Impact of COVID 19 on Automotive Interior Market

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Automotive Interior Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Automotive Interior Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Automotive Interior Market
• The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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According to the recent report  “Automotive Interior Market by Component (Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment System, Interior Lighting, and Seat), Vehicle Type (PV, LCV, and HCV), and Region – Global Forecast to 2022” published by MarketsandMarkets™, The automotive interior market is estimated to grow from USD 235.59 Billion in 2017 to USD 301.56 Billion by 2022, at a CAGR of 5.06%. The increase in demand for premium segment vehicles with advanced styling and a rise in demand for cabin comfort and convenience are the major growth factors for this market.

Browse in-depth TOC on “Automotive Interior Market”

79 – Tables
47 – Figures
117 – Pages

This report covers some of the leading players in the automotive interior market such as Continental AG (Germany), Lear Corporation (U.S.), Faurecia S.A. (France), Magna International (Canada), and others.

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The Passenger Vehicle (PV) segment is estimated to hold the largest share in the automotive interior market by vehicle type

The PV segment is estimated to have the largest share in the automotive interior market by vehicle type. The primary factor behind this is the high production of PVs compared to commercial vehicles. Also, the quality of automotive interior components desired by a consumer is relatively higher in PVs.

An Infotainment system is estimated to act as the fastest-growing segment of the automotive interior market by component

The infotainment system segment is projected to be the fastest-growing segment of the automotive interior market by component. Infotainment systems help the user to obtain information regarding time and temperature display, navigation, and other functions. The use of infotainment systems is observed across economy cars to premium cars; however, the quality of a display may vary accordingly. Touchscreen technology is now being increasingly used in various cars. For premium cars, touchscreens are now combined with haptic response systems, which provide a vibratory feedback when the button on the touch screen is tapped.

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The North American region holds the second-largest share in the automotive interior market in 2017

North America has been projected to hold the second-largest share of the automotive interior market in 2017. The North American automotive industry is advanced with powerful economies such as the U.S. and Canada present across this region. Some of the major OEMs such as General Motors, Ford Motors, and Fiat-Chrysler Automotive are present across this region. High consumer disposable income and a significant market for luxury cars, technologies such as advanced instrument cluster, infotainment, and navigation system have led to the growth of the automotive interior component market.

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