The report includes an in-depth analysis of the automotive interior components market, including current trends, drivers, restraints, and growth opportunities.
Portland, OR -- (SBWIRE) -- 02/15/2018 -- Automotive Interiors Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $236.2 billion by 2022, registering a CAGR of 6.5% during the forecast period 2016-2022. Asia-Pacific is the leading market of automotive interiors, followed by Europe. Factors such as increasing preference of consumers towards attractive and comfortable interiors coupled with the rising disposable income have resulted in the overall increase in demand for vehicles equipped with superior quality interiors.
Cockpit module, flooring, door panel, automotive seat, interior lighting, acoustic, and sun visors among others are the key components of a vehicles interior. Among these, automotive seat is the largest revenue contributor, anticipated to account for over 40% of the total market revenue, throughout the forecast period. The rising demand of luxurious seating systems is fostering the market growth for automotive seats.
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Cockpit module, which encompasses audio systems, infotainment, instrument cluster, telematics and others, would be the second highest revenue-generator throughout the analysis period. Interior lighting is anticipated to be the most lucrative segment in terms of growth, with an anticipated CAGR of 10.4% from 2016-2022. The growth is attributable to the technological advancements in LED lights and increasing trend of interior lighting customization among the buyers.
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Based on geography, Asia-Pacific dominated the automotive interiors market accounting for over 37% share in 2015, in terms of revenue, owing to lower transportation and labor costs, and easy availability of raw materials.
AUTOMOTIVE INTERIORS MARKET SEGMENTATION
By Vehicle Type
-Others (sun visors, headliner, overhead and acoustic systems)