Global Automotive Interior Trim Parts Market Size By Interior Trim Parts (Door Panels, Instrument Panel, Headliners, Trunk/Tailgate trims, Sun Visors), By Application (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), By Geographic Scope And Forecast
Global Automotive Interior Trim Parts Market Size By Interior Trim Parts (Door Panels, Instrument Panel, Headliners, Trunk/Tailgate trims, Sun Visors), By Application (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Automotive Interior Trim Parts Market Size By Interior Trim Parts (Door Panels, Instrument Panel, Headliners, Trunk/Tailgate trims, Sun Visors), By Application (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), By Geographic Scope And Forecast
Automotive Interior Trim Parts Market Size And Forecast
Automotive Interior Trim Parts Market size was valued at USD 41.25 Billion in 2023 and is projected to reach USD 60.19 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The demand for automotive interior trim parts has seen an upsurge over the past years owing to increased demand from the automotive industry. One of the key drivers of this trend is the rising disposable incomes of consumers, especially in emerging economies, which has allowed them to afford more luxurious vehicles. The Global Automotive Interior Trim Parts Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Automotive Interior Trim Parts?
All of the car’s interior trims are the portions that serve more as decorative embellishments than functional components. Its main objective is to create a comfortable and warm environment inside the car. A leather steering wheel, door lining, decorations on the car roof, seat trim, or a sun visor mirror are a few examples of trim.
All of these different types of trim have the trait of being visually appealing. They do have a useful function, like insulating the vehicle to keep the heat in. For instance, shielding hands from the sunrays while behind the wheel or guarding against water damage to the roof of the car. Yet, most people view them as an additional adornment for the vehicle, enhancing the glitz and glamour of the interior. These parts are designed to enhance the comfort, functionality, and aesthetic appeal of a vehicle’s cabin, and can include (but not limited to).
These days, car interiors are getting seriously fancy! You'll find all sorts of cool stuff like touchscreens, digital displays, ambient lighting, and killer audio systems. All this high-tech trim doesn't just make your car more functional; it makes it look and feel way more luxurious. Basically, the interior is a big deal for automakers; it really affects how well a car sells. They spend a ton of time and money figuring out what people want, using the newest tech and materials to make the driving experience top-notch – really giving you that premium feel.
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Global Automotive Interior Trim Parts Market Overview
We're seeing a big jump in requests for parts that make up the inside of cars – what we call automotive interior trim. This is largely because the car industry itself is booming! Things like artificial intelligence, data analytics, and even robotics are helping push things forward, along with the exciting innovation happening with electric vehicles globally. Asia Pacific, especially with powerhouse countries like China, Japan, South Korea, and India, is expected to lead the way. This should really boost the market for interior car parts in that area. Just to give you an idea, in 2021, China alone churned out 33% of the world's 79 million cars made each year! Europe followed with 21%, and Japan and Korea combined for about 16%.
The demand for more comfort and luxury in automobiles has been increasing in recent years. Consumers are looking for cars that provide a comfortable and enjoyable driving experience, with advanced features and amenities that enhance their overall driving experience.
One of the key drivers of this trend is the rising disposable incomes of consumers, especially in emerging economies, which has allowed them to afford more luxurious vehicles. In addition, advancements in technology have allowed automakers to incorporate more advanced features and amenities into their vehicles, such as advanced infotainment systems, high-quality sound systems, and advanced climate control systems.
Plus, these fancy cars are tough to fix because they've got so many parts, so you need specialized personnel to work on them. Complex systems like these? They don't last as long. So, get ready for high replacement costs, which we think will slow down the growth of the global automotive interior trims market. Oh, and by the way, environmentalists aren't too happy about all that natural leather used in car interiors. Why? Well, making leather guzzles water and uses loads of chemicals that can mess up the environment. Leather production even involves nasty chemicals like chromium, which can be bad news for both the planet and us.
Over the past few decades, there has been a rapid evolution of passenger cars and light commercial vehicles, with an increased emphasis on comfort, convenience, safety, and the quality of the driving and passenger experience. Higher standards and more stringent legislation are results of globalization. Vehicle manufacturers today require eco-friendly production and assembly processes as well as lightweight materials that lower emissions and fuel use. Companies that manufacture seats and interior trim for motor vehicles are making investments in the usage of eco-friendly materials.
Global Automotive Interior Trim Parts MarketSegmentation Analysis
The Automotive Interior Trim Parts Market is segmented on the basis of Interior Trim Parts, Application, and Geography.
Automotive Interior Trim Parts Market, By Interior Trim Parts
Door Panels
Instrument Panel
Headliners, Trunk/Tailgate trims
Sun Visors
Others
To Get a Summarized Market Report By Interior Trim Parts-
Based on Interior Trim Parts, the market is bifurcated into Door Panels, Instrument Panel, Headliners, Trunk/Tailgate trims, Sun Visors, and Others. Door Panels accounted for the largest market share in 2021. Door panels serve as an interface between the interior of the vehicle and the inner workings of the door, and between vehicle occupants and the door.
Automotive Interior Trim Parts Market, By Application
Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle
On the basis of Application, the Global Automotive Interior Trim Parts Market has been segmented into Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle. Passenger Cars accounted for the largest market share in 2021. The passenger cars segment accounted for 51% share in global automotive interior market. The segment is expected to witness high growth over the forecast period owing to high consumer purchasing power along with increasing sales of private cars along with growing inclination towards comfort, convenience and aesthetics.
Automotive Interior Trim Parts Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
To Get a Summarized Market Report By Geography-
So, when we look at different regions, the Global Automotive Interior Trim Parts Market breaks down into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. We're expecting Asia Pacific to really lead the way in market share for Automotive Interior Trim Parts, with Europe coming in second. Why Asia Pacific? Well, people there are quickly embracing new tech and buying lots of cars! Specifically, China and Japan are huge players thanks to their massive vehicle production and sales at home. Plus, manufacturers there are pushing the boundaries of technology, which is driving demand for things like advanced automotive lighting. On top of all that, rising incomes and the growing popularity of SUVs in places like India are expected to give the automotive interior trim parts market an even bigger boost.
Key Players
The major players in the market are Faurecia, Adient PLC, Continental AG, Magna International, CIE Automotive, Inteva Products, Nihon Plast, NBHX Trim Group, Kasai Kogyo, Kojima Industries, Safe Demo, Inoac, DURA Automotive Systems, Ashimori Industry, Kyowa Leather Cloth, Tata AutoComp Systems, Meiwa Industry, Borgers, Achilles, ACS Iberica. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
In January 2022, Faurecia and HELLA, an internationally operating German automotive part supplier came together to form FORVIA, a global automotive supplier with an advanced technology portfolio and innovation capability. FORVIA, is a newly combined Group’s name formed following the successful completion of the acquisition of a controlling stake in HELLA by Faurecia.
In August 2021, Adient announced the closing of previously announced transactions with joint venture partner Yanfeng to restructure existing joint venture relationships. At the closing, Adient received cash proceeds of USD 309 million related to the sale of Adient’s 30% ownership stake in Yanfeng Global Automotive Interior Systems Co., Ltd. (YFAI) to Yanfeng. And following this approximately USD 20 million related to the sale of Adient’s certain mechanisms business patents and other intellectual property to Adient Yanfeng Seating Mechanisms Co., Ltd. (AYM).
In August 2021, Dura Automotive Systems announced that it has entered into a joint venture agreement with ALMAC Co, LTD a leading supplier of precision Aluminum products to the automotive industry. The company entered into a joint venture to manufacture automotive-grade aluminum extrusions and components to enhance the performance of lightweight and electric vehicle modules. Through this arrangement Dura Automotive Systems will leverage the combined competencies of ALMAC and DURA to produce luxury battery electric vehicles (BEV’s).
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Faurecia, Adient PLC, Continental AG, Magna International, CIE Automotive, Inteva Products, Nihon Plast, NBHX Trim Group, Kasai Kogyo, Kojima Industries, Safe Demo, Inoac, & Others
SEGMENTS COVERED
Interior Trim Parts, Application, and Geography.
CUSTOMIZATION SCOPE
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