Automotive Upholstery Market Forecast : $12.2 Billion By 2032, Growing At 7.2% CAGR  AMR
Automotive Upholstery Market Forecast : $12.2 Billion By 2032, Growing At 7.2% CAGR  AMR . (MENAFN - EIN Presswire) 
 WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 21, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,–Automotive ...
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(MENAFN- EIN Presswire) WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 21, 2024 /EINPresswire / -- According to a new report published by Allied Research, titled,“Automotive Upholstery Market ," The automotive upholstery market size was valued at $6.3 billion in 2022, and is estimated to reach $12.2 billion by 2032, growing at a CAGR of 7.2% from 2023 to 2032.



Automotive upholstery is the process of covering and cushioning the interior of a vehicle, including seats, door panels, and headliners. It often includes reupholstering, restoring seats, and trimming the interior. These materials serve both functional and aesthetic purposes, providing the comfort, protection, and overall appearance of the vehicle's interior. Further, this upholstery process requires the mastery of explicit knowledge and skills, including specialized machinery and materials, particularly in late-model vehicles. In addition, selecting a suitable material for vehicle seating is of paramount importance to improve comfort level. Material of high grade is also likely to deliver optimal durability and ease of upkeep. Thus, automobile producers are taking a keen interest in using advanced upholstery to provide both functional benefits and visual appeal to passengers and drivers.



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Growing production and sales of automobiles across developed and developing economies, along with the rising popularity of lightweight upholstery materials for automobiles drive the market growth across the globe. In addition, the implementation of stringent emission norms by regulatory authorities and government bodies is anticipated to strengthen the demand potential for the automotive upholstery market share. However, the high cost of raw materials, coupled with the stringent regulations and standards for environmental safety is expected to hamper the automotive upholstery market growth. However, technological advancements and innovations in bio-degradable materials, along with the surge in preference for synthetic leather are anticipated to provide numerous opportunities for the expansion of the automotive upholstery market analysis during the forecast period.



Furthermore, the rise in demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) has led to considerable growth in the adoption of automotive upholstery. Just like in conventional vehicles, upholstery in electric vehicles delivers comfort to passengers by cushioning seats and providing a pleasant tactile experience. It also contributes to the interior aesthetics, improving the overall appeal of the vehicle. For instance, electric vehicles and hybrids accounted for almost 18% of new light-duty vehicle sales in the third quarter of 2023. The surge in vehicles from 12% in 2022 and less than 9% in 2021, according to the data from the Energy Information Administration (EIA). This significant growth in electric vehicles and hybrid vehicles globally has contributed to a rise in demand for the automotive upholstery market growth.



However, the high cost of upholstery raw materials as compared to conventional materials is a significant hindrance to market growth. Further, the automotive upholstery industry often faces cost pressures from numerous other fronts, such as labor and transportation. Fluctuations in the prices of raw materials, including leather, synthetic fabrics, and foam may directly impact production costs, which in turn, affects profitability for manufacturers and potentially leads to higher prices for consumers. Moreover, The automotive upholstery industry is highly competitive, with a range of players vying for market share. Market saturation in certain segments, along with intense price competition, may exert downward pressure on profit margins and hamper the growth prospects of the automotive upholstery market forecast.



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Region-wise, the automotive upholstery market was dominated by Asia-Pacific in 2022 and is expected to retain its position during the forecast period, owing to the diverse consumer preferences and design trends for vehicle interiors in the region. However, Europe is expected to hold significant market capture during the forecast period, owing to the growing rate of vehicle ownership, along with the rise in technological innovation in the automotive industry, particularly in electric vehicles, across the region.



The automotive upholstery market is segmented into material type, application, sales channel, vehicle type, and region. Depending on the material type, it is categorized into leather, vinyl, polyester, nylon, and others. Depending on the application, it is categorized into seat cover, carpet, dashboard, and others. By sales channel, it is divided into OEM and aftermarket. By vehicle type, it is fragmented into passenger cars and commercial vehicles. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.



Leading Market Players :



Adient plc,



BASF SE,



FORVIA Faurecia,



Freudenberg Group,



Grupo Antolin Irausa S.A,



MarvelVinyls,



Sage Automotive Interiors,



SEIREN Co., Ltd.,



The Acme Group,



Toyota Boshoku Corporation.



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Key Findings Of The Study :



On the basis of material type, the leather segment is anticipated to exhibit significant growth in the automotive upholstery market during the forecast period.



On the basis of application, the seat cover segment is projected to exhibit significant growth in the market during the forecast period.



By sales channel, the aftermarket segment is projected to exhibit significant growth in the market during the forecast period.



By vehicle type, the commercial vehicle segment is predicted to exhibit significant growth in the market during the forecast period.



By Region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.



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About us :



Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.



We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa

Allied Market Research

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2024-11-20
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(MENAFN - EIN Presswire) 
 WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 21, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,–Automotive ...
Automotive Upholstery Market Forecast : $12.2 Billion By 2032, Growing At 7.2% CAGR  AMR