Automotive Headliner Market to Expand at a Staggering CAGR of ~4% By 2028
Global value for the automotive headliner market reached ~ US$ 7.5 Bn in 2018, as disclosed by the new research study by Fact.MR. According to the report, the automotive headliner market is predicted to grow by CAGR of ~4% in the forecast period, primarily influenced by prominent players investing in manufacturing operations in the global automotive headliner market landscape.
According to the research, an increasing center of attention on new developments and demand in various types of vehicle are subsidizing to enhanced revenue generation of the automotive headliner market by the end of 2028. Rise in vehicle sales and increasing level of consumer’s awareness about advance automotive technologies will continue to prove profitable for the global market for automotive headliner in the coming future.
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Increasing Popularity of Luxury Vehicles Creating Opportunities for Key Market Players
The global automotive industry is witnessing rapid growth and consumer’s demand for luxurious appearance is among the leading trends influencing the growth of the automotive headliner market. Increasing production and sales of premium cars are inducing the need for designing luxurious interiors propelling the automotive headliner market growth. Modern designs of automotive headliner add to the lavish and deluxe appearance of premium cars, meeting the consumer’s demand for luscious features in such automobile segments. Increasing disposable income is leading to higher sales of passenger cars, subsequently benefiting the automotive headliner market.
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According to the Fact.MR, hardtop headliner, are expected to account for the largest revenue share in the global automotive headliner market, with global value poised to reach ~ US $ 7.8 Bn by the end of 2019. Among various types of vehicles, headliner for mid-sized cars are projected to remain sought-after among consumers. Revenue generation for OEM and aftermarket services are likely to remain highly attractive in the forecast period.
APEJ Foreseen to Witness More Demand for Automotive Headliner
Increasing traffic densities across the globe have resulted in an acceleration in demand for compact vehicles. The continuous rise in the economic strength of APEJ countries has made consumers in the region capable of spending more on various automotive products. Substantial vehicle production in countries such as India and China has underpinned demand for automotive interior components in Asia Pacific, excluding Japan (APEJ). Besides, people in APEJ are more interested in automotive interior design and requirement for advanced components, which in turn will formulate possibilities for the adoption of various automotive headliner types. In terms of value, APEJ will continue to be the largest market for automotive headliner in the forecast period. Increase in the demand for premium vehicles and rapid expansion of OEMs in China, India, and South Korea are fueling the demand for automotive headliner in the Asia Pacific, excluding Japan (APEJ).
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Fact. MR’s business perception is also focusing on innovative insights into the competitive landscape of the automotive headliner market along with highlights of manufacturers’ differential blueprint. Key players in the automotive headliner market will continue to draw upon various R&D for offering new products in their existing portfolio. For instance, in year 2018, Grupo Antolin, an automotive interior product manufacturer, developed a lighted automotive headliner with a new fabric design including laser engraved, opaque surface that generates luminous surface for more attractive interior of a vehicle and comfortable for passengers that is unique on a global scale.
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