Automotive Interior Component Market to Reach USD 355.5 Bn in 2022, States MRFR in Its Report Available at MarketPublishers.com
29 Jan 2018 • by Natalie Aster
LONDON – Owing to the economic development and the government incentives, individuals’ income levels in the emerging nations has seen steady increase. With income increasing amid individuals, there is scope of incrementing expenditure in the industries like automotive industry. A surging popularity of customisation in cars like interior lighting systems, instrument insert telematics and audio racks, has been continuously driving the car interior components marketplace gradually. The presently prospering automotive sector in tandem with steadily rising income levels of the mushrooming population is poised to contribute significantly the market growth.
The automotive industry is one of the most competitive ones from pole to pole. Dominant manufacturers across different continents are often in competition with one another to increase their customer base leading to fierce competition. This leads to a top-quality product delivered to the customers, which gives a boost to the car interior components market. The market is further projected to be driven by individuals’ surging income levels and the thriving world automotive industry, and is set to be valued at USD 355.5 billion by end-2022, recording a 7.07% CAGR.
APAC currently accounts for the largest market share and alongside the North American region is poised to stimulate the market growth owing to an ongoing upsurge in car sales activities.
In-demand research report “Global Automotive Interior Component Market – Trends & Forecast, 2016-2022” drawn up by MRFR provides a clear picture and an all-round analysis of the market on a global level.
The report discusses the factors affecting the market growth; includes a supply chain analysis and Porter’s five force analysis. It historical and projected market size in value terms of the market segments and sub-segments pertaining to regions and their respective top nations. The study offers current market size estimates and future forecasts for the major country markets. It includes market segmentation by vehicle type, component, and region. The study provides detailed profiles of the top 10 players in the market, exploring their core competencies, including a SWOT analysis, and scrutinises the competitive scenario of the market tracking and analysing the competitive developments like JVs, strategic alliances, M&As, NPDs, and R&D activities in the automotive interior components market.
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