Bizizz Market Research has recently published a research report, “Automotive Interior Market by Vehicle Type (Commercial Vehicle, Passenger Vehicle ), Component(Cockpit Module, Door Panel, Central Console, Dome Module, Headliner, Interior Lighting, Infotainment System, Seats, Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Automotive Interior Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 250.12 Bn by 2027, witnessing a CAGR of XX % during the forecast period. Growing demand for cabin comfort is anticipated to drive the automotive interior market.
The automotive industry has developed in new solution for designing. The operating and controlling the complex functions have been eliminated by using automotive interior. Also, more comfort solution and features have been added in lighting, infotainment system and seat that enhanced overall experience of vehicle passenger as well as a driver. Now a day people are spending more time and investment in vehicle that increase the traffic and also the need of transport. Hence, manufacturers are increasing the comfort features in the vehicle i.e. they are replacing many old systems by electronics system. The original equipment manufacturer is developing technology to improve customer satisfaction in the automotive interior market.
The Automotive Interior Market is anticipated to register a CAGR of over XX % during the forecast period.
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By Vehicle Type, Passengers Vehicle Segment Expected to Dominate Global Automotive Interior Market in 2018
There is an increase in technological development in vehicle comfort, attractiveness, and creativity, especially in the passenger vehicle. The component used in a passenger vehicle is more perceived by a consumer as compared to a commercial vehicles. Passenger vehicle sales in 2017 were 81.8 million, consumers are spending more time in the vehicle for personal than commercial use.
By Infotainment System Segment of Global Automotive Interior Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period
The infotainment system is the fastest growing segment in the automotive interior market. It provides time, temperature display functions such as navigation, camera, etc., Consumers are having more disposal money and are willing to spend in the vehicle comfort.
Europe is Expected exhibit significant in Global Automotive Interior Market during the Forecast Period
Automotive industry is booming the market in this region, due to the presence of larger manufacturers such as Continental AG, Faurecia, Delphi Automotive, among others. The automotive sector has provided 13.8 million jobs in the European region. The European Commission supports technological harmonisation and funding research & development of the automotive industry to increase public safety
However, North America has dominated the automotive interior market with the largest share of the market due to increasing the presence of a well-established automotive industry. The Asia Pacific is expected to witness the significant growth next to the Europe region over the forecast period due to developing infrastructure in this region, coupled with increasing awareness about upcoming technologies in passenger vehicle.
Global Automotive Interior market was moderately consolidated with key players accounting for significant share in 2018. Prominent players operating in the Global Automotive Interior Market are: Lear Corporation (U.S.), Magna International (U.S.), Continental AG (Germany), Faurecia (France), Delphi Automotive (UK), Calsonic Kansei Corporation (Japan), Hyundai Mobis Co. Ltd (South Korea), Panasonic Corporation (Japan), Tachi-S Co.Ltd (Japan), Toyota Boshoku Corporation (Japan)
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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