Global Automotive Interiors Market to Reach $236.2 Billion by 2022

Date: 2016-09-19

Global Automotive Interiors Market, the Global automotive interiors market is estimated to reach $236.2 billion by 2022, growing at a CAGR of 6.5% during the forecast period (2016-2022). Asia-Pacific is the leading market of automotive interiors, followed by Europe. Factors such as increasing preference of consumers towards attractive and comfortable interiors coupled with the rising disposable income have resulted in the overall increase in demand for vehicles equipped with superior quality interiors.

Cockpit module, flooring, door panel, automotive seat, interior lighting, acoustic, and sun visors among others are the key components of a vehicles interior. Among these, automotive seat is the largest revenue contributor, anticipated to account for over 40% of the total market revenue, throughout the forecast period. The rising demand of luxurious seating systems is fostering the market growth for automotive seats. Cockpit module, which encompasses audio systems, infotainment, instrument cluster, telematics and others, would be the second highest revenue-generator throughout the analysis period. Interior lighting is anticipated to be the most lucrative segment in terms of growth, with an anticipated CAGR of 10.4% from 2016-2022. The growth is attributable to the technological advancements in LED lights and increasing trend of interior lighting customization among the buyers.

On the basis of vehicle type, passenger cars generated higher revenue in comparison with commercial vehicle, accounting for over 78% of the market revenue in 2015. The passenger car segment would continue to lead the market throughout the analysis period, owing to the continuous development of technologically advanced infotainment and active safety systems, which facilitate a safe and superior driving experience.

Based on geography, Asia-Pacific dominated the automotive interiors market accounting for over 37% share in 2015, in terms of revenue, owing to lower transportation and labor costs, and easy availability of raw materials.

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520

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