According to a recent report published by Allied Market Research, titled,"Automotive Interiors Market by Component and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global automotive interiors market was valued at $171,200.3 million in 2017, and is projected to reach $249,785.4 million by 2025, registering a CAGR of 4.7% from 2018 to 2025.
Need to increase fuel efficiency, advancement in technology advancement & growth in demand for luxurious vehicles, and focus on well-being of drivers are the key factors that drive the growth of the automotive interiors industry. However, growth in trade war, increase in automotive import tariffs, and rise in raw material prices restrict the market growth. The market witnessed significant rise owing to anticipated growth from the untapped developing markets in Africa and Asia. The advancement in in-vehicle infotainment also fueled the growth of the market in these regions. Each of these factors is expected to have a definite impact on the automotive interiors market during the forecast period.
Key Findings of the Automotive Interiors Market:
- Based on vehicle type, the passenger car segment dominated the global automotive interiors market in 2017.
- Based on component type, the interior lighting segment is anticipated to exhibit the highest CAGR during the forecast period.
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