Automotive Interior Market to Reach $301.5 Billion by 2022: Rising Demand For Cabin Comfort & Convenience Driving Growth
DUBLIN, July 28, 2017 /PRNewswire/ --
The "Automotive Interior Market by Component (Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment System, Interior Lighting, and Seat), Vehicle Type (PV, LCV, and HCV), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
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
- Aisin Seiki Ltd
- Calsonic Kansei Corporation
- Continental AG
- Delphi Automotive PLC
- Faurecia S.A.
- Garmin Ltd.
- Gentex Corporation
- Grammer AG
- Grupo Antolin
- Hyundai Mobis Co. Ltd.
- International Automotive Components Group S.A. (IAC)
- Johnson Controls Inc.
- Kenwood Corporation
- Kongsberg Automotive
- Lear Corporation
- Magna International Inc.
- Nippon Seiki
- Panasonic Corporation
- Pioneer Corp
- Robert Bosch
- Tachi-S Co. Ltd
- Toyoda Gosei
- Toyota Boshoku Corporation
- TRW Automotive Holdings
- Visteon Corporation
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
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Share this article