During the projected period, a high rise in the automotive industry is anticipated to fuel market expansion for interior vehicle accessories worldwide. Following the economic crisis, there has been steady growth in the automotive industry in recent years. By 2020, Coherent Market Insights estimates that the global automobile market would be worth US$ 87.5 billion. This is caused by rising sales of pickup trucks mixed with rising sales of passenger automobiles. Thus, it is anticipated that the sales of pickup trucks and passenger vehicles will increase the demand for interior automobile accessories. Therefore, during the forecast period, these factors are anticipated to fuel market growth for interior car accessories worldwide. Over the forecast period, fast-growing automotive aftermarket e-retailing in developed nations is anticipated to drive the growth of the worldwide interior car accessories market. Car aftermarket e-retailers like AutoZone, Pep Boys, and Carid.com offer a broad selection of car parts and accessories. Therefore, it is anticipated that increasing sales of automobile parts through online retailers will fuel the expansion of the worldwide interior car accessories market in the coming years.
The Coherent Market Insights estimates that The market for Interior Car Accessories was worth US$ 202,938.9 Mn and had 803,8563.5 Thousand units in 2019, and it is projected to increase at a CAGR of 5.6% from 2020 to 2027.
Major Players in the Interior Car Accessories Industry:
1. Momo Srl
The company was started in 1964 and is based in Milan, Italy. The business manufactures parts and accessories for cars, including alloy wheels, tyres, steering wheels, seats, and gear sticks. Racing suits, gloves, and shoes are among the clothing items the business also sells.
2. Pioneer Corporation
The business was started in 1938 and is located in Tokyo, Japan. The business produces and markets audio and video equipment for use in automobiles, businesses, and homes. As part of their acquisition of Onkyo, Voxx International revealed in June 2021 that they had finalised a licencing arrangement with the Pioneer and Pioneer Elite brands "for all markets, except China".
3. Garmin Ltd.
The firm was founded in 1989 and is located in Olathe, Kansas, United States. The business specialises on GPS technology for outdoor, sports, aviation, and automobile applications. AeroData, a Scottsdale, Arizona-based business that offers software for aircraft performance to more than 135 airlines worldwide, was acquired by Garmin in 2021.
4. H.I. Motors
The company was founded in 1967 and is located in Seoul, South Korea. The business produces, markets, and exports commercial vehicles, trucks, and passenger cars. Additionally, the company has auto repair shops all around South Korea and distributes a variety of auto parts. Through its subsidiaries, Hyundai Motor offers financial services.
5. Pecca Group Berhad
The firm was started in 2000 and is located in Malaysia. Products made of leather are produced by Pecca Group Bhd's subsidiaries. Pecca is a Malaysian business that produces leather interior seats for automobiles. The company operates in the automotive, medical care, aviation, and furnishing sectors.
6. Covercraft Industries, LLC,
The company was founded in 1965 and is based in Pauls Valley, Oklahoma. For use in automobiles and recreational vehicles, Covercraft Industries produces high-quality exterior and interior protection products. The premier brand of automotive, marine, and recreational vehicle protection products is produced by Covercraft Industries, LLC.
7. O'Reilly Auto Parts
The company was started in 1957 and is based in Springfield, Missouri, United States. The business offers both professional service providers and do-it-yourself clients aftermarket automobile parts, tools, equipment, supplies, and accessories.
Definition: Interior automobile accessories are extra parts that enhance the interior design of the car and add to the overall fun and comfortable riding experience. Since the automotive industry has recently experienced tremendous growth, there is a significant global need for vehicle accessories.
