The high demand for luxury vehicles and the rise in safety concerns among consumers are driving the demand of Saudi Arabia automotive interior market in the forecast period, 2023-2027.
According to TechSci Research report, “Saudi Arabia Automotive Interior Market By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia automotive interior market is expected to witness robust CAGR in the forecast period, 2023-2027. The growing focus of automobile manufacturers on driver safety and convenience and the need to optimize the fuel efficiency in an automobile are primarily driving the demand for the Saudi Arabia automotive interior market. The automotive interior component includes automotive seats, an infotainment system, interior lighting, a door panel, and others that are installed to provide comfort, sound insulation, and grip while driving an automobile. The adoption of advanced seating systems, smart lighting systems in automobiles, and the high-end investments in developing comfortable and convenient interiors are expected to boost the growth of the Saudi Arabia automotive interior market in the forecast period.
However, fluctuations in the prices of raw materials and the high manufacturing costs may restrain the Saudi Arabia automotive interior market growth in the forecast period.
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The Saudi Arabia automotive interior market is segmented into vehicle type, component, material, regional distribution, and competitive landscape.
Based on vehicle type, the market is divided into passenger Car, LCV, and M&HCV. The passenger car segment is expected to capture the highest market share over the forecast period. The increased preference for private vehicle ownership and the high disposable income of consumers are driving the demand for passenger cars. The majority of automobile manufacturers use advanced techniques and technologies to manufacture automotive interior components. They are integrating advanced automotive interior components to enhance the functionality of passenger cars.
The commercial vehicle segment is expected to witness the fastest incremental growth in the forecast period. The rise in the investments by the leading authorities for the development of the industries is fueling the economic activities in the country. Also, the growing popularity of e-commerce channels owing to the high internet penetration and proliferation of smart devices is boosting the demand for lightweight and heavyweight commercial vehicles. The growing demand for commercial vehicles is expected to propel the demand for automotive interior components over the next five years.
Based on components, the market is divided into the center stack, display, seat, door panel, headliner, interior lightings, dome module, infotainment system, and others. The seat is expected to capture the highest market share in the forecast period. Seats are an essential part of any passenger car and commercial vehicle. The demand for seats is increasing rapidly due to the rise in the production and sales of automobiles and the massive demand from consumers for higher comfort and luxury. The automotive seats are essential for any automobile to enhance the driving and passenger experience. The market players are continuously investing in the technological evolution and are coming up with advanced seats that support smart technology and can be customized according to customers’ needs.
Based on material, the market is divided into leather, fabric, plastic, glass, wood, and fiber. The fiber segment is anticipated to account for a significant market share in the forecast period as the majority of the automotive interior components, such as doors, headliners, and dashboards, are made up of fiber. They are light in weight, have low impact resistance and cost, and are less brittle. They can be molded in a variety of shapes and therefore are preferred by manufacturers to manufacture automotive interior components.
Major market players operating in Saudi Arabia automotive interior market are:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Panasonic Corporation
- Magna International Inc.
- Lear Corporation
- Faurecia S.A.
- Visteon Corporation
- Yanfeng Automotive Interiors
- Faurecia SE
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“With the rise in environmental concerns and the need to develop sustainable development, the government is promoting the use of electric vehicles across the country. The government has said at least 30% of cars should be electric by 2030 and aims to achieve net-zero emission by 2060. Also, the government has agreed to buy between 50,000 and 100,000 electric vehicles in ten years from Lucid Motors, which is part-owned by the Kingdom’s Public Investment Fund (PIF). The high sales of the electric vehicles are fueling the demand for the light-weight and plastic automotive interior components, which is expected to propel the growth of Saudi Arabia automotive interior market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Automotive Interior Market By Vehicle Type (Passenger Car, LCV, M&HCV), By Component (Center Stack, Display, Seat, Door Panel, Headliner, Interior Lightings, Dome Module, Infotainment System Others), By Material (Leather, Fabric, Plastic, Glass, Wood, Fiber, etc.), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia automotive interior market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia automotive interior market.
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