Automotive Headliner Market | Growth Opportunities, Business Insights
The automotive headliner market size is projected to be valued at US$ 19,391.9 Mn in 2023 and is expected to rise to US$ 30,695.1 Mn by 2033. The sales of automotive headliner market are expected to grow at a significant CAGR of 4.7% during the forecast period.
Key Takeaways from the Automotive Headliners Market
Passenger cars to dominate the segment with 84.3% share in global market.Automotive headliners play an important role in providing an attractive interior design for various passenger vehicles in order to attract customers in a competitive marketplace.
The synthetic cloth segment will dominate the material segment with share of over 23.21%. As synthetic fabrics are versatile and long-lasting, they are a popular choice for automotive interiors and among manufacturers.
Germany is set to grow at 6.4% by 2033 due to the favorable policies by European Union's in implementing strict emission regulations and focusing on reducing the kerb weight of vehicles.
The rising mergers and collaborations as well as the expansion in headliners manufacturing facilities among eminent manufacturers in U.K would lead its market growth trajectory to 4.3% by 2033.
S. to dominate the revenue share with 15.3% contribution in the global markets. U.S.had witnessed high sales in sports and luxury vehicles due to growing disposable income and high availabilities.
India would be the most lucrative market among other regions with a growth trajectory of 5.3% by 2033. Growing vehicle manufacturing facilities and high emphasis on vehicle safety and standards shows an opportunistic prospect for Indian market.
Rising demand for passenger vehicles, strict government regulations or initiatives encouraging the use of lightweight designed auto parts are the major factors proliferating market growth.
Rising demand for advanced and high-quality interior design or styling within vehicles, have all contributed to the growth of the automotive headliner market.
In the long run, advances in the development of sustainable/Eco-friendly materials for automotive applications, as well as increased investments in electric vehicle development, are expected to increase demand for automotive headliners.
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Furthermore, the growing trend of improving vehicle interior cabin appearances while maximising passenger comfort, rising demand for luxury or premium vehicles, and investments in autonomous vehicles will drive demand for automotive roof headliners in the coming years.
Automobile headliner suppliers have increased opportunities to supply enormous volumes of products and benefit from economies of scale, which will increase OEMs' reliance on suppliers for growth.
The rising trend of adopting innovative technologies with concern of environment facilities would provide immense opportunities for market to grow.
Competitive Landscape
Continental AG, Magna International Inc., Denso Corporation, Faurecia, Adient, and others are key automotive interior market participants. The automotive interiors market is likely to face competition in the coming years as a result of various strategies used by major product manufacturers to gain a competitive advantage, such as focused research and development activities, new product developments, acquisitions, and so on.
Latest Developments in the Automotive Headliner Market
Oracle Lighting introduced the new StarLINER ColorSHIFT Fiber Optic hardtop headliner in October 2020. The product is intended for use in the Gladiator JT and Warngler JL vehicle models.
International Automotive Components (IAC Group) announced the expansion of its presence in the United Kingdom in July 2019. This will be accomplished by expanding the headliner manufacturing facility in Elmdon.
SEAT will reveal Ku-Fizz, a novel physical foam technology for automotive headliners that reduces the weight of plastic components, at its 2nd Innovation Day in November 2020, as part of an initiative to increase sustainable materials in the automotive sector.