Automotive Trim Market Statistics – 2027
The global automotive trims market was valued at $25.68 billion in 2019, and is projected to reach $43.35 billion by 2027, registering a CAGR of 6.9%. Asia-Pacific was the highest revenue contributor, accounting for $7.53 billion in 2019, and is estimated to reach $13.21 billion by 2027, with a CAGR of 7.4%. Asia-Pacific and Europe collectively accounted for around 53.5% share in 2019, with the former constituting around 29.4% share.
Automotive trims are the plastic components installed in the vehicle to provide a better look and features to the vehicle. Trims used in a vehicle describe the special features of the vehicle. Numerous components such as front & rear bumpers, dashboards, and similar others installed in a vehicle describe different trims, which have a wider application in a vehicle. Numerous automotive component manufacturers have developed and introduced lightweight and strong automotive components, which are made of different polymers. These components have a wider application in an automobile, which effectively leads toward the growth of the global automotive trim market.
Factors such as increase in demand for luxury & comfort in vehicles and rise in production of vehicles lead to the growth of the global automotive trims market. Moreover, high replacement cost and growth in trade war and increase in automotive import tariffs are expected to restrain the automotive trims market growth during the forecast period. However, rise in demand for lightweight components and untapped developing markets are expected to supplement the market growth thus providing a better opportunity for the players in the near future.
By Material Type
Acrylonitrile Butadine Styrene is projected as the most lucrative segments
The automotive trims market is segmented into material type, interior application, exterior application, vehicle type, end use, and region. By material type, the market is categorized into acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyoxymethylene (POM), thermoplastic elastomer (TPE), and others. By interior application, it is classified into dashboards, door panels, and several other components. By exterior component, it is divided into bumpers, window & door seals, and others. ICE passenger vehicle, ICE commercial vehicle, battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV) are the different types of vehicles studied in the global market. Original equipment manufacturers (OEMs) and aftermarket are the different end users of the automotive trims. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Interior Applications
Dor Panels is projected as the most lucrative segments
The key players operating in the global automotive trim market include Draexlmaier Group, Dura Automotive Systems Inc., Gemini Group, Inc., GRONBACH, Grupo Antolin, Intenational Automotive Components, Kasai Kogyo Co., Ltd., STS Group Toyata Boshoku Corp., Trinseo, and TS Tech Co. Ltd.
Increase in demand for luxury & comfort in vehicles
Increase in demand for comfort and luxury in vehicles and quieter cabin has significantly contributed toward the growth of the global automotive trim market. Manufacturers such as Gronbach, Grupo Antolin, International Automotive Components, Kasai Kogyo co., Ltd. are the key players manufacturing effective automotive trims and supply their products to the automotive industry. Moreover, the sale of luxury cars is anticipated to increase by two-fold by 2020, due to advancement in vehicle technology and growth in economy of the developing countries. Moreover, noise, vibration, and harshness (NVH) performance of vehicles should meet the defined standard ratings to provide comfort and reduce cabin vibrations. Thus, all these factors collectively boost the growth of the global automotive trim market.
By Exterior Applications
Bumpers is projected as the most lucrative segments
Rise in production of vehicles
The automotive industry witnessed robust growth in the last decade in countries such as China, the U.S., Japan, India, Germany, and the UK. The global automotive industry initially focused on the developed countries such as Japan, the U.S., and Germany. However, companies have shifted their manufacturing facilities in the developing countries, such as China, Thailand, and India, due to increase in demand for automobiles & automotive components in these countries. Low cost of labor further decreases the production cost, and thus enables the manufacturers to cater to the increase in demands, which is anticipated to boost the sale of the vehicle during the forecast period. In addition, decrease in prices of electric vehicle parts such as battery, transmission, and alternators are expected to propel the sales of such vehicles. Such factors are projected to contribute toward the growth of the global vehicle industry.
By Vehicle Type
Battery Electric Vehicle is projected as the most lucrative segments
High replacement cost
Numerous components installed in a vehicle are costlier and hence their continuous replacement is not feasible. Thus, vehicle manufacturers are installing stronger and durable components in vehicles, which can survive in all temperatures and conditions and are also cost effective. Further, the high cost associated with the replacement of components leads to increase in cost of vehicles, which is expected to hamper the growth of the market. The prospect of providing premium features in vehicles incurs additional expenses to consumers in the form of hardware, applications, and other components, which eventually limits the market growth. Moreover, the serviceability of such vehicles is difficult, and requires skilled workers due to several components and sensors. Complex structure of systems reduce the service life of vehicles. Thus, high replacement cost is expected to have a negative impact on the growth of the global automotive trim market.
By End-use
Original Equipment Manufacturers is projected as the most lucrative segments
Rise in demand for lightweight components
Trims plays a vital role in improving luxury and comfort and reducing cabin vibrations in vehicles. Conventional trims were manufactured using materials such as steel or alloy of steels, including stainless steel and carbon steel. However, these materials were heavy and had less strength as compared to other materials. Therefore, technological advancements in the automotive industry lead to the development automotive lightweight materials such as carbon fiber and different polymers in the production of trim components. Such materials are used for manufacturing automotive components due to their improved properties such as low weight, high specific stiffness, corrosion resistance, ability to produce intricate shapes, high specific strength, and high impact energy absorption. Moreover, automotive lightweight materials are expected to witness high adoption in the automotive industry, due to surge in demand for fuel-efficient vehicles and implementation of stringent vehicular emission regulation, which are expected to provide lucrative growth opportunities for the expansion of the automotive trim market in the near future.
By Region
Europe would exhibit the highest CAGR of 7.8% during 2020-2027.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the global automotive trim market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global automotive trim market with a detailed impact analysis.
- The current automotive trim market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Automotive Trim Market Report Highlights
| Aspects | Details |
 By Material |
|
 By INTERIOR APPLICATIONS |
|
 By EXTERIOR APPLICATIONS |
|
 By VEHICLE TYPE |
|
 By End Use |
|
 By Region |
|
 Key Market Players | IAC Group (International Automotive Components), DURA AUTOMOTIVE SYSTEMS, KASAI KOGYO CO., LTD, GRONBACH, TS TECH CO.,LTD., DRAXLMAIER Group, TOYOTA BOSHOKU CORPORATION, Gemini Group, Inc., Grupo Antolin, STS Group AG, Trinseo |
Analyst Review
In vehicles, trims are used to provide enhanced driving experience as well as are intended to reduce the noise level of the vehicle. Trims used in a vehicles help prevent the inner body of the vehicle from outer atmosphere such as dust, dirt, noise, and several other factors, which hinder the driving experience of the vehicle. The market is supplemented by numerous developments carried out by various automotive component manufacturers, which leads to the growth of the market. Moreover, the demand for light weight and strong components to be equipped in vehicles to increase the efficiency of the vehicle supplements the growth of the global automotive trims market.
Factors such as increase in demand for luxury & comfort in vehicles and rise in production of vehicles lead to the growth of the global automotive trims market. Moreover, high replacement cost and growth in trade war and increase in automotive import tariffs are expected to restrain the automotive trims market during the forecast period. However, rise in demand for lightweight components and untapped developing markets are the factors expected to supplement the global automotive trims market thus providing a better opportunity for the growth of the market in the near future.
Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by LAMEA, Europe, and North America. On the basis of growth, Europe is expected to maintain the lead in the near future, owing to the development of the automotive industry.
The new competitive developments in automotive trims market includes the introduction of strong and rigid trims to be equipped in vehicles which are made of different polymers.
Dashboards holds a major market share of approximately 45% of the total market. This is due to the increased demand for strong dashboards for automobiles.
The sample for automotive trims market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
The potential customers in the global automotive trims market includes the vehicle manufacturers who are the initial installers of the trims iin an automobiles.
The leading players in the global automotive trims market includes Draexlmaier Group, Dura Automotive System, Gronbach, Grupo Antolin and others who offers different automotive trims and holds a major market share in the global market.
The company profiles of the top market players of automotive trims market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
Based on the analysis, Asia-Pacific is the highest revenue contributor and is expected to maintain the lead in the global automotive trims market owing to the wider production and sales of vehicles across the region.
The service providers in the global automotive trims industry are the different trims manufacturers who are developing better and advanced trims which are made of strong and flexible polymers thus propelling the growth of the global market.
The key growth strategies of automotive trims industry players includes product development and product launch which eventually leads to the growth of the global automotive trims market.
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