Automotive Upholstery Market Growth Prospects, Top Manufacturers, Opportunities and Forecast by 2023
MarketAnalysis
As per thelatest analysis by Market Research Future (MRFR), the global automotiveupholstery market is predicted to develop at a healthy 9% CAGR between 2017-2023. Automotive upholstery, simply put, includes the car interiors such astrunk space, boot space, carpet, the door insides, and seat covers, amongothers. Its key function is to offer passengers the needed comfort and alsooffer a pleasurable ambiance of the interiors. They are manufactured ofdifferent materials like resin, vinyl, handwoven material, leather, cotton, andsynthetic leather and have wide applications in visor linings, carpet flooring,trunk space, sidelining, carpet flooring, and seat cover. Handcraftedvarieties, woven, and knit are its different fabric types, and commercial &passenger cars are the different vehicle types.
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Various factorsare fueling the automotive upholstery market growth. As per the MRFR analysis,these comprise the burgeoning need for cars, availability of huge varieties,growing customer needs, rising awareness about automobile interiors, breakneckcompetition among top automotive industry players, and higher proximity of rawmaterial suppliers. Additional factors boosting market growth comprise thegrowing influence from the media, rise in affluent buyers, demand for advancedautomotive interiors and automotive technologies, demand for lightweightmaterials, & availability of numerous non-fabric substitutes for automotiveupholstery.
On the flipside, the current COVID-19 pandemic and the volatile raw material price maydeter the global automotiveupholstery market growth during the forecast period.
MarketSegmentation
The automotiveupholstery market has been bifurcated on the basis of type of material, type offabric, application, and vehicle type.
The market byapplication is bifurcated into visor linings, carpet flooring, trunk space,sidelining, carpet flooring, and seat cover. Among these, the seat coversapplication segment will spearhead the market over the forecast period.
The market bytype of fabric is bifurcated into handcrafted varieties, woven, and knit.
The market bytype of material is bifurcated into resin, vinyl, hand woven material, leather,cotton, and synthetic leather. Among these, the synthetic leather materialsegment will stay at the forefront in the market over the forecastperiod.
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The market byvehicle type is bifurcated into commercial & passenger cars. Among these,the passenger car vehicle type segment will lead the market during the forecastperiod.
RegionalAnalysis
Geographically,the global automotive upholstery market has been bifurcated into the AsiaPacific (APAC), Europe, North America, & the Rest of the World (RoW). Ofthese, North America will dominate the market over the forecast period for thegrowing preference for large SUVs, rising sales as well as production of cars,and trend to own personalized cars in the US.
In Europe, theautomotive upholstery market will have the second-largest share during theforecast period for burgeoning demand for upholstery, preference for luxuriouscars having flashing components, need for aesthetically appealing upholstery,and demand for high-end and big cars.
In the APACregion, the automotive upholstery market is predicted to have notable growthover the forecast period for surging need for upholstery in China and India,Japan being the worldwide car superpower, strong inclination towards high-endupholstery, demand for cars that are technologically advanced, increasedpurchase power, increased production of cars, and need for luxury cars.
In the RoW, the automotiveupholstery market is predicted to have steady growth during the forecastperiod.
Key Players
Prominentcontenders profiled in the automotive upholstery market report comprise Katzkin(U.S.), Haartz Corporation (U.S.), Lear Corporation (U.S.), Acme Mills Company(U.S.), Toyota Boshoku (Japan), Grupo Antolin (Spain), Adient PLC(U.S), Borgers Se & Co. KGaA (Germany), Faurecia (France), Seiren Co.(Japan), Grammer AG (Germany), and Johnson Controls International Plc(Ireland).
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