Automotive Interior Leather Market Estimated to Record Highest CAGR by 2026

Global automotive interior leather market was valued at nearly US$ 26,000 Mn by 2016 end and is expected to reach nearly US$ 43,000 Mn by the end of 2026, registering a CAGR of 5.2% over the forecast period. The global automotive interior leather market is anticipated to represent incremental opportunity of nearly US$ 17,000 Mn between 2016 and 2026. In terms of volume, the global automotive interior leather market is estimated to reach 960,546 ‘000 Sq. Meter by 2026, exhibiting a CAGR of 3.7% over the forecast period.

Global Automotive Interior Leather Market Analysis and Forecast, by Application

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The upholstery segment is estimated to grow at a relatively high CAGR during the forecast period

The upholstery segment is expected to gain 370 BPS in the global automotive interior leather market between 2016 and 2026, accounting for more than 30% value share by the end of 2026. The upholstery segment is estimated to register rapid growth over the forecast period owing to high demand for leather from upholstery manufacturers. The others segment is expected to lose 260 BPS in the global automotive interior leather market between 2016 and 2026, accounting for close to 19% value share by the end of 2026.

Global Automotive Interior Leather Market Absolute Dollar Opportunity Analysis, By Application

Upholstery

The upholstery segment is expected to create total incremental opportunity of nearly US$ 7,000 Mn between 2016 and 2026. The upholstery segment is expected to account for more than 35% share of the incremental opportunity of the global market during the same period. The upholstery segment in the North America automotive interior leather market is expected to account for nearly 14% share of this incremental opportunity during the same period.

Dashboard

The dashboard segment is anticipated to create total incremental opportunity of nearly US$ 1,000 Mn between 2016 and 2026. The dashboard segment is expected to account for a little over 4% share of the incremental opportunity of the global market during the same period. The dashboard segment in the APEJ automotive interior leather market is expected to account for over 40% share of this incremental opportunity during the same period.

Seat belt

The seat belt segment is projected to create total incremental opportunity of nearly US$ 1,200 Mn between 2016 and 2026. The seat belt segment is estimated to account for 7% share of the incremental opportunity of the global market during the same period. The seat belt segment in the Eastern Europe automotive interior leather market is expected to account for approximately 6% share of this incremental opportunity during the same period.

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Airbag

The airbag segment is estimated to record total incremental opportunity of nearly US$ 1,000 Mn between 2016 and 2026. The airbag segment is anticipated to account for a little over 4% share of the incremental opportunity of the global market during the same period. The airbag segment in the Latin America automotive interior leather market is expected to account for 9.6% share of this incremental opportunity during the same period.

Floor & Trunk Carpet

The floor & trunk carpet segment is predicted to create total incremental opportunity of nearly US$ 1,200 Mn between 2016 and 2026. The floor & trunk carpet segment is expected to account for more than 6% share of the incremental opportunity of the global market during the same period. The floor & trunk carpet segment in the Western Europe automotive interior leather market is expected to account for 15.5% share of this incremental opportunity during the same period.

Analyst Viewpoint

Sustainable Leather Production Witnessing High Growth Opportunity

Incorporation of green technology in the automotive industry is a major opportunity for growth and is set to help market players increase their market share and business revenue. The automotive interior leather industry is following in the footsteps of the automotive industry with the adoption of green technology for the manufacturing of automotive leather.

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This release was published on openPR.