Global Interior Car Accessories Market Overview, 2023-28

Interior car accessories are add-ons that enhance the interior aesthetics of the vehicle and provide an overall entertaining and comfortable riding experience. A wide range of interior car accessories are available on the market, each serving different purposes, such as seat covers, steering wheel covers, car stereos, speakers, automotive navigation systems, and car mats, among others. The development in the global automotive industry and a resulting increase in sales of passenger cars and pickup trucks are expected to boost the global demand for interior car accessories. There is also an increasing automotive aftermarket e-retail presence in developing markets, which is expected to fuel the growth of the interior car accessories industry over the forecast period. The rising consumer preference for exciting driving experiences, the growing demand for fast-moving car accessories, and increased vehicle customization among young consumers are some of the factors likely to fuel the growth of the global market for indoor car accessories in the coming years. The future of the global automotive interior material market looks promising with opportunities in the passenger car and commercial vehicle segments. According to the research report, "Global Interior Car Accessories Market Overview, 2023–28," published by Bonafide Research, the market is anticipated to reach a size of over USD 352 billion, up from USD 251.14 billion in 2022. The market is projected to grow at around 6% CAGR by 2023–28. The major growth drivers for this market are increasing vehicle production, growing demand for advanced vehicle safety and comfort systems, and rising demand for premium aesthetic vehicles with lightweight interior materials. Emerging trends, which have a direct impact on the dynamics of the industry, include increasing demand for smart fabrics and increasing demand for natural fibre composites in vehicle interiors. This is due to increasing sales of passenger cars combined with rising sales of pickup trucks. Hence, sales of passenger cars and pickup trucks are expected to boost sales of interior car accessories. As a result of these factors, the global interior car accessories market is expected to grow during the forecast period. The automotive aftermarket e-retailing industry is expanding, especially in developed regions such as Europe and North America. A wide array of automotive parts and accessories are being sold via automotive aftermarket e-retailers such as AutoZone, Pep Boys, and Carid.com.

A growing consumer inclination towards an entertaining driving experience, increasing demand for fast-moving car accessories, and rising vehicle customization among a young population are the key drivers expected to fuel growth of the global interior car accessories market over the forecast period. The expansion of the global automotive industry, as well as the subsequent increase in sales of passenger cars and pickup trucks, is expected to boost the global market for interior car accessories. Based on the car types, the global market is segmented into small-sized cars, mid-sized cars, SUVs, MPVS, luxury cars, and pickup trucks such as the Toyota Tacoma, Ford Ranger, Jeep Gladiator, Chevrolet Colorado, GMC Canyon, and Hyundai Santa Cruz. Among them, SUVs are projected to lead the market by the end of the forecast period. Automotive interiors refer to fitting together all the components of the car while maintaining its aesthetics and comfort. It plays a vital role in vehicles’ performance, aesthetic appeal, and scalability, and consists of the infotainment system, body panels, instrument panels, and others. The automotive interior is used to provide a comfortable seating experience for passengers in vehicles. The main types of vehicles in automotive interiors are passenger cars and commercial vehicles. A passenger car refers to a road motor vehicle that is intended for the carriage of passengers from one place to another. Automotive interiors are designed to provide comfort and safety for riding passengers. Based on the report, the market is segmented into electronics accessories, consoles and organizers, mats, interior covers, central locking systems, armrests, communication systems, dash kits, sunshades, interior lighting, air fresheners, interior chrome accessories, and others. Among them, nearly half of the market is occupied by electronics accessories, which include car audio, car video, car chargers, mobile holders, car vacuum cleaners, inflators and compressors, car Bluetooth accessories, car GPS tracker and navigation, reverse parking systems, etc. Rising consumer preference towards automotive interiors as well as increasing sales of new and pre-owned vehicles will positively influence market growth. Furthermore, its ability to retain vehicle value by protecting seats from wear, stain, and starch will significantly drive industry expansion. Shifting consumer preferences towards biodegradable and environmentally friendly materials will primarily spur seat cover demand in the automotive sector. As new features for seat covers, technological advancements and product innovations such as removable trim and heated seat covers have significantly emerged. Moreover, the introduction of several lightweight and new structural materials, such as polyester, vinyl, and polyurethane, will have an opportunistic impact on product demand in the industry. Based on the report, the global market is categorised into five major regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among them, the Asia-Pacific region is leading the market in 2022. As the disposable income of consumers in the Asia-Pacific region increases, there has been a growing demand for luxury cars. This has led to an increase in demand for high-end interior car accessories such as premium seat covers, leather upholstery, and customised floor mats. Further, the market is segmented into two types of distribution channels, including OEM and aftersales. Among them, the aftersales segment is leading the market. With demand for pickup trucks and passenger cars escalating day after day, the market for interior car accessories is bound to witness an explosion in the upcoming period. Also, the developed regions are onto aftermarket e-retailing, which is catalysing the interior car accessory market. Fast-moving car accessories are there, along with vehicle customizations, to drive the market further. A broad spectrum of interior car accessories is being made available on the market, each of them serving a diverse purpose. They are inclusive of steering wheel covers, seat covers, speakers, car stereos, car mats, and automotive navigation systems. The growing inclination of customers towards an all-entertaining experience while driving or travelling is another factor expediting the interior car accessory market. Fast-moving car accessories are also on the anvil. Additionally, the fact that the youth are more into vehicle ownership can’t be ignored. Also, they are more into getting their vehicles personalized. This prompts the manufacturers to go for enchanting aesthetics. It could be inferred that the population aged between 18 and 30 contributed to the maximum market share, and the situation is not bound to change anytime in the upcoming period. At the same time, it needs to be noted that with inferior quality and counterfeit electronic accessories flooding the market, the interior car accessory market is expected to get hampered. With proper rules and regulations regarding quality checks in place, these restraints could be overcome.

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Manmayi Raval

Research Consultant

Covid-19 Impacts: The global pandemic has affected almost every sector in the world. The automotive interior materials market is expected to be moderately affected due to disruptions in the global supply chain. The market is highly dependent on the refinery and petrochemical, chemical, metal, and power generation industries. China is a major market for exports and industrial production. Strict lockdowns in the country's major provinces hampered industrial activity. The demand for industrial equipment declined significantly in the first quarter of 2020, mainly due to the outbreak of COVID-19. China is among the largest producers of automobiles. However, disruptions in the supply of raw materials have weakened the production of automotive interior materials in the country. Major Companies present in the market: Continental AG, Grupo Antolin, HYUNDAI MOBIS, IAC Group., Visteon Corporation. , Truck Hero, Inc., Car Mate Mfg.Co.,Ltd., Ficosa International SA., Pioneer, Garmin Ltd. Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report • Global Interior Car Accessories market with its value and forecast along with its segments • Region-wise Interior Car Accessories market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report: • North America • Europe • Asia-Pacific • South America • Middle-East & Africa By Accessories Type: • Electronics Accessories (Car Audio, Car Video, Car Chargers, Mobile Holders, Car Vacuum Cleaners, Inflator and compressor, Car Bluetooth Accessories, Car GPS Tracker & Navigation, Reverse Parking System, etc.) • consoles and organizers • Mats • Interior Covers • Central Locking Systems • Armrest • Communication System • Dash Kits • Sunshades • Interior Lighting • Air Freshener • Interior Chrome Accessories • Others (Seat Neck Cushion, Gear Knobs, etc.) By Distribution Channel: • OEM • Aftermarket By Vehicle Type • Small-sized Cars • Mid-sized Cars • SUVs • MPVs • Luxury • Pickup Trucks (Toyota Tacoma, Ford Ranger, Jeep Gladiator, Chevrolet Colorado, GMC Canyon, Hyundai Santa Cruz) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Interior Car Accessories industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.