Automotive Upholstery Demand Rising at a Stellar 7.1% CAGR to Reach USD 10 Billion by 2033: Fact.MR Report

Increasing vehicle production, soaring demand for comfort and personalized automotive interiors, and growing awareness regarding upholstery materials and vehicle safety are the main factors driving global automotive upholstery market expansion.

Rockville, March 16, 2023 (GLOBE NEWSWIRE) -- As per this new study by Fact.MR, a provider of market research and competitive intelligence, the global automotive upholstery market is forecasted to achieve a valuation of US$ 10 billion by 2033, rising at 7.1% CAGR by 2033.

Automotive upholstery is the material that covers the seats, liners, dashboards, and other components of an automobile. These product materials cover several interior components of a car. These materials are used on the interiors of vehicles and include the recovery, upholstering, and refurbishment of seats and other parts of a vehicle. The main necessity for the product is to protect the interiors of a car from abrasion, wear and tear, and damage caused by regular use. Moreover, it offers an appealing design and is utilized for decorative purposes. Automotive upholstery is utilized in a variety of sections of both passenger and commercial vehicles.

Download Free Sample Copy of This Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=8433

The world's rising population is driving the demand for both personal and commercial vehicles. This, combined with expanding urbanization and rising disposable income levels, is raising sales of luxury automobiles with improved features, premium upholstery, pleasant interiors, and enhanced safety features, hence propelling market expansion.

In recent years, increased demand for automobiles has resulted in an increase in production. Buying a car has become a necessity, with sales steadily rising over the years. The automotive upholstery market is projected to see significant revenue growth as vehicle sales increase. Customers are increasingly interested in premium automotive interiors, with a preference for lightweight automotive materials for upholstery.

Expanding public knowledge of the benefits of automotive upholstery, such as customization, durability, protection from environmental conditions, and ease of maintenance, is encouraging their broad acceptance in automobiles. Aside from that, many innovations and technological breakthroughs in the automotive industry are driving market participants to diversify their product portfolios and enhance sales.

Key Takeaways from Market Study

The global automotive upholstery market amounted to US$ 5 billion in 2023.

Global demand for automotive upholstery is predicted to rise at a CAGR of 7.1% from 2023 to 2033.

The market is anticipated to reach a size of US$ 10 billion by 2033.

North America accounted for 35% share of the worldwide market in 2022.

Get Customization on this Report for Specific Research Solutions – https://www.factmr.com/connectus/sample?flag=RC&rep_id=8433

Competitive Landscape

The worldwide market is competitive and fragmented because of a few well-established local, regional, and international companies. Automotive upholstery companies are raising their R&D efforts to expand their product variety and customer base. Moreover, several start-ups in the global market are focusing on new developments.

Lear Corporation acquired Kongsberg Automotive's Interior Comfort Systems (ICS) business unit in October 2022. In addition, the company intends to broaden its product portfolio to include specialist comfort seating solutions to enhance vehicle performance and packaging.

Toyota Boshoku Corporation announced the creation of new seats and other interior parts for Toyota Motor Corporation's all-new Aqua, which features an expansive baggage compartment and motor core fitted headliners, in August 2021.

Key Companies Profiled

BASF SE

Borgers SE & Co. KGaA

BASF Corporation

Cha Technologies Group

Hyosung Corporation

Johns Manville

Hollingsworth & Vose Company

Freudenberg SE

Seitec Co., Ltd

Regional Analysis

North America is dominating the global automotive upholstery market. The United States is supporting regional market growth due to the country's rising demand for electric vehicles. Moreover, Japan and South Korea are contributing significantly to the Asia Pacific market due to increasing manufacturing and sales of vehicles. Furthermore, Germany is the leading market in Europe due to the growing demand for electric and premium vehicles.

Key Segments of Automotive Upholstery Industry Research

By Material:

Synthetic Leather

Thermoplastic Polymers

Leather

Automotive Textiles

Smart Fabric

Plastic

By Application :

Seat Covers

Carpets

Roof Liners

Dashboards

Trunk Lines

Sun Visors

By Region :

North America

Latin America

Europe

Asia Pacific & China

Middle East & Africa

Quick Buy (Special Offer Save 20% Now): Automotive Upholstery Market – https://www.factmr.com/checkout/8433

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global automotive upholstery market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on material (synthetic leather, thermoplastic polymers, leather, automotive textiles, smart fabric, plastic) and application (seat covers, carpets, roof liners, dashboards, trunk lines, sun visors), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Key Questions Covered in the Automotive Upholstery Market Report

What will be the estimated size of the Market in 2023?

At what rate will the global Automotive Upholstery sales grow until 2033?

Which are the factors hampering the Automotive Upholstery demand?

Which region will spearhead the growth in the global industry during 2023-2033?

Which are the factors driving sales in the Automotive Upholstery Market during the forecast period?

Check out more related studies published by Fact.MR Research:

Automotive Engine Cooling Fan Market Research: Automotive Engine Cooling Fan Market research report covers detailed information on Global Automotive Engine Cooling Fan Market Size, Share, application, competition and growth opportunities till 2029.

Automotive Additives Market Share : The global automotive additives market share is estimated at USD 8.2 Billion in 2022 and is forecast to reach USD 13.2 Billion by 2032, growing at a CAGR of 4.9% during 2022-2032.

Automotive and Off-Road Vehicle Hoses Market Sales : Automotive and off-road vehicle hoses is forecasted to expand ta healthy 5.4% CAGR. Electric Vehicles boost the automotive and off-road vehicle market sales. The main traits of automotive hoses are hollow pipes that are used for fluid transfer in vehicle engines.

Automotive Plastic Bumper Market Demand: Global demand for automotive plastic bumper stands at US$ 13.1 billion in 2023 and is forecasted to rise steadily at 4% CAGR over the next ten years. By 2033-end, the global automotive plastic bumper market is extrapolated to attain US$ 19.4 billion in revenue.

About Fact.MRWe are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

Contact: US Sales Office11140 Rockville PikeSuite 400Rockville, MD 20852United StatesTel: +1 (628) 251-1583, +353-1-4434-232 (D) Connect to Author: Mr. Shubham Patidar Email : [email protected]Sales Team : [email protected] Follow Us: LinkedIn | Twitter | YouTube