Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Interior car accessories are additional components that augment the interior aesthetics of the vehicle and provide overall entertaining and comfortable riding experience. Since the automotive sector has expanded significantly in the recent past, with car accessories witnessing significant demand across the globe. A vehicle’s interior is comprised of cockpit modules, automotive seats, door panels, headliners, etc. Furthermore, interior trims, upholstery, and other adornments are crucial components in providing aesthetic appearance to the car. The global interior car accessories market focuses on five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The global Interior Car Accessories Market was accounted for US$ 202,938.9 Mn in terms of value and 803,8563.5 Thousand Units in 2019 and is expected to grow at CAGR of 5.6% for the period 2020-2027.

Market Dynamics- Drivers

  1. High growth in automotive industry is expected to drive growth of the global interior car accessories market during the forecast period

The automotive industry has witnessed stable growth in the recent past following the economic crisis. According to Coherent Market Insights’ analysis, the global automotive industry is expected to be valued at US$ 87.5 billion by 2020. This is owing to increasing sales of passenger cars combined with rising sales of pickup trucks. Hence, sales of passenger cars and pickup trucks are expected to boost sales of interior car accessories. Thus, these factors are expected to drive growth of the global interior car accessories market during the forecast period.

  1. Rapid growth automotive aftermarket e-retailing in developed countries is expected to propel the global interior car accessories market growth over the forecast period

The automotive aftermarket e-retailing is expanding, especially in developed regions such as Europe and North America. A wide array of automotive parts and accessories are being sold via automotive aftermarket e-retailers such as AutoZone, Pep Boys, and Carid.com. Thus, rising sales of automotive parts through e-retailers is expected to propel the global interior car accessories market growth in the near future.

Statistics:

Europe held dominant position in the global Interior Car Accessories market in 2019, accounting for 34.2% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Interior Car Accessories Market Share (%) in terms of Value, By Region, 2019

Interior Car Accessories  | Coherent Market Insights

Interior Car Accessories Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 Pandemic have adversely affected the economies of various countries around the globe. According to the International Monetary fund Analysis, the global economy is expected to shrink down by 3% percent in the year 2020 compared to year 2019. These economic slowdown expected to affect various sectors such as Automotive.

Moreover, According to Coherent Market Insight Analysis, Asia Pacific region constitutes world’s 60% population and higher population demands higher mobility. According to same analysis, the Asia Pacific region have largest Automotive industry by revenue but due to COVID-19 pandemic countries such as China and India declared lockdown in some areas of country. Due to the lockdown many car accessories manufactures had to shutdown their plants. Owing to mentioned reasons, COVID-19 is expected to restrain the growth of the market during the year 2020.

Market Dynamics- Restraints

  1. Presence of low-quality interior car accessories is expected to restrain growth of the global interior car accessories market during the forecast period

There is a massive number of suppliers present in the market providing interior car accessories with low quality. These products are offered at competitive prices as compared to branded interior car accessories. Regardless of inferior quality offered and promising look as branded interior accessories, consumers are purchasing the low-quality accessories. This low awareness among consumers regarding genuine accessories is expected to restrain growth of the global interior car accessories market during the forecast period.

  1. Cost competitiveness due to fragmented market is expected to hinder the global interior car accessories market growth over the forecast period

The global interior car accessories market is highly fragmented with presence of both local and global market players. The unorganized players hold dominant positions in the market, owing to which the organized players face sheer competition in terms of pricing resulting in a decline of profit margin. Most of the interior car accessories in the unorganized market are imported from countries such as China, Taiwan, Korea, and Thailand. Thus, these factors are expected to hinder the market growth in the near future.

request-sample

Interior Car Accessories Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 202,938.9 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.6% 2027 Value Projection: USD 314,579.4 Mn
Geographies covered (27):
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Product Type: Dash Kits, Covers, Electronic Accessories, Consoles & Organizers, Sunshades, Communication, Car Cushions & Pillows, Car Mats, Knobs, Central Locking System and Fragrance
  • By Vehicle Type: Passenger Cars (Compact PC, Mid-size PC, Premium PC, Luxury PC) and Pickup Trucks
  • By Channel Type: OEM and Aftermarket
Companies covered:

Momo Srl, Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, U.S. Auto Parts Network, Inc., Covercraft Industries, LLC, O'Reilly Auto Parts, Lloyd Mats, CAR MATE MFG. CO., Ltd., and Classic Soft Trim.

Growth Drivers:
  • High growth in automotive industry
  • Rapid growth automotive aftermarket e-retailing in developed countries
Restraints & Challenges:
  • Presence of low-quality interior car accessories

Market Opportunities

  1. Rising demand for customized vehicles among younger population can present lucrative growth opportunities

Vehicle ownership among young age group is increasing rapidly worldwide with an intent to invest more on customizing and accessorizing their vehicles. This is done in order to increase the performance of their cars and offer more sporty aesthetics. Therefore, rising demand for car accessories among young population for customization activities is expected to provide major business opportunities for market players in the near future.

  1. High demand for car security accessories can offer major business opportunities

Most of the economic or low variant compact cars have a manual locking system, they don’t have pre-fitted central locking systems, which increases the risks of car theft. In order to avoid the cars from theft, car owners are preferring to install anti-theft locking systems in the car from the automotive aftermarket. This, in turn, is expected to boost the demand for car security accessories worldwide. Major companies in the market can capitalize on the opportunities and gain a competitive advantage in the market.

Figure 2: Global Interior Car Accessories Market Value (US$ Mn), 2017 - 2027

Interior Car Accessories  | Coherent Market Insights

The global Interior Car Accessories market was valued at US$ 202,938.9 Mn in 2019 and is forecast to reach a value of US$ 314,579.4 Mn by 2027 at a CAGR of 5.6% between 2020 and 2027.

Market Trends

  1. North America Trends

Distribution channel consolidation

Distribution channel consolidation is the latest trend in the North America interior car accessories and aftermarket. The aftermarket and retailers hold a dominant position in the North America. Manufacturers and suppliers in the market are focused on consolidation in their distribution networks with large retailers and distributors. The distributors require large suppliers with product expertise, supply chain services, and a global footprint.

Growing preference for two-color and perforated seat covers

Consumers are gradually preferring multicolor seat covers for their cars with contrasting stitching and piping in bright colors. Furthermore, consumers are focused on purchasing creative seat cover patterns such as perforated seat covers that allow airflow through perforations. This, in turn, offers comfort to the passengers during the hot weather.

  1. Europe Trends

Expansion of production plants of major car manufacturers in Slovakia

Major passenger car manufacturers such as PSA, KIA Motors, and Volkswagen are focused on expanding their production facilities in Slovakia since 2011. Thus, the prevailing trend in the country will offer lucrative opportunities for the interior car accessories market in the country.

Higher prevalence of car customization among consumers in Spain and the Netherlands

The customization of cars, which is commonly termed as “tuning” among the consumers in Spain is increasing significantly, this increase is highly influenced by the trend followed in the US. Thus, the rising affinity of people towards car customization in Spain will be the sweet spot for interior car accessories manufacturers across the Western Europe region. The most commonly preferred interior car accessories in the region include seat covers, floor mats, and electronic accessories.

Value Chain Analysis

  • The key participants in the value chain of global interior accessories market include, manufacturers, suppliers, distributors, OEMs, dealers and the aftermarket. The profit margin percentage across the value chain varies depending on the flow of supply.
  • Manufacturers directly supply the accessories to the suppliers, the suppliers are the main point of contact for aftermarket and distributors, the distributors further distribute products to various OEMs, vehicle dealers/showrooms and aftermarket, where direct contact between suppliers and aftermarket doesn’t exist

Competitive Section

Major companies operating in the global interior car accessories market are Momo Srl, Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, U.S. Auto Parts Network, Inc., Covercraft Industries, LLC, O'Reilly Auto Parts, Lloyd Mats, CAR MATE MFG. CO., Ltd., and Classic Soft Trim.

Key Developments

  1. Key players in the market are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in August 2018, Covercraft Industries, LLC acquired Marathon Seat Covers, a provider of premium-quality seat covers.
  2. Major market players are focused on partnerships and collaborations, in order to enhance the market presence. For instance, in December 2019, Pioneer Corporation partnered with Nain Inc., a startup in UI solution business.

Interior car accessories are additional Product Types that augment the interior aesthetics of the vehicle and provide overall entertaining and comfortable riding experience. Since the automotive sector has expanded significantly in the recent past, with car accessories witnessing significant demand across the globe. A vehicle’s interior is comprised of cockpit modules, automotive seats, door panels, headliners, etc. Furthermore, interior trims, upholstery, and other adornments are crucial Product Types in providing aesthetic appearance to the car. The global interior car accessories market focuses on five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Dynamics

The automotive industry has witnessed stable growth in the recent past following the economic crisis. According to Coherent Market Insights’ analysis, the global automotive industry is expected to be valued at US$ 87.5 billion by 2020. This is owing to increasing sales of passenger cars combined with rising sales of pickup trucks. Hence, sales of passenger cars and pickup trucks are expected to boost sales of interior car accessories. Thus, these factors are expected to drive growth of the global interior car accessories market during the forecast period. The automotive aftermarket e-retailing is expanding, especially in developed regions such as Europe and North America. A wide array of automotive parts and accessories are being sold via automotive aftermarket e-retailers such as AutoZone, Pep Boys, and Carid.com. Thus, rising sales of automotive parts through e-retailers is expected to propel the global interior car accessories market growth in the near future.

Market Taxonomy

This report segments the Global Storage Area Network (SAN) Market on the basis of Product Type, Vehicle Type, Channel Type and Region. On the basis of Product Type, Global Storage Area Network (SAN) Market is segmented into Dash Kits, Covers, Electronic Accessories, Consoles & Organizers, Sunshades, Communication, Car Cushions & Pillows, Car Mats, Knobs, Central Locking System and Fragrance.On the basis of Vehicle Type, the Global Storage Area Network (SAN) Market is segmented into Passenger Cars (Compact PC, Mid-size PC, Premium PC, Luxury PC) and Pickup Trucks. On the basis of Channel Type, the Global Storage Area Network (SAN) Market is segmented into OEM and Aftermarket. On the basis of region, Global Storage Area Network (SAN) Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Storage Area Network (SAN) Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Storage Area Network (SAN) Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Storage Area Network (SAN) Market includes Momo Srl, Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, U.S. Auto Parts Network, Inc., Covercraft Industries, LLC, O'Reilly Auto Parts, Lloyd Mats, CAR MATE MFG. CO., Ltd., and Classic Soft Trim.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, Channel Type up gradation, market expansion, and marketing tactics
  • The global Storage Area Network (SAN) market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Storage Area Network (SAN) Market

Detailed Segmentation:

  • Global Storage Area Network (SAN) Market, By Product Type:
    • Dash Kits
    • Covers
    • Electronic Accessories
    • Consoles & Organizers
    • Sunshades
    • Communication
    • Car Cushions & Pillows
    • Car Mats
    • Knobs
    • Central Locking System
    • Fragrance
  • Global Storage Area Network (SAN) Market, By Vehicle Type:
    • Passenger Cars
      • Compact PC
      • Mid-size PC
      • Premium PC
      • Luxury PC
    • Pickup Trucks
  • Global Storage Area Network (SAN) Market, By Channel Type:
    • OEM
    • Aftermarket
  • Global Storage Area Network (SAN) Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • CAR MATE MFG. CO., Ltd.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Classic Soft Trim.
    • Covercraft Industries, LLC
    • Garmin Ltd.
    • H.I. Motors
    • Lloyd Mats
    • Momo Srl
    • O'Reilly Auto Parts
    • Pecca Group Berhad
    • Pioneer Corporation
    • Star Automotive Accessories
    • U.S. Auto Parts Network, Inc.

Browse all the market data tables and figures on “Global Storage Area Network (SAN) Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Product Type
      • Market Snippet, By Vehicle Type
      • Market Snippet, BY Channel Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Vehicle Type Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Interior Car Accessories Market, BY Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Product Type Trends
    • Dash Kits
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Covers
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Electronic Accessories
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Consoles & Organizers
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Sunshades
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Communication
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Car Cushions & Pillows
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Car Mats
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Knobs
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Central Locking System
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Fragrance
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  5. Global Interior Car Accessories Market, By Vehicle Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Product Type Trends
    • Passenger Cars
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Compact PC
        • Mid-size PC
        • Premium PC
        • Luxury PC
    • Pickup Trucks
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Interior Car Accessories Market, By Channel Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Product Type Trends
    • OEM
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Aftermarket
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Interior Car Accessories Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Channel Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Channel Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Channel Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Channel Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Channel Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • CAR MATE MFG. CO., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Classic Soft Trim.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Covercraft Industries, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Garmin Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • I. Motors
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lloyd Mats
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Momo Srl
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • O'Reilly Auto Parts
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pecca Group Berhad
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pioneer Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Star Automotive Accessories
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • S. Auto Parts Network, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Interior Car Accessories Market -forecast to 2027”.

Frequently Asked Questions

The global market for Interior Car Accessories is expected to reach USD 24,0234.2 Million by 2022.
High growth in automotive industry is expected to drive growth of the global interior car accessories market during the forecast period.
Aftermarket sub-segment holds the largest market share among Distribution channel segment contributing 73.9% market share in terms of value in 2019.
Europe region hold the largest share in the global Interior Car Accessories market in 2019, accounting for 34.2% share in terms of value.
Key players operating in the global Interior Car Accessories market are Momo Srl, Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, U.S. Auto Parts Network, Inc., Covercraft Industries, LLC, O'Reilly Auto Parts, Lloyd Mats, CAR MATE MFG. CO., Ltd., and Classic Soft Trim.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner