Europe Automotive Interior Market

Europe Automotive Interior Market Size (2022-2027):

The Europe Automotive Interior Market was worth US$ 61.493 billion in 2021 and is anticipated to reach a valuation of US$ 88.45 billion by 2027 and is predicted to register a CAGR of 4.85% during 2022-2027.

Automotive interiors play a prominent role in the comfort and visual appearance of the vehicle. Demand for less-weight components has increased due to customer and government security requirements while reducing CO2 and harmful gas emissions. 

Market Drivers:

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 in 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.

Market Restraints:

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.

Market Opportunities:

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.

Market Recent Developments:

• Samsung Electronics Co., Ltd. announced a strategic partnership with Tech 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 in 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.

EUROPE AUTOMOTIVE INTERIOR MARKET REPORT COVERAGE:

Market Segmentation:

Europe Automotive Interior Market - By Component:

• Infotainment System
• Cockpit Module  
• Central Console
• Door Panel
• Dome Module    
• Headliner
• Interior Lighting
• Seats

Based on the components, 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 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.

Europe Automotive Interior Market - By Vehicle Type:

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Depending on the vehicle type, the Europe automotive interior market is separated into 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 consumers. Nonetheless, the increase in global trade and eCommerce features the adoption of superior internal parts to even commercial vehicles.

Market Regional Analysis:

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

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.

Market Key Players:

1. Continental AG
2. Ford Corporation
3. Delphi Automotive Plc
4. Faurecia S.A.
5. Robert Bosch GmbH
6. Grupo Antolin
7. Adient Plc
8. Lear Corporation
9. Magna International, Inc.
10. Panasonic Corporation
11. Hyundai Mobis Co. Ltd
12. Toyota Corporation