Interior Car Accessories Market Increasing Demand for Fast Moving Car Accessories Likely to Boost Growth Pioneer Corporation,Garmin Ltd.,Pecca Group Behad,Covercraft Industries,Lloyd Mats,Classic Soft Trim,O'Reilly Auto Parts,U.S. Auto Parts,H.I Motors

The global interior car accessories market is estimated to reach a market valuation of US$ 267.14 Bn by the end of 2024, registering a CAGR of 5.6% in terms of value over an eight-year forecast period (2016–2024). A new report published by Persistence Market Research titled “Interior Car Accessories Market: Global industry Analysis and Forecast, 2016-2024” examines the global interior car accessories market from 2016 to 2024 and provides useful insights on key drivers and trends influencing the market.

The global interior car accessories market is categorized by product type into covers, electronic accessories, knobs, consoles & organizers, car cushions & pillows, fragrance, communication, car mats, central locking system, dash kits, and sunshades; by vehicle type into passenger cars and pickup trucks; by distribution channel into OEM and aftermarket; and by region into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. According to analysts at Persistence Market Research, the passenger cars segment is estimated to account for a bulk of the interior car accessories market by the end of 2016 and is expected to hold a market share of 92.0% by the end of the forecast period (2024).

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Market dynamics

A growing consumer inclination towards an entertaining driving experience, increasing demand for fast moving car accessories, and rising vehicle customization among a young population are the key drivers expected to fuel growth of the global interior car accessories market over the forecast period. Growth of the global automotive industry and a subsequent rise in the sales of passenger cars and pickup trucks is further likely to boost the global market for interior car accessories.

The global market for interior car accessories does face some challenges. “Availability of counterfeit and inferior quality electronic accessories, which are mostly imported from Asian continents to other regions and cost competitiveness owing to huge market fragmentation is anticipated to hamper the growth of the global interior car accessories market over the forecast period.” --- Business Analyst – Automotive, Persistence Market Research

Market highlights

By product type, the covers and electronic accessories segments are collectively expected to hold the highest revenue share over the forecast period. The covers segment is estimated to be valued at US$ 36.46 Bn by the end of 2016, up from US$ 34.48 Bn in 2015. The electronic accessories segment is estimated to account for the highest revenue share, valued at US$ 48.84 Bn by the end of 2016.

By distribution channel, the aftermarket segment is estimated to account for 74.7% value share in 2016 and is projected to register a CAGR of 5.2% over the forecast period.

Among regions, Europe is expected to account for the highest share of the global interior car accessories market over the forecast period, owing to increased consumer spending on interior car accessories in the region. Europe is estimated to account for a revenue share of 34.0% by the end of 2016, registering a CAGR of 5.8% over the forecast period. North America is likely to account for 20.1% revenue share by the end of 2024.

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Key market drivers and restraints

A growth in the global automotive industry and a subsequent rise in the sales of passenger cars and pickup trucks is likely to boost the global market for interior car accessories. There is also a growing automotive aftermarket e-retailing in developed markets, which in turn is expected to drive growth of the interior car accessories market over the forecast period. A growing consumer inclination towards an entertaining driving experience, increasing demand for fast moving car accessories, and rising vehicle customization among a young population are some of the other factors expected to drive growth of the global interior car accessories market. Availability of counterfeit and inferior quality electronic accessories, which are mostly imported from Asian continents to other regions and cost competitiveness due to huge market fragmentation are some of the factors anticipated to hamper the growth of the global interior car accessories market over the forecast period.

Segmentation overview and forecast

The global interior car accessories market is categorized by product type (covers, electronic accessories, knobs, consoles & organizers, car cushions & pillows, fragrance, communication, car mats, central locking system, dash kits, sunshades), vehicle type (passenger cars, pickup trucks), and distribution channel (OEM, aftermarket).

By product type, the electronic accessories segment is anticipated to maintain a dominant share of the global interior car accessories market over the forecast period and expand at a value CAGR of 5.4% during the period 2016–2024. The covers segment is anticipated to increase in value from US$ 36.46 Bn in 2016 to US$ 61.59 Bn by 2024, registering a CAGR of 6.8% over the forecast period.

By vehicle type, the passenger cars segment is expected to dominate the global interior car accessories market in terms of value over the forecast period. This segment is expected to account for 93.0% value share in 2016 and is projected to register a CAGR of 5.4% over the forecast period. In terms of value and volume, the pickup trucks segment is expected to expand at a higher CAGR in comparison to the passenger cars segment during the forecast period.

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Table of Contents:

1. Executive Summary

2. Market Taxonomy

3. Global Interior Car Accessories Market Scenario
3.1. Pricing Analysis
3.2. Global Interior Car Accessories Market Scenario Forecast (Value)
3.3. Market Size (US$ Mn) and Forecast
3.3.1. Absolute $ Opportunity
3.4. Market Overview
3.4.1. Value Chain
3.4.2. Profit Margin Analysis
3.4.3. List of Interior Car Accessories Manufacturers & Suppliers
3.4.4. Consumer Spending Analysis

4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Forecast Factors – Relevance and Impact

5. Global Interior Car Accessories Market Analysis and Forecast, By Product Type
5.1. Global Interior Car Accessories Market Summary, By Product Type
5.2. Market Size (US$ Mn) and Volume ('000) Forecast By Product Type
5.2.1. Covers
5.2.1.1 Seat Covers
5.2.1.1.1 Fabric Seat Cover
5.2.1.1.2 Leather Seat Cover
5.2.1.2 Dash Covers
5.2.1.3 Seat Belt Covers
5.2.1.3.1 Fabric Seat Belt Covers
5.2.1.3.2 Leather Seat Belt Covers

6. Global Interior Car Accessories Market Analysis and Forecast, By Vehicle Type
6.1. Global Interior Car Accessories Market Summary, By Vehicle Type
6.1.1. Basis Point Share (BPS) Analysis By Vehicle Type
6.2. Market Size (US$ Mn) and Volume ('000) Forecast By Vehicle Type
6.2.1. Passenger Cars
6.2.1.1 Compact PC
6.2.1.2 Mid-size PC
6.2.1.3 Premium PC
6.2.1.4 Luxury PC

7. Global Interior Car Accessories Market Analysis and Forecast, By Distribution Channel
7.1. Global Interior Car Accessories Market Summary, By Distribution Channel
7.1.1. Basis Point Share (BPS) Analysis By Distribution Channel
7.2. Market Size (US$ Mn) and Volume ('000) Forecast By Distribution Channel
7.2.1. OEM
7.2.2. Aftermarket
7.3. Market Attractiveness Analysis By Distribution Channel

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