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Tuesday, January 11, 2022

Global Automotive Trim Market to be Driven by Rise in Technological Advancement in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Automotive Trim Market Report and Forecast 2021-2026’, 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.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 5 billion
  • Forecast CAGR (2021-2026): 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.

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)
  • Others

On the basis of interior applications, the market can be broadly classified into:

  • Dashboard
  • Door Panel
  • Others

Based on exterior applications, the market is segmented into:

  • Bumpers
  • Window and Door seals
  • Others

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)
  • Aftermarket

The regional markets include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report


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