Acumen research and consulting estimates that the global automotive trim market is anticipated to reach market size of around US$ 43,000 Mn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 – 2027. Automotive trims are the plastic parts mounted in the vehicle to enhance the vehicle's look and functionality. Trims used in an automotive describe vehicle's unique features. Various factors such as front & rear bumpers, dashboards, and similar others installed in a vehicle relative abundances trimmings that have a widespread scope in a vehicle. Many automotive component companies have created and presented lightweight, strong automotive components made of various polymers. These components have a wider application in an automobile, which effectively leads to global automotive trim market growth.
Increasing automotive production coupled with shifting consumer preference towards enhancing vehicle aesthetics will primarily drive automotive decorative outdoor trim market size over the forecasted period. Increasing demand in several countries for high-end luxury vehicles like Ferrari, BMW, and Mercedes stimulates industry growth. Increasing sales of SUVs due to affluence level, rough terrain and large family sizes will positively affect the size of industry. Increasing internet penetration, consumer awareness, and online technical data accessibility are enhancing "Do-It-Yourself or" DIY "customers in large countries, driving product demand. Surging disposable income, vehicle sales, and vehicle customization to enhance its aesthetic appearance propels automotive decorative outdoor trim market size.
Rise in production of vehicles
The automobile sector has seen rapid development in countries like China, the U.S., Japan , India, Germany , and the UK during the past decade. Initially, the global automotive industry focused on developed countries like Japan, the US, and Germany. However, manufacturers in developing countries like China, Thailand, and India have shifted their manufacturing facilities due to increased demand for automotive & automotive components in these countries. Low labor costs further reduce the cost of production, enabling manufacturers to meet the demand increases expected to boost the vehicle's sale during the forecast period. In addition, declining costs of electric vehicle components such as batteries, motor, and alternators are anticipated to fuel these vehicle sales. Such factors will contribute to global vehicle industry growth.
The market research study on “Automotive Trim Market (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) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global automotive trim market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global automotive trim market are material type, interior application, exterior application, vehicle type, end-use and major geographic regions. The automotive trim market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
Asia-Pacific is projected to be the largest markets share automotive trim durg forecast period main automotive trim sector. Significant vehicle production across the region, especially in developing countries including India, China , and Indonesia, will drive market growth over the forecast period. Increasing demand for automotive aesthetics among consumers will further generate strong impact on market. Europe is expected to be the fastest-growing automotive decorative exterior trim market driven by Italy , Spain and Poland with substantial growth over the forecast period.
Major players included in this report are Dura Automotive Systems Inc., Draexlmaier Group, Gemini Group Inc., Grupo Antolin, Intenational Automotive Components, GRONBACH, STS Group, Kasai Kogyo Co., Ltd., Toyata Boshoku Corp., TS Tech Co. Ltd, Trinseo, and other. Major players in the global automotive interior systems market are vertically integrating supply chain interiors to ensure they meet OEM demand and offer a wide range of automotive interior systems with low manufacturing costs. Moreover, with the acquisition of leading leather manufacturers by key market players in automotive seating systems, the raw material price for automotive seating systems is likely to decline and automotive seating manufacturers are expected to gain significant profit margins in the coming years. This factor will positively impact the automotive trim market.
The global automotive trim market is segmented as below:
Automotive Trim Market By Fabric Type
Automotive Trim Market By Vehicle Type
Automotive Trim Market By Application
Pre- assembled interior components
Automotive Trim Market By Geography
Middle East & Africa
Automotive trims are the plastic parts mounted in the vehicle to enhance the vehicle's look and functionality.
The automotive trim market value is anticipated to be worth around US$ 43,000 Mn in 2027.
The automotive trim market is anticipated to grow around 7% CAGR amid the forecast period 2020-2027.
The key players operating in automotive trim market such as Dura Automotive Systems Inc., Draexlmaier Group, Gemini Group Inc., Grupo Antolin, Intenational Automotive Components, GRONBACH, STS Group, Kasai Kogyo Co., Ltd., Toyata Boshoku Corp., TS Tech Co. Ltd, Trinseo, and other.
The report provides insights on global automotive trim market segment by fabric type, vehicle type, application, and major geographic regions.
Asia-Pacific is projected to be the largest markets share automotive trim durg forecast period main automotive trim sector.
The automotive trim market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.