Global Automotive Interiors Market - Segmented by Vehicle Type, Component, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The automotive industry is undergoing a rapid transformation with disruptive technologies being introduced, such as autonomous vehicles, connected cars, and electric vehicles. The introduction of autonomous vehicles will transform the interiors of the automobile, as the role of infotainment systems will become primary ensuring safety, security, and comfort of the passenger. As and when autonomous cars start entering the market the driver will become the passenger opening up a wide array of opportunities for the automotive seating segment besides infotainment systems. Electric vehicles are also expected to drive the market for automotive interiors. As the share of electric vehicles in the automotive market is expected to proliferate over the years, the automakers will have to focus on interiors for product differentiation to attract customers as the performance of electric vehicles manufactured by different OEMs are expected to be at similar level.
Infotainment Systems segment constitutes a major share in the automotive interior market
Infotainment systems is the largest segment of the automotive interiors market. The European region is the most significant market for automotive infotainment systems due to the presence of manufacturing facilities of largest premium automakers and the fastest growing market for these systems is the Asia-Pacific region. Also, the demand for premium vehicles is increasing in China and India supported by high economic growth rates in these countries which are also among the largest automotive markets in the world. Infotainment systems will play a major role in advanced automobiles such as connected cars and autonomous vehicles for navigation, connectivity, safety, and comfort. The market for infotainment systems will be further strengthened by investment being made by automakers and tech companies. For example, Samsung Electronics Co, Ltd. has announced a strategic partnership with TTTech and has promised to invest around USD 90 million for the development of autonomous and ADAS technologies in which the primary components will be infotainment systems.
Major Players: JOHNSON CONTROLS, MAGNA INTERNATIONAL, PANASONIC CORP and DELPHI AUTOMOTIVE amongst others.
Key Developments in the Market:
June, 2017: CVC Capital Partners has agreed to acquire Pasubio, a specialised provider of premium leather for the automotive industry, from the Pretto family. Pasubio supplies leather interiors for the premium segment for clients like Jaguar Land Rover Group, Volkswagen Group (Porsche, Lamborghini, Bentley, and Skoda), FCA Group (Maserati and Alfa Romeo), BMW and PSA.
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