that combines entertainment and information delivery with the help of audio/video (A/V) interfaces, touch-screens, keypads, and others. The self-driven and connected vehicle concept is further supporting the market growth.

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In 2019, Asia Pacific held the major share of the global market for automotive interior. The region is particularly gaining growth owing to the increasing disposable income coupled with the rising purchasing power of people. The high demand for passenger vehicles in the regional market is additionally supporting the market value. The increasing focus of vehicle owners towards the aesthetic appearance and comfort inside the vehicle is additionally propelling the regional market value. The major countries of the regional market including Japan, China and India are majorly contributing to the market value.

Some of the leading competitors are Adient PLC, Faurecia, Grupo Antolin, Hyundai Mobis Co., JVCKENWOOD Corporation, Magna International, Panasonic Corp., Pioneer Corporation, Robert Bosch GmbH, Toyota Boshuku Corporation. Automotive Interior companies have announced mergers and acquisitions to expand their position in the Automotive Interior industry. Major players are also moving into new regions and advanced technologies for expanding the market share.

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Some of the key observations regarding Automotive Interior industry include:

  • Sage Automotive Interiors have signed an agreement in 2020 to acquire Adient’s Automotive Fabric Business. The acquisition is intended to increase capacity, expansion in the automotive industry of the Europe market. The planned acquisition is intended for US$ 175 million.
  • In 2020, Hayashi Telempu North America (HTNA), A Michigan-based supplier of automotive interior components is likely to expand its operations in Jasper with an investment of US$ 7 million projects, which is expected to create 19 jobs in Jasper. Additionally, HTNA is the first auto suppliers outside of North Alabama selected to supply automotive interior components to Mazda Toyota Manufacturing USA.
  • Uno Minda, a Gurugram-based auto component has approved to invest Rs. 33.5 crore into a Japanese joint venture of Uno Minda and Toyoda Gosei (TG), TG Minda. The investment will consolidate the business of Toyota Gosei in India by transferring the shares of TG SIN to TG Minda, where, Toyoda Gosei South India Ltd. is a 95% subsidiary of TG. 
  • Yanfeng and SemsoTec have signed a Memorandum of Understanding (MoU) in March 2020, which is focused on collaboration in display and sensor technologies, components, and products for automotive applications. The partnership is intended to create a unique in-vehicle user experience by propelling the absolute integration of Human Machine Interface (HMI) into all surfaces of future vehicle interiors.
  • Inteva Products, an automotive supplier that designs and produces engineered components and systems including closure systems, interior systems, motors, and electronics for OEMs and other customers. The company is expected to create more than 400 jobs at its new facility in northeastern Indiana in 2020.

Market Segmentation

Market By Component

  • Central Console
  • Cockpit Module
  • Dome Module
  • Door Panel
  • Headliner
  • Infotainment system
  • Interior Lighting
  • Automotive Seats

Market By Application

  • Passenger Car
  • Commercial Vehicle

Market By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

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