Press release
Automotive Leather Upholstery Market Forecasted to Grow at 4.6% CAGR, Reaching US$ 7.0 billion by 2031 - TMR Study
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.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) -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.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - 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.
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