Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Automotive Interior Market By Vehicle Type, By Component, By Material, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia automotive interior market is anticipated to witness robust growth during the forecast period, 2023-2027
Factors such as the high demand for SUVs and the increased customer preference for comfort features in an automobile are driving the demand for the Saudi Arabia automotive interior market.
Also, the rapid launch of semi-autonomous and autonomous vehicles in the market and the ongoing technological advancements are expected to create significant growth opportunities for the Saudi Arabia automotive interior market over the next five years.
High Demand for SUVs Drives the Market Growth
In 2020, 452.54 thousand units of total vehicles were sold in Saudi Arabia. The country has abundant resources of oil & gas. Customers prefer to buy SUVs as they provide a comfortable and luxurious experience to the passengers and the availability of oil at low prices.
Also, the government recently lifted the ban on purchasing 7-seater or larger SUVs, which is expected to boost the demand for SUVs in the region considerably. Harsh climatic conditions and the high disposable income of the consumers enable them to afford a quality lifestyle. Large families could easily accommodate large spaces and have head and legroom space.
SUVs have a massive frame and can provide enough room to transport loads of luggage without dropping the back seats. SUVs have a larger load-carrying capacity which makes them suitable for long-distance traveling. SUVs are safer to drive and are integrated with driver assistance systems that lower the risk of driving and alert the driver in time to prevent road accidents.
Market players are launching SUVs in the environment-friendly market and are fuel-efficient to propel the sales of SUVs of their respective brands. SUVs or luxury cars are equipped with several interior components that provide consumers with an enhanced traveling experience. The rise in the demand for SUVs among consumers is expected to bolster the growth of Saudi Arabia automotive interior market over the forecast period.
Technological Advancements of Automotive Interior Components Supports High Market Demand
Market players are investing in research and development activities to find innovative solutions to upgrade the existing infrastructure. Manufacturers are making efforts to find lightweight materials and technologies to reduce the vehicle's weight. The weight of the automobile can also be lowered by changing the weight of the seats.
Lightweight material makes vehicles more fuel-efficient. Automotive interior component manufacturers have started to use plastics in vehicle doors and instrument panels. Manufacturers use different kinds of plastic and finishing according to the price range of the vehicle.
Furthermore, the market players have started integrating advanced technologies like voice command control, internet of things technology, and 3D map navigation facility in the in-dash navigation system of the automobile, which is garnering significant attention from potential customers across the country.
Increased Popularity of Autonomous and Semi-Autonomous Vehicles Boosts the Market Growth
The Kingdom of Saudi Arabia has allocated funds worth $500bn to invest in the development of Neom, a smart city. It will be built from scratch, and the residents will use the fully autonomous vehicle for daily commute purposes.
The demand for autonomous vehicles is expected to positively affect advanced automotive interior technologies as they need the interior components to switch between the different driver modes seamlessly.
Also, the sales of semi-autonomous vehicles are accelerating at a rapid pace as they contain a combination of automated and manual functions. They are expected to fuel the demand for electronic cockpit systems, which need to be installed in semi-autonomous vehicles.
Competitive Landscape
Detailed analysis of the major companies present in Saudi Arabia automotive interior market.
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Panasonic Corporation
- Magna International Inc.
- Lear Corporation
- Faurecia S.A.
- Visteon Corporation
- Yanfeng Automotive Interiors
- Faurecia SE
Report Scope:
Saudi Arabia Automotive Interior Market, By Vehicle Type:
- Passenger Car
- LCV
- M&HCV
Saudi Arabia Automotive Interior Market, By Component:
- Center Stack
- Display
- Seat
- Door Panel
- Headliner
- Interior Lightings
- Dome Module
- Infotainment System
- Others
Saudi Arabia Automotive Interior Market, By Material:
- Leather
- Fabric
- Plastic
- Glass
- Wood
- Fiber
Saudi Arabia Automotive Interior Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
For more information about this report visit https://www.researchandmarkets.com/r/kxtngx
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