The automotive interiors are the interior components present in the cabin of a vehicle. Market Research Future (MRFR) has published a research report about the global automotive interior material market that forecasts progress for this market at 8.72% CAGR (Compound Annual Growth Rate) during the forecast period that would end in 2027. By value, the market has been figured to be worth the US $ 149.6 bn by the end of forecast period.
Key Players
The key players in the global automotive interior material market include BASF Automotive Solutions (Germany), Faurecia S.A (France), Lear Corporation (USA), NTF India Pvt Ltd (India), Sage Automotive Interiors. Inc (USA), Toyoda Gosei Co. Ltd (Japan), and Toyota Boshoku Corporation (Japan).
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Analyzing the market structure, this report offers insights about factors affecting the market growth. Weighing the market size and foretelling the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
The significant factors driving the global automotive interior material market growth are the demand for good quality long-lasting materials and focus on authentic materials such as leather is seeing a significant uptick.
Segmentation of Automotive Interior Material Market
The global automotive interior material market has been segmented on the basis of type, vehicle type, and lastly, region. By type, this market has been segmented into the fabric, leather, synthetic leather, and thermoplastic polymer. Based on vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. Commercial vehicles are used for business purposes like transferring raw materials or finished goods. Passenger vehicles are used for traveling and commuting.
Regional Analysis
The regional segmentation of the global automotive interior material market segments the global market into regional markets known as North America, Europe, Asia Pacific, and the rest of the world (RoW). Asia Pacific region is a significant regional market. In this region, the market is growing due to the demand for automobiles, high density of population in countries like China and India, and government initiatives for promoting growth. Another important country-specific market in this region is Japan, followed by the remaining countries of the Asia Pacific region.
In Europe, the regulations are mandatory to improve countermeasures and crash performance to keep the passengers safe. This factor is likely to drive the market for interiors in this region. Many manufacturers have started pushing high-end interiors even in entry-level automobiles. In this region, the biggest revenue-generating country-specific markets are France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the remaining countries of Europe.
In North America, the safety measures are no different from Europe and laws made by government are pretty much similar. Automobiles are an established industry here. Therefore, the market for automobile interior material remains strong here. The valuable country-specific markets in this region are the United States of America (USA), Canada, and Mexico.
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Table of Contents
1 Introduction
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Automotive Interior Material Market, By Type
6 Global Automotive Interior Material Market, By Vehicle Type
7 Automotive Interior Material Market, By Region
8 Competitive Scenario
9 Company Profiles
Continued…….
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