Press release
Driving Innovation in Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors: Market Prospect Envisions $856.98 Billion by 2029
Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Size
What Is The Projected Market Size Of The Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market And Its Growth Rate?
• The market size demonstrated a robust growth from $548.07 billion in 2024 to $602.79 billion in 2025 at a CAGR of 10.0%.
• It is expected to grow to $856.98 billion in 2029 at a CAGR of 9.2%.
These growth trends can be attributable to advancements in automotive innovation, consumer demand for fuel efficiency, safety, and driver assistance systems, and the globalization of the automotive industry.
What Is Driving The Growth In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market?
Technological advancements such as the development by Li Auto Inc. of Li L6, a premium family SUV with a powerful dual-motor all-wheel-drive system, an interactive four-screen infotainment system, and advanced driver assistance features, have primarily driven the market growth. The global transport manufacturing industry has experienced numerous technological advances in the past decade, and this trend is expected to intensify, contributing significantly to market growth.
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Who Are The Key Players Driving Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Growth?
• SAIC Motor Corporation Limited
• FCA Fiat Chrysler Automobiles
• Hyundai Motor Company
• Robert Bosch GmbH
• Peugeot S.A.
• Denso Corporation
• Continental Aktiengesellschaft
• Magna International Inc.
• Faurecia S.E.
• Valeo S.A.
What Are The Key Trends In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market?
• Advanced driver assistance systems (ADAS)
• Augmented reality (AR) displays
• Lightweight materials in suspension systems
• Electronic stability control (esc)
• Advanced interior lighting systems
What Are The Segments Of The Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market?
• Motor Vehicle Electrical and Electronic Equipment
• Motor Vehicle Steering and Suspension Components (except Spring)
• Motor Vehicle Seating and Interior Trim
• Passenger Vehicle
• Commercial Vehicle
• OEM
• After market
Which Region Leads The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market?
Asia-Pacific led the Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market in 2024, followed by North America. Further, other key markets include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Global Market Report?
• Market Size Analysis
• Market Segmentation Analysis
• Key Player Focus
• Growth Trends Analysis
• Market Contribution
• Growth Drivers
• Industry Challenges
• Competitive Developments
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