Automotive interiors play a prominent role in the comfort and visual appearance of the vehicle. Demand for less weight component has increased due to the customer and government security requirements while reducing CO2 and harmful gas emissions.
Europe automotive interior market is expected to grow from its initial value of US$ 61.493 billion in 2019 to an estimated value of US$ 87.45 billion by 2024, registering a CAGR of 4.65% over the forecast period 2020-2025. The growth of this market increases as the demand for clean cars increases.
Samsung Electronics Co., Ltd. announced a strategic partnership with TTTech and pledged to invest approximately $ 90 million for the development of stand-alone technologies and ADAS, the main components of which will be information and entertainment systems.
Mitsubishi Motors Corporation, Nissan Motor Co. Ltd and Groupe Renault have decided to adopt the Android operating system from Google Inc. for their next-generation information and entertainment systems from 2021.
In May 2018, SABIC, a world leader in the chemical industry, announced the SABIC polypropylene (PP) portfolio. This will provide fluid touch performance on the interior components of unpainted, low-gloss cars. The new compound will offer haptics and luxury finishes to meet emerging market needs.
Drivers, Restraints and Opportunities:
The need to increase fuel efficiency, technological advancements and growth in demand for luxury vehicles and to focus on the well-being of drivers are the key factors driving the growth of the interior industry.
The use of information and entertainment systems in connected cars and autonomous vehicles has grown steadily. The market for infotainment systems can be further strengthened by investments of car manufacturers and technology companies. A basic information and entertainment system comprises a CD player, Bluetooth, USB port, lighter port, auxiliary port, video panel, radio, GPS, several speakers and control panels.
The growth of the trade war, the increase in import tariffs for automobiles and the increase in the prices of raw materials slowed the growth of the market.
The auto industry is overgrowing as the middle-class population buys more vehicles, which in turn creates lucrative opportunities for players in the Europe automotive interior industry.
Based on the component, the Europe automotive interior market is divided into the Infotainment System, Central Console, Cockpit Module, Door Panel, Dome Module, Headliner, Interior Lighting, and Seats. Among these, the infotainment system dominates the domestic market as a prominent part of the passenger vehicles. The European region is expected to be the largest market for automotive information and entertainment systems due to the presence of high-end automaker manufacturing facilities, and the fastest-growing market in the area.
By Vehicle Type:
Depending on the vehicle type, the Europe automotive interior market is separated as Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles. Of these, the passenger cars segment holds a considerable portion of the regional market due to the increasing adoption of advanced interior products by the consumers. Nonetheless, the increase in global trade and eCommerce features the adoption of superior internal parts to even commercial vehicles.
Europe is the center of the luxury car market on the global stage. The customer's focus on the latest features in car interiors and security systems is a decisive factor that drives the local market. The improvement in car sales in countries such as Spain and Italy and the expected recovery of the automotive sector in Russia, thanks to public aid, should also open up opportunities for the car interiors market in this area during the forecast period.
The research report highlights:
• Comprehensive context analysis, which includes an evaluation of the parent market
• Significant changes in market dynamics.
• Market segmentation in the second or third level.
• Historical market size, current and projected in terms of value and volume.
• Reports and evaluation of recent industry developments.
• Market shares and strategies of the main actors.
• Niche of emerging segments and regional markets.
• An objective evaluation of the market trajectory.
• Recommendations to companies to strengthen their presence in the market.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Interior Market, By Component
6.1.1 Infotainment System
6.1.2 Cockpit Module
6.1.3 Central Console
6.1.4 Door Panel
6.1.5 Dome Module
6.1.7 Interior Lighting
6.1.9 Market Size Estimations & Forecasts (2019-2024)
6.1.10 Y-o-Y Growth Rate Analysis
6.1.11 Market Attractiveness Index
6.2 Automotive Interior Market, By Vehicle Type
6.2.1 Passenger Vehicles
6.2.2 Light Commercial Vehicles
6.2.3 Heavy Commercial Vehicles
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Vehicle Type
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Component
7.3.3 By Vehicle Type
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Vehicle Type
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Component
7.5.3 By Vehicle Type
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Component
7.6.3 By Vehicle Type
8. Key Player Analysis
8.1 Continental AG
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Ford Corporation
8.3 Delphi Automotives Plc
8.4 Faurecia S.A.
8.5 Robert Bosch GmbH
8.6 Grupo Antolin
8.7 Adient Plc
8.8 Lear Corporation
8.9 Magna International Inc
8.10 Panasonic Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures