Europe Automotive Fabric Market to Witness Steady Growth at 6.0% CAGR During 2017 - 2022
Shifting Focus towards Composite Materials
Demand for safety measures in vehicles have surged significantly over the past few years. Various advancements have been made in the design of airbags, seats, and belts of automobiles, along with improvements in their weight and aesthetic appearance. Automotive fabric play an imperative role in these advancements and improvements, and have gained significant traction across the globe. Leading manufacturers in the market are shifting their focus toward utilisation of light-weight composite materials with properties such as light-weight, advanced adhesive technology, and low moisture content. Composite materials require lesser non-renewable sources for their production, and help in lowering greenhouse gas emissions and petroleum consumption.
Request For Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-4277
Expanding sales of automobiles, increasing purchasing power of people in developed and developing economies, along with rapid urbanisation will further influence growth of the market in the near future. A major hindrance for the market expansion is increasing existence of alternative products such as natural leather, PVC and synthetic leather.
Key Takeaways from FMI’s Report on Global Automotive Fabric Market
Europe is anticipated to remain the most lucrative market for automotive fabric, with sales estimated to reach nearly US$ 70 Mn by 2022-end. Dominance of Europe in the market can be attributed to advanced technological developments, higher presence of leading market players, increasing launch of novel products, and development of research centres.
Automotive fabric market has huge potential for expansion in Middle East & Africa (MEA) and Asia-Pacific excluding Japan (APEJ) on the back of huge population base, soaring demand for passenger cars owing to increasing disposable incomes, and robust rate of urbanisation. The markets in Japan and Latin America are projected to register the highest CAGR through 2022.
On the basis of applications, airbags and floor covering will continue to account for largest revenue shares of the global automotive fabric market during 2017 to 2022. Floor covering is expected to remain the dominant application of automotive fabric, closely followed by airbags. These applications of automotive fabric will register the lowest CAGRs through 2022. In addition, applications of automotive fabric in car roof, tires, and safety belts will register the highest CAGRs through 2022.
Woven fabric is expected to remain sought-after among products in the market, with sales projected to account for nearly three-fourth revenue share of the market in 2017. However, woven fabric will witness a decline in its market share by 2022-end. Knitted fabric is projected to remain the fastest expanding product in the market, with sales poised to surpass US$ 30 Mn in revenues by 2022-end. In addition, sales of non-woven fabric will also witness an impressive expansion through 2022.
OEM is anticipated to hold its position as the most lucrative sales channel for automotive fabric throughout the forecast period. Revenues from automotive fabric sales in OEM will account for approximately four-fifth share of the market in 2017, and will further experience a slight decline in its market share by 2022-end. Aftermarket will register a relatively faster expansion than OEM in the global automotive fabric market through 2022.
Request For Report Table of Content (TOC): https://www.futuremarketinsights.com/askus/rep-gb-4277
Based on vehicle type, compact passenger cars will account for largest share of the global automotive fabric market, in terms of revenues in 2017. By 2022, revenues from sales of automotive fabric in compact passenger cars will gain an uptick in their market share. Light commercial vehicles and mid-sized passenger cars are also expected to remain lucrative among vehicles in the market. Luxury passenger cars are expected to account for relatively lower revenues in the market, however automotive fabric sales in these cars will register an impressive expansion through 2022.
Key companies identified by FMI’s report, who are actively contributing to expansion of global automotive fabric market, include Adient Plc, HYOSUNG, Delcotex Delius Techtex GmbH & Co. KG, SETEX-Textil-GmbH, ACME, and Lear Corporation.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Europe Automotive Fabric Market to Witness Steady Growth at 6.0% CAGR During 2017 - 2022 here
News-ID: 1048796 • Views: 137
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for Automotive
Automotive Sunroof Market
Automotive Sunroof is a fixed or operable opening in vehicle that allows light or fresh air to enter inside a car. Sunroof are of many shapes and sizes and styles and they are either manually driver or motor driven. Increasing demand for premium cars and growing need to control light inside the vehicle is fueling the growth of automotive sunroof market. The major driver influencing the growth of automotive sunroof is
Automotive MEMS Sensor
The Insight Partners added “Laser Technology Market to 2025” to its research database. The report is spread across 150 pages and supported by 10 company leaders. A laser is a coherent and focused beam of photons; coherent, in this context, means that it is all one wavelength, unlike ordinary light which showers on us in many wavelengths. Laser technology is used for an extensive range of professional field measurement applications which
Automotive Air Filter Market
An automotive air filter is a device that is made up of fibrous materials that removes solid particulates like pollen, dust, bacteria, and mould from the intake air. A chemical type of air filter consist of a catalyst or absorbent for removing molecular contaminants like ozone or volatile organic compounds. Air filters are being used in applications where air quality is of vital importance, notably in building ventilation systems and
Automotive Fasteners Market
Fasteners are the mechanical components that holds, joins or affixes two or more parts together, automotive industry is the largest market for the fastener. Automotive fasteners are made up of various materials such as Iron, Aluminum, Brass, Nickel, Stainless steel, Plastic, they are further classified with their distinct characteristics. Automotive fasteners are generally used for the clamping parts of vehicle together to avoid their separation or wobbling, transmitting loads as
Automotive Tires Market
The automotive tires play a very important role in vehicle performance along with the vehicle engine. A tire should be fine enough to carry vehicle weight and pressure on any road with superior breaking performances. The manufacturers focus on enhancing the production and performance capabilities of tires to meet with the growing demands of OEMs as well as secondary market.The automotive tires market is expected to grow rapidly in the
Automotive Actuators Market 2017 - AK, FTE automotive
MarketReports.biz’s Automotive Actuators market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. Request for sample @ https://goo.gl/auN0LC The Players mentioned in our report AK FTE automotive The report includes the forecasts, Analysis and discussion of important industry trends,