The Global Automotive Interior Leather Market is estimated to be valued at USD 34.6 Billion by 2029 and is projected to register a CAGR of 5.5% during the forecast period 2019-2029.
The rapid increase in the automotive industry has contributed to the growth of the market. A rise in disposable income has also stimulated the market.
The automotive interior leather market has been classified on the basis of material, application, vehicle type, and region. On the basis of material, the market is segmented into synthetic leather and genuine leather. There has been a surge in demand for synthetic leather. Synthetic leather is the cheaper alternative of genuine leather. The cost of production of synthetic leather is cheaper than genuine leather. Synthetic leather also has an easier process of manufacturing. Such advantages have led to more demand for synthetic which resulted in the escalation of the market. Government regulations are also playing a significant role in the promotion of synthetic leather and in the expansion of the automotive interior leather market.
On the basis of application, the market is divided into upholstery, steering, carpet, headliner, and others. Upholstery is expected to spur the size of the market. It provides comfort to the seats with fabric and leather covers. Upholstery offers merits like premium finish, durability, and a softer feel. All these factors have led to a huge demand for upholstery which resulted in the expansion of the automotive interior leather market.
On the basis of vehicle type, the market is bifurcated into a commercial vehicle and passenger vehicle. A passenger vehicle is expected to dominate the growth of the market. Passenger vehicles offer premium services as genuine leather, headliners, dashboard and center console. Rapid demand of passenger vehicle in economies like India and China is witnessed to trigger the growth of the market. Passenger vehicle offers protection from dust and heat.
In terms of region, North America holds a vast majority of the share of the market. Asia-Pacific region is expected to inflate the size of the market during the forecast period. The increase in per capita income alongside rising in demand of vehicle has boosted the presence of the market in the region. Developing economies like India and China are the biggest producer of automobiles globally. Europe is also envisioned to be a lucrative region for the automotive interior leather market. Europe is home to some of the biggest automobile manufacturers which in turn would fuel the growth of the market in the region.
Prominent players of the market are Classic Soft Trim, Alphaline Auto, Gruppo Mastrotto Spa, Scottish Leather Group Limited, Mayur Uniquoters Limited, Eagle Ottawa and Fauercia.
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Global Automotive Interior Leather Market Segmentation:
By Material
• Genuine Leather
• Synthetic Leather
By Application
• Upholster
• Steering
• Carpet
• Headliners
• Others
By Vehicle
• Passenger Vehicle
• Commercial Vehicle
By Region:
• North America
• Latin America
• Europe
• Asia-Pacific
• Rest of the World
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Competitive Landscape:
● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global automotive interior market by material, by application, by vehicle, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies
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