Automotive Leather Upholstery Market Projected to Exhibit Growth at 4.6% CAGR by 2031- TMR Study

According to the report, the global automotive leather upholstery market is projected to surpass US$ 10.71 Bn by 2031, expanding at a CAGR of 4.58% during the forecast period. Consistent R&D in the field of automotive textile material has led to the availability of a wide variety of materials with different prices and qualities, which is likely to boost the automotive leather upholstery market during the forecast period. The rise in the demand for premium and luxury vehicles that have dynamic vehicle interior is likely to fuel the automotive leather upholstery market across the globe.

For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles. Consumers' preference for personal mobility continues to drive the demand for passenger cars. Consumers are inclined toward personal mobility than public mode of transportation. Globally, the transition of lower middle class population to upper middle class population and the increasing spending capacity of people are enabling more number of consumers to own a personal vehicle.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞-
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𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭

The surge in trade volume, owing to the rising bilateral trade among countries is projected to boost the automotive leather upholstery market during the forecast period. China witnessed a rise in both general trade volume and proportion, escalating to 15.66 Trn Yuan. China trade volume accounted for 56.4% of the total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.

Based on vehicle type, the global automotive leather upholstery market has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. This is primarily due to the rise in the production of passenger vehicles across the globe. The increase in the adoption of the seating technology in passenger vehicles, including heated and ventilated seats, is estimated to offer lucrative opportunities for the automotive leather upholstery market players across the globe.

In terms of material, the genuine leather segment held a major share of the global automotive leather upholstery market in 2020, owing to an increase in the demand for luxurious vehicle across the region, which, in turn, is likely to propel the automotive leather upholstery market. Synthetic leather offers the same feel and comfort as genuine leather, and it is much cheaper.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞-
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=81079

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of region, the global automotive leather upholstery market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive leather upholstery market in 2020. It is anticipated to hold a leading share during the forecast period, due to rise in the production and sale of vehicles in China and countries in ASEAN. Followed by Asia Pacific, Europe also held a significant share of the global automotive leather upholstery market due to the rise in the demand for premium vehicles in the region.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭

Prominent players operating in the global automotive leather upholstery market include Alea Leather Specialist Inc./ Sunguard Group, BASF SE, Beijing Automotive Group, Chang'an Automobile Group, Classic Soft Trim, Dk Leather Corporation Berhad, FAW Group Corporation, Gst Autoleather Inc., Katzkin Leather Inc., Kuraray Co. Ltd., Lear Corporation, Toyota Boshoku Corporation, and Wollsdorf Leder Schmidt & Co Ges.M.B.H.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 @
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𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞

Passenger Vehicle
Hatchback
Sedan
Utility Vehicle
Commercial Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
Bus & Coaches

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥

Genuine Leather
Synthetic Leather

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Upholstery
Headliners
Carpet
Others

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

OEM
Aftermarket

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐞𝐚𝐭𝐡𝐞𝐫 𝐔𝐩𝐡𝐨𝐥𝐬𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

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