Automotive interiors refer to the interior components and systems in a vehicle which are specifically designed to provide comfort, grip, and sound insulation in the vehicle cabin. These comprise headliners, cockpit modules, door panels, flooring, automotive seats, interior lighting and other components. Automotive interiors play a critical role in influencing the buying decision of the buyer as these are indicative of the vehicle comfort and quality. The market of automotive interiors is expected to grow at a CAGR of 6.5% during the forecast period (2016 ‐ 2022), to attain market value of over $200 billion by 2022. Major factors that drive the growth of the market are rising income levels, growing automotive industry, and the increasing consumer demand for innovative and technologically advanced systems, for an enhanced driving experience.
In line with the increasing consumer demand of customized and technologically advanced vehicle interiors, companies in the market are constantly developing superior products with enhanced features. For instance, in April 2014, Grupo Antolin launched a new lighted headliner, aimed at making the vehicle interiors more attractive, pleasant and comfortable. Moreover, manufacturers focus more on usage of lightweight and highly durable materials in designing of components so as to reduce the weight of vehicles. For instance, in 2014, TRW Automotive Holding introduced a new version of the inflator with an aim to reduce weight. This new airbag was 5 mm smaller in diameter, 50 mm shorter in length, and weighed about 35% less than previous generation technology. The growth of the market is affected by stringent government regulations regarding safe disposable of effluents released by automotive interior manufacturers.
The market is segmented on the basis of vehicle type, component, and geography. On the basis of vehicle type, the market is categorized into passenger car and commercial vehicle (light commercial vehicle and heavy commercial vehicle). Component wise, the market is segregated into Cockpit Module, Flooring, Door Panel, Automotive Seat, Interior Lighting and others (sun visors, headliner, overhead and acoustic system). Geographically, the market is segmented across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the prominent market in the automotive interior market worldwide, followed by Europe and North America. The market in these regions has been further broken down into major countries within each region.
Key players that operate in the automotive interior market are Grupo Antolin, Faurecia Interior System, Johnson Controls, Calsonic Kansei Corp., Visteon, Lear Corporation, Delphi Automotive LLP, Hyundai Mobis Company, Ltd, Magna International Inc. and IAC Group. Prominent players operating in the automotive interior market adopt strategies such as acquisition, partnership, expansion, and product launch to increase their geographical presence and strengthen their market share.
AUTOMOTIVE INTERIORS MARKET SEGMENTATION
By Vehicle Type
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