Automotive Interior Market is Anticipated to Touch USD 194.8 Billion By 2028 By CIOTechOutlook Team

Automotive Interior Market is Anticipated to Touch USD 194.8 Billion By 2028

CIOTechOutlook Team | Thursday, 17 August 2023, 03:19 IST

The value of the automotive interior market is anticipated to be USD 157.4 billion in 2023 and to increase to USD 194.8 billion by 2028, at a CAGR of 4.4% from 2023 to 2028. Increasing customer demand for comfort, premium amenities, and improved safety features, integration of smartphone connectivity, usage of a variety of lightweight & advanced materials, and inventive finish are just a few of the reasons that have an impact on the growth of the vehicle interior market.

Future market expansion for vehicle interiors is anticipated to be fueled by a number of important factors. Because they use less gasoline, lighter automobiles are becoming more and more popular. This is driving up demand for composite and polymer-based lightweight car interiors. In the upcoming years, driverless vehicles are anticipated to grow in popularity.

Since there will be no driver or passengers in these cars, their interiors will need to be designed differently than those of conventional automobiles. This is increasing the need for cutting-edge automobile interior solutions. Additionally, buyers are prioritizing greater comfort and luxury while buying cars. The demand for automotive interiors with extras like massage chairs, heated and ventilated seats, and premium audio systems is rising as a result.

Due to their expanding urban populations and economies, India, Canada, South Korea, Japan, and Brazil have boosted their investments in the development of the automotive industry. The demand for automobile interior components will increase during the projection period as a result of such investments.