Automotive Trim Market Size and Share Outlook 2023-2028: Industry Growth Analysis, Sales revenue, CAGR Status, Future Demand and Developments
Automotive Trim Market Size, Share, Growth, Trends and Forecasts 2023 - 2028
The new report by Expert Market Research titled, ‘Global Automotive Trim Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive trim market, assessing the market based on its segments like market by material types, interior applications, exterior applications, vehicle types, end uses and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 27.5 billion
- Forecast CAGR (2023-2028): 8.3%
- Forecast Market Size (2026): USD 36.8 billion
The expanding global sales of luxury automobiles such as sedans and convertibles are driving the expansion of the global automotive trim industry. The demand for exterior and interior trim components has increased in emerging countries due to rapid population growth and rising disposable expenditures. The deployment of interior trim solutions is expanding as consumers want cars with enhanced comfort and safety, and the market has seen healthy development. Additionally, producers are developing more consumer-centric goods by customizing exterior and interior trim pieces based on customer preferences, resulting in market development.
Automotive Trim Industry Definition and Major Segments
Automotive trims are plastic components found in automobiles that improve the appearance and features of the vehicle. They are used to depict the unique qualities of automobiles. Various components, such as dashboards and rear and front bumpers, are placed in automobiles to improve their functionality and appearance.
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Based on material type, the market is divided into:
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- Polyoxymethylene (POM)
- Thermoplastic Elastomer (TPE)
On the basis of interior applications, the market can be broadly classified into:
- Door Panel
Based on exterior applications, the market is segmented into:
- Window and Door seals
By vehicle types, the industry is bifurcated into:
- ICE Passenger Vehicle
- ICE Commercial Vehicle
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
On the basis of end uses, the market is segmented into:
- Original Equipment Manufacturers (OEMs)
The regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Automotive Trim Market Trends
The increasing growth of the vehicle industry in countries such as the United States, China, Japan, India, the United Kingdom, and Germany, among others, is propelling the worldwide market forward. In response to the growing market for automobile trims, companies are expanding their manufacturing facilities in developing countries. Many businesses are also integrating the most recent technical advancements and innovations, which are predicted to propel the automotive trim market forward in the approaching years. The market is expected to expand because to rising demand for automobile trims to reduce vibration, noise, and rough vehicle performance in order to improve comfort and durability. Furthermore, in the approaching years, rising usage of automotive lightweight materials is expected to have a substantial impact on the automotive trim industry.
Key Market Players
The major players in the market are DRÄXLMAIER Group, Siemens Aktiengesellschaft, KASAI KOGYO CO. LTD., DURA Automotive Systems, CIE Automotive, UFP Technologies, Inc., and Others.
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