Automotive Upholstery Market To Reach USD 7.5 Billion In 2027 | CAGR 5.6% — Forencis Research
Global Automotive Upholstery Market: Key Highlights
- According to the new market research report “AUTOMOTIVE UPHOLSTERY MARKET by Material (Leather, Flocked Fabrics, Polyester & Nylon, Wool, Vinyl and Others) by Fabric Type (Woven Fabric and Non-Woven Fabric) by Application (Seat Covers, Automotive Interior Trims, Flooring, Seat Belts, and Others) by Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket) by Vehicle Type (Passenger Vehicles, LCV, HCV ) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) — Global Forecast from 2020 To 2027”, the global automotive upholstery market is estimated to reach USD 8.2 Billion in 2027 at a CAGR of 6.7% during forecast period 2020–2027.
- Increasing inclination towards luxury and comfort is expected to drive the automotive Upholstery market during the forecast period.
- However, fluctuating raw material prices are expected to restrain the market during the forecast period.
Global Automotive Upholstery Market: Key Market Dynamics
- The motive for automotive upholstery is to provide comfort and a pleasant ambiance of the vehicles’ interiors. Based on vehicles model and preference towards upholstery styles, different seat covers are used. Thus, increasing inclination towards luxury and comfort is expected to drive the automotive upholstery market during the forecast period.
- Comfortable and impressive interior design is an important factor for customers to make purchasing decisions of any vehicle. Automotive manufacturers are engaged in developing innovative technologies that would provide versatile interior designs. Thus, the high demand for automotive interiors is expected to drive the demand for the automotive upholstery market.
- Lack of constant supply of raw materials results in increasing raw material prices which, escalates the overall product price. Thus, fluctuating raw material prices is a restraining factor for global market growth during the forecast period.
- Rising demand for non-woven fabrics is expected to open up new growth avenues for the automotive upholstery market in the near future.
- Maintaining a total volatile organic compound (TVOC) emission rates are likely to act as a challenge for market growth.
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Global Automotive Upholstery Market: Regional Overview
The Asia-Pacific region is projected to be the largest contributor to the automotive upholstery market owing to the growing automotive sector. The growth in the automotive sector in this region is mainly due to increasing vehicle production, high demand for luxury vehicles and automotive interiors which are boosting the growth of the automotive upholstery market. Among the Asia Pacific, China is one of the prominent destinations for the automotive market, which is projected to drive the market.
The automotive sector plays a vital role in boosting the European economy. The growing automotive sector in the region is the prominent factor pushing the overall economy. In Europe, 19.2 million vehicles are manufactured every year as per the data shared by the European Automobile Manufacturers Association (ACEA). The increasing vehicle production and customers liking towards high-end vehicles with flashy interiors in Europe have boosted the automotive upholstery market.
Global Automotive Upholstery Market: Key Players Overview
- Lear Corporation:
Lear Corporation is a US-based company engaged in manufacturing automotive, seating systems, terminals, junction boxes, connectors, wiring harnesses, body control electronics, audio systems, and wireless products. Lear Corporation focuses on manufacturing components that contribute towards weight saving and uses luxurious leather or advanced fabrics for seat covers. The company uses seat surfaces material applications such as laser etching, perforations, embossing, custom finishing techniques, and polymer printing.
- TOYOTA BOSHOKU CORPORATION:
TOYOTA BOSHOKU CORPORATION is a Japan-based company. The company is specialized in manufacturing automotive parts and textile products. TOYOTA BOSHOKU CORPORATION is expertise in providing automobile interior components like carpets, seats, door trims, headliners and others as well as exterior components like fender liners and bumpers.
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