Automotive Interior Materials Market To Reach USD 79.79 Billion By 2026 | Reports And Data

New York, Sept. 04, 2019 (GLOBE NEWSWIRE) -- Increasing demand for automotive interior materials in passenger vehicles sub-segment coupled with high investment in R&D of automotive interior materials is fueling the market growth.

The global automotive interior materials market is forecast to reach USD 79.79 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly in the global market due to the high demand for automotive interior materials to ensure a high level of comfort and customization. Also, increase of the luxury vehicle market is helping the automotive interior market grow highly as the interiors of the luxury vehicles are the highest contributor to the market. The Plastics segment had the highest market share of 27.9% in the year 2018 as the most used interior material in a vehicle because of its optimum durability and ruggedness. Also, plastic is very light in weight, which helps in reducing the overall fuel consumption of a vehicle. Metals are now being replaced with the plastics for manufacturing of the interior products nowadays.

Asia Pacific region is forecasted to generate the highest revenue of USD 26.65 Billion in the year 2026, owing to its extensive market penetration coupled with the rising manufacturing industries and customers of passenger and cargo vehicles mostly in China, Japan, and India.     

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Further key findings from the report suggest

• Seats segment is forecasted to gain a CAGR of 5.3% throughout the forecast period and a market share to reach 20.8% by 2026. Passenger vehicles possess more number of seats, and cargo vehicles are kept vacant to have more space for the goods. Structural body panel was mostly made of metals, which is now being made of high-grade plastics for its less-weight.
• Passenger vehicle are made for the purpose of carrying passengers. These vehicles range from one-seater to more than 60 seaters. Bike, auto-rickshaw, cars, buses are some of the instances of the passenger vehicle. Passenger vehicles has the fastest growth rate of 5.3% during the forecast.
• Utility Vehicles are some kind of generic vehicles which are focused for particular end-use. For instance, vanity vans are designed for the celebrities for their dressing, make-up, refreshment, and other luxurious utilities. This segment had a market revenue of USD 4.89 Billion in 2018.
• Genuine Leather has a market share of 11.4% in the year 2018. This material is mostly used in the seats and covering objectives.
• Plastics is the most used material in a vehicle because of its optimum durability and ruggedness. The segment is forecasted to gain a CAGR of 5.6% during the forecast period.
• APAC, owing to its largest motor vehicle fleet and increasing manufacturing industries and consumer base of the automotive, is helping the market grow with the fastest CAGR of 6.2% throughout the forecast period. China, Japan, and India are some of the active contributors in this region.
• North America is accounted to gain 27.5% of market possession by 2026 with a CAGR of 5.2% in the forecast period.
• Europe is forecasted to witness a significant growth in the overall market, with 16.2% of market possession by 2026 and CAGR of 2.3% during the forecast period.
• Key participants include Toyota Boshoku Corporation, Sage Automotive Interiors Inc., Lear Corporation, ContiTech AG, Draxlmaier Group, Yanfeng Automotive Interiors, Hyundai Mobis Co. Ltd, TATA Group, SMS Auto Fabrics, Benecke-Kaliko AG.

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the global automotive interior materials market on the basis of the interior product type, vehicle type, class, interior material type, and region:                     

Interior Product Type Outlook (Revenue, USD Billion; 2016-2026)

• Body Panels
• Dashboard
• Seats
• Roof Paddings
• Airbags & Seatbelts
• Carpets & Floor Matts
• Others

Vehicle Type Outlook (Revenue, USD Billion; 2016-2026)

• Passenger Vehicles
• Cargo Vehicles
• Utility Vehicles

Class Outlook (Revenue, USD Billion; 2016-2026)

• Luxury
• Mediocre
• Economy

Interior Material Type Outlook (Revenue, USD Billion; 2016-2026)

• Genuine Leather
• Man-made Leathers
• Wooden Materials
• Fabrics
• Plastics
• Metals
• Others

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Regional Outlook (Revenue, USD Billion; 2016-2026)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of the Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa
  • Latin America
• Brazil

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