Press release
Automotive Leather Upholstery Market Forecasted to Grow at 4.6% CAGR, Reaching US$ 7.0 billion by 2031 - TMR Study
The global automotive leather upholstery market, valued at US$ 4.6 billion in 2022, is set for robust growth with an estimated Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2031, reaching a projected US$ 7.0 billion by the end of 2031. This market research study delves into the dynamics shaping the automotive leather upholstery sector, exploring market size, growth trends, key players, the competitive landscape, consumer behavior, emerging technologies, regulatory environment, and the future outlook. As consumers increasingly prioritize luxury and comfort in their vehicles, the demand for automotive leather upholstery continues to rise.
Market Overview:
The surge in consumer spending on luxury and leisure vehicles, coupled with a heightened demand for enhanced in-vehicle aesthetics, is driving the growth of the automotive leather upholstery market. Leather, known for its premium feel and durability, is extensively used to design various interior components, elevating the aesthetic appeal of vehicles. The aftermarket sales channels are expanding, contributing to the overall market value.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81079&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Key Factors Driving Market Growth:
Design and Comfort Significance: The design and comfort of the cabin space are crucial considerations for consumers when choosing a new car. Full aniline leather and semi-aniline leather, known for their cost-effectiveness and easy maintenance, are gaining popularity in automotive upholstery, contributing to the market's growth.
Advantages of Automotive Leather: Automotive leather provides superior stain- and abrasion-resistance compared to other materials. Its ease of cleaning, resistance to alterations during temperature variations, and ability to enhance vehicle interiors' aesthetic appeal and resale value make it a preferred choice.
Rise in Passenger Vehicle Sales: The global rise in the preference for personal mobility has driven the demand for passenger cars. Increased consumer income levels, especially after the peak of the COVID-19 pandemic, have fueled the development of the automotive leather upholstery market.
Expenditure on Automotive Accessories: The availability of diverse interior leather designs and increased consumer spending on automotive accessories further propels market growth. The adoption of bio-based leathers and a shift towards artificial leather are contributing to market progress.
Preference for Leather Seats: Leather is a popular choice for automobile seats, offering durability, softness, noise reduction, vibration dampening, and enhanced aesthetic appeal. The rise in sales of premium vehicles is driving the demand for leather seats, leading to market dominance in the seats application segment.
Regional Outlook:
Europe: The dominant force in the global automotive leather upholstery market, Europe boasts major automotive component exporters and advanced research and development facilities. Economic slowdowns due to BREXIT may impact the region's market growth, but companies in Europe lead in developing advanced techniques for synthetic materials.
North America: With a strong presence of luxurious vehicle manufacturers, North America is witnessing growth in demand for automotive leather upholstery. The popularity of passenger vehicles and the demand for luxury vehicles are driving the market's expansion in the region.
China: Home to the world's largest automakers, China plays a crucial role in the automotive leather upholstery market. The region's lucrative presence of key automakers, coupled with the rise in consumer disposable income, contributes to market expansion.
Key Players and Developments:
Major automotive players globally are investing in research and development activities to provide diverse and innovative leather options. Collaborations, partnerships, mergers, acquisitions, and product portfolio developments are key strategies driving market progress. Key players include Alea Leather Specialist (Sunguard Group), BASF SE, Beijing Automotive Group, and Lear Corporation, among others.
Key Developments:
In May 2022, Toyota Boshoku Company presented a seat cover equipped with a fatigue estimation system, ensuring safety.
In May 2021, Alcantara and Maserati collaborated to enhance the MC20 supercar's exclusivity with eye-catching interior features.
𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81079&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Market Overview:
The surge in consumer spending on luxury and leisure vehicles, coupled with a heightened demand for enhanced in-vehicle aesthetics, is driving the growth of the automotive leather upholstery market. Leather, known for its premium feel and durability, is extensively used to design various interior components, elevating the aesthetic appeal of vehicles. The aftermarket sales channels are expanding, contributing to the overall market value.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81079&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Key Factors Driving Market Growth:
Design and Comfort Significance: The design and comfort of the cabin space are crucial considerations for consumers when choosing a new car. Full aniline leather and semi-aniline leather, known for their cost-effectiveness and easy maintenance, are gaining popularity in automotive upholstery, contributing to the market's growth.
Advantages of Automotive Leather: Automotive leather provides superior stain- and abrasion-resistance compared to other materials. Its ease of cleaning, resistance to alterations during temperature variations, and ability to enhance vehicle interiors' aesthetic appeal and resale value make it a preferred choice.
Rise in Passenger Vehicle Sales: The global rise in the preference for personal mobility has driven the demand for passenger cars. Increased consumer income levels, especially after the peak of the COVID-19 pandemic, have fueled the development of the automotive leather upholstery market.
Expenditure on Automotive Accessories: The availability of diverse interior leather designs and increased consumer spending on automotive accessories further propels market growth. The adoption of bio-based leathers and a shift towards artificial leather are contributing to market progress.
Preference for Leather Seats: Leather is a popular choice for automobile seats, offering durability, softness, noise reduction, vibration dampening, and enhanced aesthetic appeal. The rise in sales of premium vehicles is driving the demand for leather seats, leading to market dominance in the seats application segment.
Regional Outlook:
Europe: The dominant force in the global automotive leather upholstery market, Europe boasts major automotive component exporters and advanced research and development facilities. Economic slowdowns due to BREXIT may impact the region's market growth, but companies in Europe lead in developing advanced techniques for synthetic materials.
North America: With a strong presence of luxurious vehicle manufacturers, North America is witnessing growth in demand for automotive leather upholstery. The popularity of passenger vehicles and the demand for luxury vehicles are driving the market's expansion in the region.
China: Home to the world's largest automakers, China plays a crucial role in the automotive leather upholstery market. The region's lucrative presence of key automakers, coupled with the rise in consumer disposable income, contributes to market expansion.
Key Players and Developments:
Major automotive players globally are investing in research and development activities to provide diverse and innovative leather options. Collaborations, partnerships, mergers, acquisitions, and product portfolio developments are key strategies driving market progress. Key players include Alea Leather Specialist (Sunguard Group), BASF SE, Beijing Automotive Group, and Lear Corporation, among others.
Key Developments:
In May 2022, Toyota Boshoku Company presented a seat cover equipped with a fatigue estimation system, ensuring safety.
In May 2021, Alcantara and Maserati collaborated to enhance the MC20 supercar's exclusivity with eye-catching interior features.
𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81079&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
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