The headliners, cockpit components, door panels, seats, and other interior components of a car are made to increase stability, comfort, and sound insulation. The marketability of a car is significantly influenced by the quality of the interior, trims, and other embellishments. Though seats are a necessary component of any passenger or commercial vehicle, the seat segment is anticipated to make up most of the automotive interior market during the forecast period. The sedan segment is also dominating the Indian auto interiors market as owning a car is increasingly seen as a sign of success. Customers are willing to pay more for sedans because they provide more space and have better interior designs.
According to Data Bridge Market Research, India Passenger Vehicle Interior Market is expected to reach the value at USD 1425.15 million in 2022, will reach USD 2376.39 million by 2030, growing at a CAGR of 6.6 % during the forecast period of 2023 to 2030.
"Future of connectivity and human-machine interfaces surge market demand"
Dashboard screens took the place of buttons, ushering in the HMI revolution in automobiles. Later, voice commands were introduced, and cars began to learn about their drivers. The development of human-machine interfaces allows drivers to interact with vehicle features in various ways. Together, manufacturers and IT firms are developing more ground-breaking and avant-garde HMI. Additionally, thanks to in-car infotainment systems, everyone in the vehicle will have access to the activities they want as well as connectivity to the outside world. Therefore, these educators are the ones driving the market for passenger vehicle interiors.
What restraints the growth of the India passenger vehicle interior market?
"Cost barriers can impede the market growth”
Despite recent price decreases, advanced automotive interior electronic components are more expensive. One expensive feature that is frequently found in premium passenger cars is the ability to massage the seats. This is so because buyers of luxury cars are prepared to shell out more money for convenience and modernity. Despite this, unless their price is reduced, these cutting-edge technologies won't be widely utilized in low-end or economic segment vehicles. All innovative and cutting-edge automotive interior components would be hampered as a result.
Segmentation: India Passenger Vehicle Interior Market
The India passenger vehicle interior market is segmented on the basis of engine type, vehicle type and model of channel, material type
- On the basis of component, the passenger vehicle interior market is segmented into cockpit module, central console, door panel, interior lighting, dome module, flooring, automotive seats, interior lightening, centre stack, instrumental cluster, rear seat entertainment, seat, adhesives and tapes, others.
- On the basis of engine type, the passenger vehicle interior market is segmented into hybrid and electric vehicle, ICE.
- On the basis of vehicle type, the passenger vehicle interior market is segmented into economic cars, mid segment cars, luxury segment cars.
- On the basis of mode of channel, the passenger vehicle interior market is segmented into OEM, aftermarket.
- On the basis of material type, the passenger vehicle interior market is segmented into leather, fabric, vinyl, wood, glass fiber composite, and carbon fiber composite, metal.
To know more about the study, visit, https://www.databridgemarketresearch.com/fr/reports/india-passenger-vehicle-interior-market
Recent Developments in India Passenger Vehicle Interior Market
- In 2022, A joint venture between Sony and Honda has been announced. Sony Honda Mobility will sell electric vehicles by 2025 and offer mobility services.
- In 2022, The highly anticipated New City e: HEV was unveiled by Honda Cars India Limited, a major premium automaker in India.
- In 2022, General Motors and Honda announced A new collaboration to co-create a line of reasonably priced electric vehicles. The new EVs will be built using next-generation Ultium battery technology and a new global architecture.
The Prominent Key Players Operating in the India Passenger Vehicle Interior Market Include:
- IAC Group. (Luxembourg)
- Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- Varroc Group. (India)
- Antolin (Spain)
- HELLA GmbH & Co. KGaA (Germany)
- FORVIA Faurecia (France)
- NTF GROUP. (India)
- Marelli Holdings Co., Ltd. (Italy)
- Injectoplast (India)
- Visteon Corporation. (U.S.)
- Motherson. (India)
- TACHI-S. (U.S.)
- Lear (U.S.)
- Automotive Industry Action Group (AIAG) (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of India passenger vehicle interior market companies contact, https://www.databridgemarketresearch.com/fr/contact
Research Methodology: India Passenger Vehicle Interior Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
