ID: MRFR/AM/4221-HCR | February 2021 | Region: Global | 100 pages
Automotive upholstery market is estimated to witness a 8% CAGR during the forecast period.
The automotive upholstery market is included with any vehicles that come with the seat covers, door insides, spake for the trunk, carpets, door insides, as well as, boot spaces. The main reason why the automotive upholstery market size is increasing is because of the level of comfort provided by these to the passengers, along with a pleasant ambiance that is provided in the form of the vehicle interiors. This market is helping to differentiate between the famous and well-established automotive brands by adding value in comparison to its competitors in the market. The seat covers available for the customers have a commendable design and the material used for the compilation is appealing and provides comfort.
This market is commonly known as the furniture-related work market in different kinds of vehicles - interiors especially. The automotive upholstery industry makes use of different kinds of fabrics to enhance vehicle interiors. The automotive upholstery market is expected to rise at a 8% CAGR growth by the end of the global forecast period in 2027.
COVID 19 Analysis
The interiors of the car are subject to recovering, as well as, reupholstering, which comes inclusive of the carpets, door insides, as well as, others. There is a steep increase in the demand for vehicles, as well as, fancy car interiors. These are likely to strive for the growth of the market during the forecast years. The automotive stands as one of the most affected industries owing to the spread of the pandemic.
The imposition of lockdowns of both temporary and permanent nature had resulted in a sharp decline in the production of new vehicles. The automotive upholstery market is witnessing an inability to match the market demand. Due to these lockdowns, many business and production units have led to temporary, as well as, permanent closures of businesses. This is also likely to hinder the growth of the automotive upholstery market.
The performance and the revenue collection of the key market players in various regions, and around the globe, are necessary to be analyzed. The main reason to conduct this analysis is to draw a competitive margin and have an idea about the dominant automotive upholstery market player. The competitive market players are:
There is an increase in the quantum of vehicle demand in the automotive upholstery market that is included with the availability, customer requirement, and much more. There is an increased awareness amongst the consumers related to automobile interiors. Also, there is a greater level of proximity of the provision of raw materials in the market amid the emerging competition between the firms indulged in automotive operations. Also, the increasing influence of popular media, as well as, the affluent buyers are the major drivers that are driving the automotive upholstery market demand.
These upholstery features can be customized as per your liking and demand, too that is another major driving force for the automotive upholstery market.
The raw materials that are used for designing the car interiors have a fluctuating cost. This affects the overall production cost that is attached to the market’s final products. Hence, in a price-sensitive market, the demand for automotive upholstery products is likely to have a negative effect.
Value Chain Analysis
Owing to the level of customization of the upholstery products, the automotive upholstery market is likely to establish a strong customer base. Social media is also playing a major role in becoming the voice of the advantages and comfort brought in by automotive upholstery products. The influence of social media on the young population is convincing them to own these products, still stimulating a higher CAGR growth by the end of the global forecast in 2023. The cut-throat competition in the market amongst the competitive key players is benefitting the customers with a range and ride availability of products to choose from.
The automotive upholstery market growth is dependent on the performance of the market segments functional in different locations across the globe. The market is segmented based on the following:
The car interiors can be made from leather, handwoven material, vinyl, and cotton, alongside resin, and synthetic leather.
Based on application, the automotive upholstery market deals in products like side, as well as, visor lining, seat cover, and carpet flooring, trunk space, along roof lining. These help in developing various car interiors that are likely to suit the taste and preference of different customer groups.
Type of fabric used
The automotive upholstery market makes use of different kinds of fabric in its final products. These are either woven or knit and can also make use of the hand-crafted varieties. The fabrics are also dependent on the customer preference that is likely to drive the growth of the market by the end of the future forecast period in 2027. The cars that belong to a higher price cap, witness a huge demand for both hand-stitched, and handwoven car covers.
Types of vehicles
Usually, vehicles like passenger cars, as well as, commercial vehicles, make use of the automotive upholstery market. The car seat covers are the most in-demand by potential customers and their customizable nature attracts different car owners.
Based on the geographical regions, the forecast of the market is studied in 4 major locations. These are the Asian Pacific region, North American region, European corner, along with the Rest of the World (RoW).
The USA market of the North American region is witnessing high demand for SUV vehicles with customized interiors. The growth in the demand for personalized car materials amongst the people is likely to help North America, witness decent global growth by the end of the global forecast period. The European population is known for its soft corner towards the high-end automobiles and cars that are available inclusive of the flashy features. Hence, the demand for automotive upholstery is going to witness a good uprise by the end of the global forecast in 2023. The upholstery that has an aesthetic appeal has always been accepted in the European nations. India and China are the two major hubs of automotive in the APAC region. Following the footsteps, Japan is enjoying the position of being an automobile superpower across the globe for many decades. The Asian Population is strongly diverging towards the technologically advanced vehicles and the interiors that add to the physical look of the vehicle.
The global automotive upholstery market report discusses the primary and secondary factors for qualitative and quantitative market growth. The market undertakes the opinion of the industry experts and the key market players to predict the revenues and the market valuation by the end of the global forecast period in 2027. The report studies the impact of the coronavirus outbreak, technological and product developments, and advancements along with other governing factors of the automotive upholstery market. Also, the report broadly conducts the study of the market segment performance across various regions.
This report provides a deep understanding of the past trends in this market, the impact of the pandemic that the market is facing, and how that will affect the future growth and development of the same.
|Market Size||2030: Significant Value|
|CAGR||9% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Type of Fabric, Application, Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Adient PLC (U.S), Lear Corporation (U.S.), Toyota Boshoku (Japan), Faurecia (France), Katzkin (U.S.), Johnson Controls International Plc (Ireland), Grammer AG (Germany), Haartz Corporation (U.S.), Borgers Se & Co. KGaA (Germany), Acme Mills Company (U.S.), Grupo Antolin (Spain), and Seiren Co. (Japan).|
|Key Market Opportunities||Increasing is because of the level of comfort provided by these to the passengers, along with a pleasant ambiance that is provided in the form of the vehicle interiors|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The rise in demand for high-end vehicles is anticipated to drive the expansion of the automotive upholstery market.
The expansion of the automotive upholstery market is poised to be at 9% CAGR.
Fluctuating price of raw materials is poised to drive the growth of the automotive upholstery market.
The segments of the automotive upholstery market, by application, are visor linings, carpet flooring, seat cover, side lining, trunk space, and roof lining.
The key participants of the automotive upholstery market are Adient PLC (U.S), Lear Corporation (U.S.), Toyota Boshoku (Japan), Faurecia (France), Katzkin (U.S.), Johnson Controls International Plc (Ireland), Grammer AG (Germany), Haartz Corporation (U.S.), Borgers Se & Co. KGaA (Germany), Acme Mills Company (U.S.), Grupo Antolin (Spain), and Seiren Co. (Japan).