New market study launched by ASDReports.com
AMSTERDAM, NETHERLANDS, August 16, 2017 /EINPresswire.com/ — The report, now available on ASDReports, "Automotive Interior Market by Component (Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment System, Interior Lighting, and Seat), Vehicle Type (PV, LCV, and HCV), and Region – Global Forecast to 2022", The automotive interior market is estimated to grow from USD 235.59 Billion in 2017 to USD 301.56 Billion by 2022, at a CAGR of 5.06%.The increase in demand for premium segment vehicles with advanced styling and rise in demand for cabin comfort and convenience are the major growth factors for this market.
The Passenger Vehicle (PV) segment is estimated to hold the largest share in the automotive interior market by vehicle type
The PV segment is estimated to have the largest share in the automotive interior market by vehicle type. The primary factor behind this is the high production of PVs compared to commercial vehicles. Also, the quality of automotive interior components desired by a consumer is relatively higher in PVs.
Infotainment system is estimated to act as the fastest growing segment of the automotive interior market by component
The infotainment system segment is projected to be the fastest growing segment of the automotive interior market by component. Infotainment systems help the user to obtain information regarding time and temperature display, navigation, and other functions. The use of infotainment systems is observed across economy cars to premium cars; however, the quality of display may vary accordingly. Touchscreen technology is now being increasingly used in various cars. For premium cars, touchscreens are now combined with haptic response systems, which provide a vibratory feedback when the button on the touch screen is tapped.
The North American region holds the second largest share in the automotive interior market in 2017
North America has been projected to hold the second largest share of the automotive interior market in 2017. The North American automotive industry is advanced with powerful economies such as the U.S. and Canada present across this region. Some of the major OEMs such as General Motors, Ford Motors, and Fiat-Chrysler Automotive are present across this region. High consumer disposable income and a significant market for luxury cars, technologies such as advanced instrument cluster, infotainment, and navigation system have led to the growth of the automotive interior component market.
This report covers some of the leading players in the automotive interior market such as Continental AG (Germany), Lear Corporation (U.S.), Faurecia S.A. (France), Magna International (Canada), and others.
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Source: EIN Presswire