Automotive Interior Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The automotive interiors market was valued at USD 109 billion in 2020, and it is expected to reach USD 141 billion by 2026, registering a CAGR of about 5% during the forecast to 2028.
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Regional Analysis
Asia Pacific is estimated to be the largest and fastest-growing automotive interior market during the forecast period. The growth of this market is primarily driven by the increasing vehicle production and rising demand for comfort and luxury. Asia Pacific, being the largest market for vehicle production globally, leads the market for automotive interior components.
Recent Developments
In September 2020, Marelli and Highly International (Hong Kong) Limited announced an agreement to form a new joint venture, named Highly Marelli Holdings. The new entity will be dealing in cabin comfort business, focused on developing advanced solutions specifically in the electrification of compressors and heating; ventilation & air conditioning (HVAC); and electric driven compressor (EDC) systems.
In September 2020, Continental decided to repatriate the joint venture with Osram. Continental and Osram each have a half share in the joint venture, which was founded in 2018 and specializes in intelligent lighting systems for automobiles. The two companies are currently holding talks that should be concluded by the end of the year.
Key Players of Automotive Interior Market:
· Continental AG
· Faurecia SA
· Grupo Antolin
· Marelli
· and Magna International Inc.
· Adient
· Toyota Boshoku
· Visteon
· Dräxlmaier Group
· Panasonic Corporation
· Yanfeng Automotive Interiors and More
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A vehicle’s interior, which comprises components such as headliners, cockpit modules, door panels, automotive seats, and others are specifically designed to provide comfort, grip, and sound insulation of the vehicle cabin. Interior trims, upholstery, and other adornments play a crucial role in the saleability of a car. In addition, vehicle interior is the first and foremost factor that influences a buyer’s perception regarding the quality of a vehicle.
increased vehicle production, adoption of advanced seating systems & lighting, rising demand for infotainment, and focus on providing comfort and convenience in vehicles are expected to play a pivotal role in the adoption of automotive interiors in the future are some of the factors that have supported long-term expansion for Automotive Interior Market.
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· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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