Market Research Future published a research report on “Automotive Interior Leather Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India -- (SBWIRE) -- 01/11/2018 -- Global Automotive Interior Leather Market Information by material (Synthetic Leather, Genuine Leather and others), by Vehicle type (Passenger vehicle, Commercial vehicle) by application (upholstery, seats, dashboard, cockpit, steering wheel, and others) - Forecast to 2023
Market Synopsis of Automotive Interior Leather Market
Automotive interior leather is designed to provide comfort and to improve the visual appeal of the interior of the vehicle. It also leaves the vehicle with a remarkable appearance and feel. It is used widely for automotive interiors across the globe, especially in midrange and premium passenger vehicles. Growing spending capacity and rapid developments in automobile manufacturing, are pushing the market towards growth. The interior of a vehicle that adds to the aesthetic appeal of a vehicle, is also a major factor that influences consumer buying decision.
Low cost, longer operational life and extended warranties are some factors helping the market growth while high initial investment and improper disposal of effluents, act as barriers for the interior leather insulated market.
The Global Automotive Interior Leather Market was valued at around USD 26,000 million in 2015 and is expected to cross USD 32,000 Million by 2023 at CAGR of 5.1 %.
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Automotive interior materials enhance the internal ambience of a vehicle and are designed to maximize the comfort and driving experience to end-users. These materials also help minimize fatigue and offers comfort. Apart from providing a premium look and feel, it provides certain functional advantages over the conventional materials used in car interiors. These include longevity, easy cleaning, and anti-allergic properties of high-grain leather. Increase in aesthetic appeal in compact and mid-size cars, technological advancements, rising demand for hybrid & electric vehicles, and increasing private equity investments are some of the factors driving the market towards growth.
The market has been analyzed based on materials, vehicle types, applications and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of material the segments are Synthetic Leather, Genuine Leather, and others. Synthetic leather is the largest material segment of the automotive interior leather materials used in different vehicle types. On the basis of vehicle types they include Passenger vehicle, and Commercial vehicle. Passenger vehicles is the largest vehicle type segment that requires more automotive interior materials, as the number of passenger vehicles is the highest. On the basis of application, the market is segmented as upholstery, seats, dashboard, cockpit, steering wheel, and others. The upholstery segment is estimated to grow at a relatively higher CAGR during the forecast period.
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Regional Analysis of Global Automotive Interior Leather Market
Asia pacific will be the largest market
Asia-Pacific is expected to remain the largest region due to continuously growing automotive sector, owing to the presence of manufacturers in the developing nations such as China and India. Increasing necessity of owning a car, and the improving living standard, are some of the factors that help in the market growth. Moreover, rapid economic growth and rising population are driving the demand for automotive interior materials in countries such as India.
In North America, the U.S. has been showing steady growth and is one of the dominant automotive interior materials markets in the world.
The key players of global automotive interior leather market include Johnson Controls Inc (U.S.), Toyota Boshoku Corporation (Japan), Lear Corporation (U.S.), Toyoda Gosei Co., Ltd. (Japan), and Faurecia S.A. (France), Gst Autoleather, Inc.(U.S.), DK Leather Corporation Berhad (Malaysia), BASF SE (Germany), Alea Leather Specialist Inc / Sunguard Group (U.S.) and Grammer AG (Germany)
- Raw Materials Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
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