Saudi Arabia Automotive Interior Market to be dominated by Passenger Car through 2027
The high demand for luxury vehicles and the rise in safety
concerns among consumers are driving the demand of Saudi Arabia automotive
interior market in the forecast period, 2023-2027.
According
to TechSci Research report, “Saudi Arabia Automotive Interior
Market By Region, Competition Forecast
& Opportunities, 2027”,
the Saudi Arabia automotive interior market is expected to witness robust CAGR
in the forecast period, 2023-2027. The growing focus of automobile
manufacturers on driver safety and convenience and the need to optimize the
fuel efficiency in an automobile are primarily driving the demand for the Saudi
Arabia automotive interior market. The automotive interior component includes
automotive seats, an infotainment system, interior lighting, a door panel, and
others that are installed to provide comfort, sound insulation, and grip while
driving an automobile. The adoption of advanced seating systems, smart lighting
systems in automobiles, and the high-end investments in developing comfortable
and convenient interiors are expected to boost the growth of the Saudi Arabia
automotive interior market in the forecast period.
However,
fluctuations in the prices of raw materials and the high manufacturing costs
may restrain the Saudi Arabia automotive interior market growth in the forecast
period.
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The
Saudi Arabia automotive interior market is segmented into vehicle type,
component, material, regional distribution, and competitive landscape.
Based
on vehicle type, the market is divided into passenger Car, LCV, and M&HCV.
The passenger car segment is expected to capture the highest market share over
the forecast period. The increased preference for private vehicle ownership and
the high disposable income of consumers are driving the demand for passenger
cars. The majority of automobile manufacturers use advanced techniques and
technologies to manufacture automotive interior components. They are
integrating advanced automotive interior components to enhance the
functionality of passenger cars.
The
commercial vehicle segment is expected to witness the fastest incremental
growth in the forecast period. The rise in the investments by the leading
authorities for the development of the industries is fueling the economic
activities in the country. Also, the growing popularity of e-commerce channels
owing to the high internet penetration and proliferation of smart devices is
boosting the demand for lightweight and heavyweight commercial vehicles. The growing
demand for commercial vehicles is expected to propel the demand for automotive
interior components over the next five years.
Based
on components, the market is divided into the center stack, display, seat, door
panel, headliner, interior lightings, dome module, infotainment system, and
others. The seat is expected to capture the highest market share in the
forecast period. Seats are an essential part of any passenger car and
commercial vehicle. The demand for seats is increasing rapidly due to the rise
in the production and sales of automobiles and the massive demand from
consumers for higher comfort and luxury. The automotive seats are essential for
any automobile to enhance the driving and passenger experience. The market
players are continuously investing in the technological evolution and are
coming up with advanced seats that support smart technology and can be
customized according to customers' needs.
Based
on material, the market is divided into leather, fabric, plastic, glass, wood,
and fiber. The fiber segment is anticipated to account for a significant market
share in the forecast period as the majority of the automotive interior
components, such as doors, headliners, and dashboards, are made up of fiber.
They are light in weight, have low impact resistance and cost, and are less
brittle. They can be molded in a variety of shapes and therefore are preferred
by manufacturers to manufacture automotive interior components.
Major
market players operating in Saudi Arabia automotive
interior market are:
·
Robert
Bosch GmbH
·
Continental
AG
·
Denso
Corporation
·
Panasonic
Corporation
·
Magna
International Inc.
·
Lear
Corporation
·
Faurecia
S.A.
·
Visteon
Corporation
·
Yanfeng
Automotive Interiors
·
Faurecia
SE
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“With the rise in environmental concerns
and the need to develop sustainable development, the government is promoting
the use of electric vehicles across the country. The government has said at
least 30% of cars should be electric by 2030 and aims to achieve net-zero
emission by 2060. Also, the government has agreed to buy between 50,000 and
100,000 electric vehicles in ten years from Lucid Motors, which is part-owned
by the Kingdom’s Public Investment Fund (PIF). The high sales of the electric
vehicles are fueling the demand for the light-weight and plastic automotive
interior components, which is expected to propel the growth of Saudi Arabia
automotive interior market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Automotive
Interior Market By Vehicle Type (Passenger Car, LCV, M&HCV), By Component
(Center Stack, Display, Seat, Door Panel, Headliner, Interior Lightings, Dome
Module, Infotainment System Others), By Material (Leather, Fabric, Plastic,
Glass, Wood, Fiber, etc.), By Region, Competition Forecast & Opportunities,
2027”, has evaluated the future
growth potential of Saudi Arabia automotive interior market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Saudi Arabia automotive interior market.
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