The Europe automotive interiors market is poised to register a CAGR of over 6% during the forecast period (2020 - 2025).
- Increasing passenger comfort has become one of the most important considerations in the passenger car interiors market. Components should take as little space as possible and provide the maximum level of comfort. As a result, consistent development is taking place in this regard.
- Trends such as personalization and autonomous driving where the driver is increasingly becoming a passenger are evolving vehicle interiors. Industry participants are working intensively on concepts for vehicle interior lighting with a variety of new functionalities and which can be adapted to the continuously changing requirements of passengers and driving situations.
- In 2019, the overall vehicle production in Europe declined due to the Brexit and global economic slowdown. Despite that, Europe holds a significant market share in the global automotive interiors market. According to European Automobile Manufacturers' Association (ACEA), in the first six months of 2019, EU passenger car exports represented a value of Euro 62 billion a decline of 4.7% from last year's first half.
Key Market Trends
Electric Vehicles and Autonomous Vehicles will Fuel the Growth of Automotive Interiors Market
The factor which is likely to fuel the demand of the automotive interiors industry in Europe is the growing production of electric vehicles. Leading automotive OEMs and interiors manufacturers are spending of huge amount on research and development of interiors for future vehicles.
- For instance, in January 2020, Grupo Antolin and Eyesight Technologies have entered into a collaboration agreement to offer innovative solutions for the future electric, connected and autonomous vehicles, by applying the full technological potential of driver and passenger monitoring systems inside the vehicle.
- In another instance, Mercedes-Benz autonomous vehicle which it has introduced at the Tokyo motor show has, no front or back interiors in place of that there is an oval-shaped couch. Also, there are wraparound LED screens behind the passengers, and displays from the infotainment system will be displayed as 3-D holograms.
Germany is Anticipated to Lead the European Automotive Interiors Market
Germany is among the leading automobile producer in the world. Germany has the largest and most industrious economy in Europe. In addition, the Country is also a leader in producing passenger cars amongst all member countries in the European Union. The German automotive industry accounts for more than 29% of the total EU automobile market.
Germany's automotive market reflected a steady growth trajectory in 2019 despite weak market sentiment in overall car sales. The overall car sales of the country decreased by around 10% in 2019 compared to 2018 first half. The country headquarters of most of the luxury cars OEMs and tier players, the automotive interior manufacturers are doing a partnership with other technology players to develop next-gen technology for future vehicles. For instance
- In 2019, Grammer AG presents new seating technology in the trade fair for agricultural technology Its MSG 283/421 driver's seat, specially designed for small and medium-sized tractors, this seat offers great comfort in a small space.
- In 2018, Grupo Antolin and Walter Pack entered a strategic partnership to develop decorative parts for automotive interiors. After this partnership, Grupo Antolin will hold 40% stake in the Spanish company.
The Europe automotive interiors market is consolidated and majorly dominated by few players, such as Adient PLC, Faurecia, Groclin S.A, Recaro Group, and Grammer AG. The market is highly driven with factors like advanced technology, more comfort, growing investment in R&D projects and growing market of electric and autonomous vehicles around the region. To provide more luxurious experience to the people, major automotive interiors manufacturers are making joint venture with interiors manufacturers. For example,
- In 2019, Yanfeng Automotive Interiors(YFAI) a joint venture between automotive components giant Yanfeng, and Adient, opened a new plant in Serbia. This JV also has production plants in Hungary, the Czech Republic and Slovakia.
- In February 2020, Yanfeng demonstrates its new Smart Surface Demonstrator. It consists of seven intuitive human-machine interface solutions that are smoothly integrated into different surfaces.
- In 2018, Hella and Faurecia have entered strategic partnership to develop lighting solutions with innovative high-technology content in the field of surface-lighting and dynamic-lighting for a substantial personalized cockpit environment.
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Table of Contents
1.2 Scope of the Study
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Component Type
5.2.1 Instrument Panels
5.2.2 Infotainment Systems
5.2.3 Interior Lighting
5.2.4 Body Panels
5.2.5 Other Component Types
5.3 By Country
5.3.2 United Kingdom
5.3.12 Rest of Europe
6.2 Company Profiles
6.2.1 Adient PLC
6.2.3 Groclin S.A
6.2.4 Grupo Antolin
6.2.5 Recaro Group
6.2.6 Grammer AG
6.2.7 PRETTL Lighting & Interior GmbH
6.2.8 SKA Sitze GmbH
6.2.9 EFI Automotive Group
6.2.10 GUMOTEX Automotive B?eclav, sro
A selection of companies mentioned in this report includes:
- Adient PLC
- Groclin S.A
- Grupo Antolin
- Recaro Group
- Grammer AG
- PRETTL Lighting & Interior GmbH
- SKA Sitze GmbH
- EFI Automotive Group
- GUMOTEX Automotive B?eclav, sro