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Interior Car Accessories Market Promising Growth Opportunities over 2024

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.

Vendor information

Pioneer Corporation
Garmin Ltd.
Pecca Group Behad
Covercraft Industries, LLC
Lloyd Mats
Classic Soft Trim
CAR MATE MFG.CO.,LTD.
Pep Boys
O’Reilly Auto Parts
U.S. Auto Parts Network, Inc.
H.I Motors
These companies are focusing on a vertical integration of their supply chain. A common trend observed in the global interior car accessories market is that market leaders are targeting new markets with strategic mergers and acquisitions.

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Reasons to Purchase this Report:

Accuracy and Quality
Our reports strive to offer superior quality reports based on authentic and accurate findings.
Customer Satisfaction
We aim to ensure that our client’s research needs are met with customized, top-of-the-line solutions.
Unmatched Expertise
Our analysts and consultants are among the best in their field and promise to deliver excellent market intelligence.
360-degree Analysis
We leave no stone unturned to give clients an exhaustive coverage of the industry.

Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.

Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets.

Read all Automotive Market Insights here @ https://www.persistencemarketresearch.com/category/automotive-and-transportation.asp

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ABOUT US:

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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