Automotive Interior Market worth $194.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

1. Automotive Interior Market worth $194.8 billion by 2028 - Exclusive Report by MarketsandMarkets™ NEWS PROVIDED BY MarketsandMarkets 16 Aug, 2023, 06:30 ET  CHICAGO, Aug. 16, 2023 /PRNewswire/ -- Automotive Interior Market, by value, is estimated to be USD 157.4 billion in 2023 and is projected to reach USD 194.8 billion by 2028, at a CAGR of 4.4% from 2023 to 2028, according to a new report by MarketsandMarkets™. The growth of the automotive interior market is in?uenced by various factors such as increasing customer preference for convenience, premium features, and advanced safety features, integration of smartphone connectivity, use of variety of lightweight & advanced materials and innovative ?nish. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp? id=10199544 Browse in-depth TOC on "Automotive Interior Market" 270 - Tables 71 – Figures        380 - Pages Automotive Interior Market Scope: 

2. Report Coverage Details Market Size USD 194.8 billion by 2028 Growth Rate 4.4% of CAGR Largest Market Asia Pacific Market Dynamics Drivers, Restraints, Opportunities & Challenges Forecast Period 2023-2028 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Component (HUD, Door Panel, Dome Module, Seat, Headliner, Center Console, Center Stack & Others), Material Type, Level of Segments Covered Autonomy, Electric Vehicle, Passenger Car Class, ICE Vehicle Type and Region Geographies Covered North America, Asia Pacific, Europe, and Rest of the World. Report Highlights Updated financial information / product portfolio of players Key Market Opportunities Growing trend of interior customization in premium vehicles and interior styling Key Market Drivers Increasing customer preference for convenience, premium features, and advanced safety The growth of automotive interior market in the future is expected to be driven by several key factors. The increased popularity of lightweight vehicles is a result of their higher fuel ef?ciency. This is increasing the demand for lightweight automobile interiors composed of composites and polymers. autonomous vehicles are expected to become increasingly popular in the coming years. These vehicles will require different interior designs than traditional vehicles, as they will not have a driver or passengers. This is driving demand for new and innovative automotive interior solutions. Additionally, more comfort and luxury are becoming priorities for consumers when purchasing cars. This is increasing demand for car interiors with amenities like massage chairs, heated and ventilated seats, and high-end music systems. India, Canada, South Korea, Japan and Brazil have increased their investments in the development of automotive industry due to the growing urban population and economy in these countries. Due to such investment demand for automotive interior components will be more during the forecast period. Battery electric vehicle segment is estimated to account for the largest market size during the forecast period The battery electric vehicle (BEV) segment holds the largest market share. BEVs tend to have a higher number of electronics and advanced systems than traditional combustion engine vehicles, including touchscreen displays, infotainment systems, and driver assistance features. The Audi e-tron GT 2023 model will feature a HUD that projects key driving 

3. information, such as speed, navigation, and safety alerts, onto the windshield. The HUD is designed to be glare-free and easy to read, even in direct sunlight.  The governments of India, China, the US, and several European countries are subsidizing electric infrastructure, which has resulted in the growth of the BEV segment. OEMs are focusing on launching new electric variants of existing ICE models. Electric and hybrid vehicles are premium vehicles equipped with multiple advanced systems, such as digital instrument clusters, center stacks, HUDs, and rear seat entertainment systems. The Lucid Air 2023 model will feature a HUD that projects key driving information onto the windshield, as well as a rearview camera image. The HUD is designed to be particularly useful for night driving, as it allows drivers to see the road ahead without having to look down at the instrument cluster. Also, the majority of BEVs now have features such as powered & heated seats and heated steering systems. The BMW iX 2023 model will also feature 14-way power-adjustable front seats with heating and ventilation. The seats are also ventilated. Hence, the demand for automotive interior technologies and solutions in the EV segment is expected to remain strong during the forecast period. "Asia Paci?c is expected to be the largest market during the forecast period." Asia Paci?c is expected to hold the largest share in the automotive interior market in 2023. The region is the largest market for small passenger automobiles. The expansion of the passenger car segment will have a favorable impact on the region's automotive interior market. The large automobile production capacity of countries such as China, Japan, India, and South Korea is signi?cantly driving the region's automotive interior market. Furthermore, increased R&D of various automotive interior components such as seating, infotainment systems, HUDs, ambient lighting, vehicle-connected features, and central consoles, as well as high vehicle production in emerging economies such as Asia Paci?c, are driving the automotive interior industry. Ford has invested USD 1 billion in R&D for its automotive interiors in 2023. This investment will be used to develop new materials, technologies, and features for its interiors. In addition to this, the increasing preference for the SUV/MPV vehicle segment, the increase in bus production, and regulations for truck cabin comfort are a few additional factors in?uencing the demand for automotive interior components and solutions in emerging economies, including China, India, and Thailand. Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp? id=10199544 

4. Key Market Players: The major players in Automotive Interior Companies include FORVIA Faurecia (France), Adient plc. (Ireland), Robert Bosch GmbH (Germany), Lear Corporation (US), and Antolin (Spain). Recent Developments: In June 2023, Samvardhana Motherson International Limited, a ?agship company of Motherson Group, announced that it has completed the additional 30% stake of Youngshin Motherson Auto Tech Limited from Youngshin Components Co. Ltd. In June 2023, Toyota Boshoku Corporation has developed highly comfortable seats that allow convenient seating arrangements. The seats will be available in the new Alphard and Vell?re models announced in June by Toyota Motor Corporation. In April 2023, Lear Corporation acquired IG Bauerhin (IGB), further expanding its suite of in-vehicle comfort technologies. IGB is a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules. In February 2023, TrinamiX, and Continental is presenting a world innovation the Driver Identi?cation Display with an integrated camera solution for biometric driver identi?cation. In February 2023, Faurecia has signed with the Motherson Group an agreement by which Motherson commits to acquire Faurecia SAS Cockpit Modules division (assembly and logistics services), reported as part of its Interiors Segment, for an enterprise value of €540 million (USD 570.9 Million). The transaction will be subject to customary conditions precedents, including regulatory approvals. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp? id=10199544 Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting Related Reports: 

5. Automotive Seats Market - Global Forecast to 2030 Automotive Lighting Market - Global Forecast to 2027 Automotive Smart Display Market - Global Forecast to 2025 Automotive Lightweighting Market - Global Forecast to 2027 About MarketsandMarkets™: MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us pro?cient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To ?nd out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 

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