The automotive interior market is estimated to be worth US$ 166.7 billion in 2024 and is projected to be valued at US$ 270 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 4.9%. The growth of the automotive interior market is driven by the increasing demand for connected features in vehicles, including in-car Wi-Fi, smartphone integration, and advanced navigation systems.
Increasing incorporation of advanced technologies, such as touchscreen infotainment systems, digital instrument clusters, and voice-activated controls, to enhance the overall driving experience to boost the market demand. The seamless integration of these technologies necessitates sophisticated interior design to ensure a seamless and harmonious incorporation of connected features within the overall vehicle experience.
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The automotive interior market is experiencing growth propelled by a heightened awareness and emphasis on safety features within vehicles. The integration of crucial safety technologies like airbags, collision avoidance systems, and advanced driver assistance systems (ADAS) is a fundamental aspect of interior design, enhancing both safety and the overall driving experience.
Economic factors, such as the upswing in disposable income across various regions, play a pivotal role. This economic trend leads to an increased willingness among consumers to invest in vehicles that boast upgraded and feature-rich interiors, contributing to the expansion of the automotive interior market. Increasing demand for customizable interiors, allowing consumers to personalize their vehicles with options for materials, colors, and features to match individual preferences are expected to propel the market growth during the forecast period.
Key Takeaways
- From 2019 to 2023, the automotive interior market expanded at a CAGR of 6.6%.
- Based on vehicle type, the passenger car segment is expected to rise at a CAGR of 4.5% from 2024 to 2034.
- The automotive interior demand in China is predicted to grow at a CAGR of 5.7% through 2034.
- In the United States, the automotive interior industry is estimated to register a CAGR of 5.3% from 2024 to 2034.
- The United Kingdom is projected to expand by a value CAGR of 6.0% between 2024 and 2034.
- The automotive interior market in Japan is anticipated to record a CAGR of 6.6% during 2034.
“The automotive interior market is being propelled by increasing awareness of safety features in vehicles and growing trend of personalized interior solutions.” says an FMI analyst.
Competitive Landscape
The market players in the automotive interior market are offering a wide range of customization options for consumers to choose materials, colors, and interior configurations.
Market players are forming strategic collaborations with technology companies for joint development projects and partnerships with other automotive manufacturers or suppliers to expand market reach.
- In January 2022, Visteon a prominent global technology company in the mobility industry, presented its cutting-edge display technology at CES® 2022. The showcase will feature a range of innovations designed to deliver a superior user experience, specifically focusing on driver information and in-vehicle infotainment.
Key Companies Profiled
- Hyundai Mobis Company
- International Automotive Components Group S.A
- Adient
- Lear Corporation
- Grupo Antolin
- Visteon Corporation
- Faurecia S.A
- Calsonic Kansei Corporation
- Robert Bosch
- Yanfeng Automotive Interiors
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Automotive Interior Market – Key Segments
By Component:
- Cockpit Module
- Flooring
- Door Panel
- Automotive Seat
- Interior Lighting
- Other
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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