The Automotive Interior Leather Market is anticipated to expand its roots at a steady CAGR of 4.5% between 2023 and 2033. The market is expected to have a market share of US$ 54.27 billion by 2033 while it is likely to be valued at US$ 34.94 billion in 2023.
The increasing preference for lightweight design and optimized efficiency, while also providing relaxation for the driver and passengers, is a major factor driving the growth of the automotive interior leather market. In response to the increasing demand for aesthetically pleasing vehicle interiors, automakers are using artificial leathers in vehicle interior parts such as steering wheels and door panels.
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Car seats, for instance, serve an important role in decreasing a vehicle’s overall weight and expanding its fuel consumption. Furthermore, rising consumer preference for styling, ease, and security is projected to drive demand for automotive interior leather.
Future Market Insights (FMI), an ESOMAR-certified market research and consulting firm, offers insights into the major variables driving consumer interest in Global Automotive Interior Leather in its latest study.
Key Takeaways:
- Over the historical period, the global market grew at a CAGR of 3.9%.
- By 2033, the global market is expected to be worth US$ 54.27 billion.
- In 2022, Asia Pacific had the highest proportion of revenue of more than 42%.
- In terms of revenue, the passenger vehicle segment surpassed the automotive interior leather marketplace with a share of more than 51.5% in 2022.
- The sum vehicle sales in the United States reached 16.60 million in January 2021, up from 16.30 million in December 2020, as reported by Trading Economics.
“Growing demand for replacement and aftermarket deployment of interior leather is expected to benefit the market substantially. This creates prospects for both newcomers and veteran competitors to gain traction. As a result, better custom demand solutions for drivers is anticipated to emerge” says FMI analyst.
Competitive Landscape
Some of the market’s strongest competitors are making investments in studies and research (R&D) in order to facilitate the provision of an extensive selection of leather manufactured in a variety of colors and substances for a variety of applications. Companies hope to keep up with the changing environment by doing so. For instance,
- Sage-ONF, a synthetic leather creator and vendor, began serial manufacturing of silicone artificial leather for automobile interiors in July 2022. In response to high demand from consumers, the sage-ONF plant has begun manufacturing in Shanghai, China.
- ILM organized an exclusive virtual forum in December 2021 that brought together important stakeholders from across the automobile leather distribution network to shed illumination on the key advancements as well as short to long-term circumstances that will impact the sector in the months and decades to come.
Some of the leading companies operating in the market are
- Lear Corporation
- Seiren Co., Ltd
- GST AutoLeather Inc
- BOXMARK Leather GmbH & Co KG
- Bader GmbH & Co. KG
- Katzkin Leather,Inc.
- Leather Resource of America
- WOLLSDORF LEDER SCHMIDT & Co. Ges.m.b.H.
- DK Leather Corporation
- Scottish Leather Group Limited
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Application transformation market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
Global Automotive Interior Leather Market by Category
Material Type:
- Genuine Leather
- Synthetic Leather
- PU Leather
- PVC
Vehicle Type:
- Passenger Cars
- Compact
- Mid-Sized
- Sedan
- Luxury
- Van
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Application:
- Upholstery
- Dashboard
- Seat belts
- Air-bags
- Floor & trunk carpets
- Headliners
- Others
Sales Channel:
- OEM
- Aftermarket
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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