The global interior vehicle accessories marketplace is envisioned to reach a marketplace valuation of US$ 267.14 Bn with the aid of the end of 2024, registering a CAGR of 5.6% in phrases of value over an 8-yr forecast duration (2016–2024). A new report posted by using Persistence Market Research titled “Interior Car Accessories Market: Global enterprise Analysis and Forecast, 2016-2024” examines the global interior automobile add-ons market from 2016 to 2024 and affords helpful insights on critical drivers and traits influencing the marketplace.
The international indoors car add-ons marketplace is labelled by means of product type into covers, digital accessories, knobs, consoles & organizers, car cushions & pillows, fragrance, verbal exchange, vehicle mats, central locking system, sprint kits, and sunshades; by vehicle kind into passenger vehicles and pickup trucks; via distribution channel into OEM and aftermarket; and by means of area into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. According to analysts at Persistence Market Research, the passenger automobiles segment is estimated to account for a bulk of the interior automobile accessories marketplace through the — eight of 2016 and is predicted to hold a market share of 92.Zero% with the aid of the quiet of the forecast period (2024).
Market dynamics
A developing purchaser inclination closer to an enjoyable riding revel in, growing demand for fast moving vehicle accessories, and rising vehicle customisation among a young populace are the key drivers predicted to fuel boom of the global interior vehicle add-ons marketplace over the forecast length. The growth of the quiet automobile industry and a next rise in the income of passenger motors and pickup vehicles are similarly likely to enhance the worldwide market for interior vehicle accessories.
The global market for interior vehicle accessories does face some challenges. “Availability of counterfeit and inferior high-quality digital accessories, which might be on the whole imported from Asian continents to different areas and fee competitiveness attributable to huge market fragmentation is predicted to impede the growth of the worldwide interior car add-ons marketplace over the forecast length.” — Business Analyst – Automotive, Persistence Market Research
Market highlights
By product type, the covers and digital accessories segments are together predicted to keep the highest sales share over the forecast duration. The covers section is envisioned to be worth US$ 36.46 Bn by way of the give up of 2016, up from US$ 34.Forty eight Bn in 2015. The digital accessories phase is estimated to account for the very best revenue percentage, valued at US$ 48.84 Bn through the give up of 2016.
By distribution channel, the aftermarket segment is predicted to account for seventy four.7% price percentage in 2016 and is projected to sign in a CAGR of five.2% over the forecast period.
Among areas, Europe is expected to account for the highest share of the global indoors vehicle accessories market over the forecast period, as a result of expanded customer spending on indoors automobile accessories inside the area. Europe is estimated to account for a sales share of 34.Zero% via the cease of 2016, registering a CAGR of five.Eight% over the forecast period. North America is in all likelihood to account for 20.1% sales share by the quit of 2024.
