Increase in demand for luxury & comfort in vehicles and a rise in production of vehicles boost the growth of the global automotive trim market. However, high replacement cost and growth in trade war and an increase in automotive import tariffs hamper the market growth. Conversely, rise in demand for lightweight components and untapped developing markets are expected to create huge opportunities for the growth of market in the coming years.
The automotive trims market is segmented into material type, interior application, exterior application, vehicle type, end use, and region. By material type, the market is categorized into acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyoxymethylene (POM), thermoplastic elastomer (TPE), and others. By interior application, it is classified into dashboards, door panels, and several other components. By exterior component, it is divided into bumpers, window & door seals, and others. ICE passenger vehicle, ICE commercial vehicle, battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV) are the different types of vehicles studied in the global market. Original equipment manufacturers (OEMs) and aftermarket are the different end users of the automotive trims. By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the global automotive trim market include Draexlmaier Group, Dura Automotive Systems Inc., Gemini Group, Inc., GRONBACH, Grupo Antolin, Intenational Automotive Components, Kasai Kogyo Co., Ltd., STS Group, Toyata Boshoku Corp., Trinseo, and TS Tech Co. Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global automotive trim market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
BY Material Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- Polyoxymethylene (POM)
- Thermoplastic Elastomer (TPE)
- Others
BY Interior Application
- Dashboard
- Door Panel
- Others
BY Exterior Application
- Bumpers
- Door & Window Seals
- Others
BY Vehicle Type
- ICE Passenger Vehicle
- ICE Commercial Vehicle
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
BY End Use
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Draexlmaier Group
- Dura Automotive Systems Inc.
- Gemini Group Inc.
- GRONBACH
- Grupo Antolin
- Intenational Automotive Components
- Kasai Kogyo Co., Ltd.
- STS Group
- Toyata Boshoku Corp.
- Trinseo
- TS Tech Co. Ltd
Table of Contents
Executive Summary
According to the report titled, 'Automotive Trim Market by Material Type, Internal Application, External Application, Vehicle Type and End Use: Opportunity Analysis and Industry Forecast, 2020-2027' the global automotive trims market was valued at $25.68 billion in 2019, and is projected to reach $43.35 billion by 2027, registering a CAGR of 6.9%.Asia-Pacific dominates the market in terms of growth, followed by LAMEA, Europe, and North America. China dominated the global automotive trim market share in 2019, whereas India is expected to grow at a significant rate in the automotive trim market during the forecast period.
Trims used in an automobile are the components made of plastic or polymer and are designed to perform various operations such as preventing the vehicle from damage caused by collision of vehicle. Trims used in a vehicle describes the special features of the vehicle and are described as trim level for a vehicle.. These include front and rear bumpers, door interior trims, and similar components which are designed to provide a better look to the vehicle. Numerous automotive component manufacturers have developed and introduced lightweight and strong automotive components made of different polymers.. These components have a wider application in an automobile, which effectively leads to the growth of the global automotive trims market.
Trims used in an automobile prevents the interiors of the vehicle from outer environment such as dust, dirt, water, noise, and others, thus providing comfort to the passengers in the vehicle. Automotive trims are more effective and powerful as compared to other components, owing to which they are exclusively incorporated in heavy vehicles. In addition, they witness increased demand for installation in vehicles, as they provide superior and effective protection to the vehicle and increase the comfort level of vehicles by reducing noise, thus leading to the growth of the automotive trim market.
Factors such as increase in demand for luxury & comfort in vehicles and rise in production of vehicles lead to the growth of the global automotive trims market. Moreover, high replacement cost, growth in trade war, and increase in automotive import tariffs are the factors expected to restrain the growth of the automotive trims market during the forecast period. However, rise in demand for lightweight components and untapped developing markets are the factors expected to supplement the global automotive trims market growth thus providing a better opportunity for the growth of the market in the near future.
Key Findings of the Study:
By interior application, the dashboard segment generated the highest revenue in 2019.
By exterior component, the bumpers segment generated the highest revenue in 2019, and is expected to lead the market during the forecast period.
By vehicle type, the battery electric vehicle segment is expected to experience a lucrative growth rate during the forecast period.
By end use, the original equipment manufacturer segment is projected to register a lucrative growth in 2027.
The key players analyzed in this report are Draexlmaier Group, Dura Automotive Systems Inc., Gemini Group, Inc., GRONBACH, Grupo Antolin, Intenational Automotive Components, Kasai Kogyo Co., Ltd., STS Group, Toyata Boshoku Corp., Trinseo, and TS Tech Co. Ltd.
Companies Mentioned
- Draexlmaier Group
- Dura Automotive Systems Inc.
- Gemini Group Inc.
- GRONBACH
- Grupo Antolin
- Intenational Automotive Components
- Kasai Kogyo Co. Ltd.
- STS Group Toyata Boshoku Corp.
- Trinseo
- TS Tech Co. Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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