Automotive Interior Trims Market to Surpass US$ 19.4 Billion by 2032 as Trend of Carpooling Gains Momentum, Says Fact.MR Report
FACT.MR
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FACT.MR
Inclusion of Ventilated Seats in ICE Passenger Vehicles to Transform India Automotive Interior Trims Market
Seoul, South Korea, July 28, 2022 (GLOBE NEWSWIRE) -- The global automotive interior trims market size is expected to be valued at US$ 13.64 Billion in 2022 and exhibit growth at a CAGR of 3.6% in the forecast period (2022-2032).
According to a report by Fact.MR, sales in the global automotive interior trims market are projected to reach US$ 19.4 Billion in 2032. Trend of carpooling and rising demand for self-driving vehicles are likely to push the need for comfortable cabin designs, which would augment growth.
As per a study published by the University of California, carpooling can help private and public sector employees to reduce capital costs of nearly US$ 15,000 to US$ 45,000 per parking space in the U.S. They can also lower operational costs of about US$ 360 to US$ 2,000 per parking space annually.
According to Fact.MR, by vehicle type, the battery electric vehicles segment is anticipated to remain at the forefront through 2032. Surging demand for environmentally friendly mobility solutions to reduce pollution is expected to boost sales of battery electric vehicles globally.
Further, supportive government schemes and initiatives to promote the adoption of sustainable vehicles by eliminating conventional polluting vehicles from roads is set to fuel growth. High demand for quieter cabins and luxury in battery electric vehicles to elevate driving experience is also expected to aid growth. Besides, surging adoption of powered seats in battery electric vehicles and high demand for aftermarket seating solutions are set to augment growth. In April 2022, for instance, Maruti announced that it is planning to launch the Maruti Suzuki XL6 MPV with numerous additional features, including ventilated seats for the driver and front passenger in India.
Both seats will have seat-cooling functionality, which is a highly sought-after feature for Indian cars owing to the country’s climatic condition. Similar innovative product launches by key players in various parts of the globe to cater to specific needs are likely to push growth.
Which Material Type is Most Widely Used for Automotive Interior Trims?
“Increasing Demand for Luxurious & Comfortable Seats Driving Sales of Leather Automotive Interior Trims”
Seats, door trims, pillar trimmings, headliners, and other segments make up the automotive interior trims market.
Since seats are an integral part of every passenger or commercial vehicle, the seating category is predicted to account for the largest share of the automotive interior market over the coming years.
The need for comfort and luxury as well as the increase in vehicle production is driving market growth. The seat has a big impact on the driving and passenger experience, and leather is most widely used for this purpose.
Modern technology enables intelligent sitting adjustment, adaptive comfort, and several other features. Faurecia recently created a cutting-edge seat cover-specific cover carving tech.
Key Segments Covered in the Automotive Interior Trims Industry Survey
Automotive Interior Trims Market by Material :
Chemical Polymers
Leather
Fabrics/Textiles
Automotive Interior Trims Market by Interior Application :
Dashboards
Door Panels
Others
Automotive Interior Trims Market by Vehicle Type :
ICE Passenger Vehicles
ICE Commercial Vehicles
Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Automotive Interior Trims Market by End User :
Original Equipment Manufacturers (OEMs)
Aftermarket
Competitive Landscape
The global automotive interior trims market is highly competitive with the presence of a large number of companies. They are investing huge sums in research and development activities to come up with cutting-edge products that would meet government norms.
Meanwhile, a few other companies are aiming to enhance the quality of their existing product portfolios to attract a large consumer base. For instance,
In June 2022, Hyundai announced that it has updated the interior trim of Creta and it will now receive a piano-black finish around the center console and infotainment system. The old models only had a dull plastic finish. The newly launched model’s steering wheel will also get piano-black inserts.
In January 2022, Adriano Di Marti, a maker of sustainable and environmentally friendly organic leather based in Mexico, introduced Mercedes Vision EQXX at the CES 2022 show. The new seats are upholstered with an automotive material called Dessertex that is made from cactus.
Key players in the Automotive Interior Trims Market
Qinghe Yongxin
Cooper Standard
Hebei Longzhi
Toyoda Gosei
Jiangyin Haida
Hutchinson
Jianxin Zhao’s
Henniges
Key Takeaways from Automotive Interior Trims Market Study
Europe automotive interior trims market is expected to generate nearly 21.6% of share in 2022.
North America is projected to account for 17.5% of the global automotive interior trims market share in 2022.
Based on material, the leather segment is set to hold the lion’s share on the back of rising demand for luxurious driver and passenger seating experience.
Top 3 countries in the global automotive interior trims market are anticipated to generate a share of 42.6% in the forthcoming years (2022-2032).
In terms of end user, the OEM segment is expected to witness fastest growth over the upcoming decade.
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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