Automotive Upholstery Industry 2020 | Projection, Solutions, Services Forecast to 2023

Automotive Upholstery Industry 2020 | Projection, Solutions, Services Forecast to 2023

Posted August 8,2020 in Cars and Vehicles.

Market Research Future
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Automotive Upholstery Industry 2020 | Projection, Solutions, Services Forecast to 2023

Market Highlights

The global Automotive Upholstery Industry is expected to exhibit a robust CAGR of 9% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global Automotive Upholstery Industry is studied in great detail in the report, which aims to provide readers with a complete overview of the global Automotive Upholstery Industry’s most important drivers and restraints, key players, and leading segments.

The global Automotive Upholstery Industry is mainly driven by the growing demand for passenger vehicles from emerging regions around the world, which has led to a corresponding increase in the demand for other automotive components, both mechanical and aesthetic. The global automotive industry has been driven at a solid pace by the growing demand for premium cars from consumers in emerging regions such as Asia Pacific, the Middle East, and Latin America. The growing disposable income of consumers in these regions is also a major driver for the global Automotive Upholstery Industry.

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The growing disposable income of consumers is also likely to result in an increasing demand for posh, premium upholstery with a luxurious feel. This is likely to be a determinant driver for the global Automotive Upholstery Industry over the forecast period, as the demand for premium products is likely to drive rampant product innovation in the global Automotive Upholstery Industry.

The environmental viability of the materials used to make automotive upholstery is also likely to remain a key factor in the development of the global Automotive Upholstery Industry over the forecast period. the growing demand for recyclability in automotive components is likely to drive the demand for biodegradable or recyclable materials. In May 2019, Lenzing, a textile industry leader, and Rinspeed, a leading Swiss automaker, announced a collaboration to produce automotive upholstery from wood-based textiles. Lenzing has already developed its own brand of wood-based textile called Tencel, which it intends to put to use for manufacturing automotive upholstery products. Such efforts could become increasingly common in the global Automotive Upholstery Industry over the forecast period.

Competitive Analysis:

The leading players in the global Automotive Upholstery Industry include Seiren Co., Haartz Corporation, Grupo Antolin, Borgers Se & Co. KGaA, Acme Mills Company, Grammer AG, Katzkin, Johnson Controls International plc, Faurecia, Toyota Boshoku, Adient PLC, and Lear Corporation.

 

Segmentation:

The global Automotive Upholstery Industry is segmented on the basis of material used, application, type of fabric, vehicle type, and region.

On the basis of the application, the global Automotive Upholstery Industry is segmented into carpet flooring, side lining, seat cover, trunk space, visor linings, and roof lining.

Based on the type of fabric,the global Automotive Upholstery Industry includes woven, knit, and hand crafted varieties.

On the basis of the material used,the global Automotive Upholstery Industry is segmented into leather, synthetic leather, hand-woven material, cotton, resin, and vinyl.

On the basis of vehicle type, the global Automotive Upholstery Industry is segmented into passenger cars and commercial vehicles. 

Regional Analysis:

North America dominates the global Automotive Upholstery Industry, followed by Europe and Asia Pacific. The increasing preference for SUVs and other large cars in North America is a major driver for the global Automotive Upholstery Industry, as it drives the demand for large volumes of upholstery products. The growing demand for smart automotive upholstery products and more premium versions is likely to be a major driver for the global Automotive Upholstery Industry over the forecast period. Europe is also likely to retain a significant share in the global Automotive Upholstery Industry over the forecast period due to the growing demand for premium automobiles with a luxurious feel.

Asia Pacific is likely to exhibit rapid growth in the global Automotive Upholstery Industry over the forecast period due to the growing demand for automobiles in Asia Pacific countries such as China, India, and Japan. Japan has long been one of the leading technological innovators in the global automotive industry and witnesses a stable demand for premium, luxurious automotive upholstery products. The growing demand for passenger vehicles in Asia Pacific is likely to be a major driver for the global Automotive Upholstery Industry over the forecast period.

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