Summary

The Europe automotive interiors market is valued at USD 65.18 billion in the current year. It is expected to reach USD 92.46 billion over five years, registering a CAGR of over 6.35% during the forecast period.

Over the long term, increasing passenger comfort became one of the most important considerations in the passenger car interior market. Components should take as little space as possible and provide the maximum level of comfort. As a result, consistent development is taking place in this regard. Trends such as personalization and autonomous driving, where the driver is increasingly becoming a passenger, are evolving vehicle interiors. Industry participants are working intensively on concepts for vehicle interior lighting with a variety of new functionalities. These can be adapted to the continuously changing requirements of passengers and driving situations.

Additionally, customers seek a safer, hands-free experience and the ability to access familiar voice assistants while driving, enhancing their overall driving and connectivity experience. Companies are launching and updating their products to offer voice assistants like Siri and Alexa, which is anticipated to fuel the demand for aftermarket infotainment systems.

The increasing consumer inclination toward an entertaining driving experience, coupled with rising vehicle customization among a young population, is considered the primary driving factor for the growth of the market during the forecast period. Nowadays, most people try to make themselves different from others. Car owners express their individuality using their vehicles, making them unique, more comfortable, and noticeable among other cars.

In addition, the active participation of car enthusiasts and users of premium sports and racing cars is enhancing the market's overall performance. Increased demand for aerodynamic kits, bumper tuning, exhaust system updation, etc., is expected to further augment the market in the coming years.

Europe Automotive Interiors Market Trends

Growing Popularity for Aftermarket Vehicle Modification

The demand for aftermarket interior lighting gained momentum among people due to customer desire to customize and personalize their vehicles. With aftermarket interior lighting, vehicle owners can add a unique touch to their cars, making them stand out from others on the road. In addition, aftermarket interior lighting even enhances the overall aesthetics of a car's interior, creating a more pleasant and inviting environment. For example, ambient lighting can provide a soft and warm glow that can make the interior feel more luxurious and comfortable.

Further, aftermarket interior lighting can improve visibility and safety while driving. As an example, LED lights are brighter and more energy-efficient than traditional incandescent bulbs. It provides better illumination of the car's interior and makes it easier to locate items. Additionally, some aftermarket lighting products, such as under-seat lighting, can improve visibility when getting in and out of the car, reducing the risk of accidents.

The increasing number of Gen-Z drivers and car enthusiasts who want to personalize their vehicles led to the demand on the positive side of the market segment. This Gen-Z demographic group is more interested in unique and personalized car modifications than in previous generations. Players operating in the aftermarket segment are offering ambient lighting, accent lighting, footwell lighting, LED strips, dashboard lighting, and door still lighting. Players are customizing these offers to match the consumer's preferences and needs, enhancing the overall aesthetics, visibility, and functionality of the car's interior.

However, compared to other regions, aftermarket interior lighting in Europe is growing steadily, albeit at a slightly slower pace compared to other regions like North America and Asia-Pacific. The country includes stringent regulations on vehicle lighting, which made it difficult for aftermarket players to introduce new lighting products into the market. However, some aftermarket players are developing lighting products that comply with European regulations, allowing them to expand their market share in the region.

Considering these factors, demand for interior lighting is anticipated to witness a moderate growth rate in the aftermarket landscape.

Germany is Anticipated to Lead the European Automotive Interiors Market

Germany is among the leading automobile producers in the world. Germany includes the largest and most dynamic economy in Europe. In addition, the country is also a leader in producing passenger cars among all member countries in the European Union. The German automotive industry accounts for more than 29% of the total EU automobile market. Germany's passenger car sales were around 2.65 million units in 2022.

International manufacturers and countries that are home to the global automotive industry, like Germany, also offer incredible market growth potential for the car modifications market. Germany's strong automotive industry, with many renowned automobile manufacturers, creates a thriving ecosystem for aftermarket modifications. HNWI and enthusiasts can access a wide range of advanced modifications available, including performance upgrades, electronic enhancements, and cutting-edge automotive technologies.

Further, the demand for interior lighting gained momentum among people due to customer desire to customize and personalize their vehicles. With aftermarket interior lighting, vehicle owners can add a unique touch to their cars, making them stand out from others on the road. In addition, aftermarket interior lighting even enhances the overall aesthetics of a car's interior, creating a more pleasant and inviting environment. For example, ambient lighting can provide a soft and warm glow that can make the interior feel more luxurious and comfortable.

Europe Automotive Interiors Industry Overview

The Europe automotive interiors market is consolidated and majorly dominated by a few players, such as Adient PLC, Faurecia, Groclin S.A, Recaro Group, and Grammer AG. The market is highly driven by factors like advanced technology, more comfort, growing investment in R&D projects, and a growing market of electric and autonomous vehicles around the region. To provide a more luxurious experience to the people, major automotive interior manufacturers are focusing on developing new products. For instance,

• In July 2023, at the IAA Mobility 2023 event in Munich, Germany, Faurecia announced its technology in three strategic growth areas: electrification and energy management, safe and automated driving, and digital and sustainable cockpit experiences. FORVIA will demonstrate seats, electronics, interiors, lighting, HMI, and displays that will help to reduce CO2 emissions in the cockpit.

Hence, such developments are expected to drive the European automotive interiors market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Popularity for Aftermarket Vehicle Modification May Drive the Market
4.2 Market Restraints
4.2.1 Stringent Regulations Against Modifications
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size in USD)
5.1 By Vehicle Type
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Component Type
5.2.1 Infotainment Systems
5.2.2 Instrument Panels
5.2.3 Interior Lighting
5.2.4 Body Panels
5.2.5 Other Component Types
5.3 By Country
5.3.1 Germany
5.3.2 United Kingdom
5.3.3 Italy
5.3.4 France
5.3.5 Netherlands
5.3.6 Spain
5.3.7 Switzerland
5.3.8 Norway
5.3.9 Sweden
5.3.10 Denmark
5.3.11 Belgium
5.3.12 Rest of Europe

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Adient PLC
6.2.2 Faurecia
6.2.3 Groclin S.A
6.2.4 Grupo Antolin
6.2.5 Recaro Group
6.2.6 Grammer AG
6.2.7 PRETTL Lighting & Interior GmbH
6.2.8 SKA Sitze GmbH
6.2.9 EFI Automotive Group
6.2.10 GUMOTEX Automotive B?eclav, sro

7 MARKET OPPORTUNITIES AND FUTURE TRENDS