Seoul, South Korea, July 28. 2022 (GLOBE NEWSWIRE) — The global automotive interior trim market size is expected to be valued at US$ 13.64 billion in 2022 and grow at a CAGR of 3.6% during the forecast period (2022 – 2032).
According to a report by Fact.MR, global automotive interior trim market sales are expected to reach US$19.4 billion by 2032. The trend of carpooling and growing demand for autonomous vehicles is expected to increase the need for comfortable cabin designs, which will increase growth.
According to a study published by the University of California, carpooling can help private and public sector employees reduce investment costs by nearly $15,000 to $45,000 per parking space in the United States. They can also reduce operating costs by around $360 to $2,000 per parking space per year.
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According to Fact.MR, by vehicle type, the battery electric vehicle segment is expected to remain at the forefront through 2032. Growing demand for eco-friendly mobility solutions to reduce pollution is expected to drive sales of battery electric vehicles in the world.
In addition, supportive government programs and initiatives to promote the adoption of sustainable vehicles by removing polluting conventional vehicles from the roads are expected to fuel growth. Strong demand for quieter and luxury cabins in battery electric vehicles to improve the driving experience is also expected to drive growth.
Additionally, increasing adoption of power seats in battery electric vehicles and strong demand for alternative seating solutions are expected to increase growth. In April 2022, for example, Maruti announced that it planned to launch the Maruti Suzuki XL6 minivan with many additional features, including ventilated seats for the driver and front passenger in India.
Both seats will have seat cooling functionality, a much sought after feature for Indian cars due to the climatic conditions of the country. Launches of similar innovative products by key players in various parts of the world to meet specific needs are likely to drive growth.
What type of material is most widely used for automotive interior trim?
“Growing demand for luxurious and comfortable seats is driving sales of automotive leather interior trim”
Seats, door trims, pillar trims, roof trims and other segments make up the automotive interior trim market.
Since seats are an integral part of every passenger or commercial vehicle, the seating category is expected to account for the largest share of the automotive interior market in the coming years.
The need for comfort and luxury along with the increase in vehicle production is driving the growth of the market. The seat has a big impact on the driving and passenger experience, and leather is most widely used for this purpose.
Modern technology enables intelligent seat adjustment, adaptive comfort and several other features. Faurecia has recently created a cover cutting technology specific to advanced seat covers.
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Key segments covered by the Automotive interior trim Industry survey
- Automotive Interior Trim Market By Material:
- Chemical polymers
- Automotive Interior Trim Market by Interior Application:
- Door panels
- Automotive Interior Trim Market by Vehicle Type:
- ICE passenger vehicles
- ICE utility vehicles
- Battery Electric Vehicles (BEV)
- Hybrid Electric Vehicles (HEV)
- Plug-in hybrid electric vehicles (PHEV)
- Automotive Interior Trim Market by End User:
- Original Equipment Manufacturers (OEMs)
- Secondary market
The global automotive interior trim market is highly competitive with the presence of a large number of companies. They invest huge sums in research and development activities to come up with state-of-the-art products that would meet government standards.
Meanwhile, a few other companies are aiming to improve the quality of their existing product portfolios to appeal to a broad consumer base. For instance,
- In June 2022Hyundai has announced that it has updated the Creta’s interior trim and will now receive a piano black finish around the center console and infotainment system. Older models only had a dull plastic finish. The steering wheel of the newly launched model will also receive piano black inserts.
- In January 2022Adriano Di Marti, a sustainable and eco-friendly organic leather manufacturer based in Mexico, introduced Mercedes Vision EQXX at the CES 2022 show. The new seats are upholstered in an automotive material called Dessertex made from cactus.
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The key players in the Automotive interior trim Market
- Qinghe Yongxin
- Cooper Standard
- Hebei Longzhi
- Toyoda Gosei
- Jiangyin Haida
- At Jianxin Zhao
Main takeaways from Automotive interior trim Market research
- The European automotive interior trim market is expected to generate nearly 21.6% market share in 2022.
- North America is expected to account for 17.5% of the global automotive interior trim market share in 2022.
- On the basis of materials, the leather segment is expected to take the lion’s share owing to the growing demand for luxurious seating experiences for driver and passenger.
- The top 3 countries in the global automotive interior trim market are expected to generate a share of 42.6% in the coming years (2022-2032).
- In terms of end user, the OEM segment is expected to experience the fastest growth over the next decade.
About Fact.MR Automotive Division
Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced automotive team help customers around the world meet their unique business intelligence needs. With a repository of over a thousand reports and over a million data points, the team has analyzed the automotive industry in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services. Contact us to find out how we can help you.
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