India Passenger vehicle interior Market By Component (Cockpit Module, Central Console, Door Panel, Interior Lighting, Dome Module), Vehicle Type (Sedan, Sport Utility Vehicle (SUV), Hatchback, Coupe), Mode of Channel (OEM, Aftermarket), Market Trends and Forecast to 2027
Market Analysis and Insights: India Passenger Vehicle Interior Market
Passenger vehicle interior market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2020 to 2027and expected to reach USD 1,889.34 million by 2027 from USD 1,176.49 million in 2019. Government initiatives to control vehicle emissions and strong investment from the vehicle manufacturer are the factors for the market growth.
Passenger vehicle interior is an essential part of the vehicle as it reflects the customer’s individuality as well as provides the comfort and innovative design to vehicles. The personalized feature, safety, aesthetics looks and increased accessories are offered by advanced passenger vehicle interior market. Technological advancement as well as new lightweight materials brought innovative design and products in the market for vehicle manufacturers to enhance safety and look of vehicles. Passenger vehicle interiors plays important role in buying decision of vehicle as it provide safety, comfort and mainly represents the vehicle aesthetics.
Increased number of passenger vehicle as compared to the past few years will accelerate the market growth. Government is introducing some stringent regulation to enhance passenger safety in vehicle interior is also increasing the demand of passenger interior vehicle. For instance, in July 2019, Government introduced new rule to improve passenger safety in vehicle such as the passenger car must include driver-side airbag as well as stronger structures of car to meet the safety norms. Such demand of safety features will bring the change in vehicle interior which drive the passenger vehicle interior in Indian market.
This passenger vehicle interior market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
India Passenger Vehicle Interior Market Scope and Market Size
India passenger vehicle interior market is segmented of the basis of component, vehicle type, and mode of channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on component, the market is segmented into cockpit module, central console, door panel, interior lighting, dome module and others. The cockpit module is dominating the market as there is technological advancement such as digitalisation as well as increased electronics is driving the segment growth. For instance, in May 2018, Visteon, a manufacturer of cockpit electronics is targeting the Indian passenger vehicle interior market by introducing SmartCore cockpit domain controller solution for OEM manufactures. The company is targeting the interior segment of passenger vehicles specifically a cockpit segment as their huge demand for digital solutions as well as electronics.
Based on vehicle type, the market is segmented into sedan, sport utility vehicle (SUV), hatchback and coupe. The sedan segment is dominating the Indian vehicle interior market as having own vehicle is becoming a status symbol of life standard. Consumers are spending extra money to purchase sedan vehicles as it offers increased space with enhanced interior designs. For instance, in January 2019, BMW, a well-known brand of premium vehicles registered growth of 11 percent for year 2018 comparing to year 2017. Company sold around 10,405 units of BMW 5 series and the 6 series models which are popular sedans in Indian market. Such acceptance of premium vehicle sedans in Indian market is driving the India interior passenger vehicle interior market.
The India passenger vehicle interior market is also segmented on the basis of mode of channel. The passenger vehicle interior market, by mode of channel, is segmented into OEM and aftermarket. The OEM segment is dominating the market for the forecasted period. Increasing per capita income of India as well as increased production of passenger vehicle is driving the OEM segment. For instance, in April 2019, according to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle segment witnessed a growth of 2.70 percent comparing to the April 2018 passenger vehicle sales. Such increased production and consumption in Indian market is driving the growth of OEM passenger vehicle interior market.
Passenger Vehicle Interior Market Country Level Analysis
The India passenger vehicle interior market is analysed and market size information is provided by country by component, vehicle type and mode of channel as referenced above.
Country Level Analysis, By Vehicle Type
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Indian brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels while providing forecast analysis of the country data.
Huge Investment by Automakers for Passenger Vehicle Interiors and Rise in Vehicle Interiors Electronics Components
India passenger vehicle interior market also provides you with detailed market analysis for every country growth in automotive industry with passenger vehicle interior sales, components sales, impact of technological development in batteries and changes in regulatory scenarios with their support for the passenger vehicle interior market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Passenger Vehicle Interior Market Share Analysis
India passenger vehicle interior market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, India presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to India passenger vehicle interior market.
The major players covered in the report are IAC Group, Robert Bosch LLC., Continental AG, Varroc Group., Grupo Antolin, HELLA GmbH & Co. KGaA, Faurecia, NTF India Pvt. Ltd., Marelli Corporation, Injectoplast, Visteon Corporation, Samvardhana Motherson Group, TACHI-S., Lear Corporation. and PPAP, among other players. Passenger vehicle interior market share data is available for India. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the India passenger vehicle interior market.
- In June 2018, Robert Bosch LLC. and Mojio formed partnership for innovation agreement. Bosch made strategic investment in Mojjo to deliver the advanced connected car services. The innovation will be carried out to detect the crash, diagnostics and notify. The partnership helped the company to develop advance solution for passenger vehicle interior products.
- In May 2017, Faurecia and ZF Friedrichshafen AG, a car part manufacturing company formed partnership to develop new products for vehicle interiors. Through this the company strengthened their product portfolio as well as offering for the global customer base.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for passenger vehicle interiors through expanded model range.
Customization Available : India Passenger Vehicle Interior Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), concept cars, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.