NEWARK, Del, May 16, 2023 (GLOBE NEWSWIRE) -- 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 leather in vehicle interior parts such as steering wheels and door panels.
For example, car seats play a significant part in reducing a vehicle's overall weight and increasing its fuel consumption. Additionally, it is anticipated that increasing consumer desire for convenience, security, and style would increase demand for leather in automobile interiors.
In its most recent analysis, Future Market Insights (FMI), an ESOMAR-certified market research and consultancy business, provides information on the key factors influencing consumer interest in global automotive interior leather.
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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 an analyst at FMI.
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.
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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.
Market by Categorization:
By Material Type:
- Genuine Leather
- Synthetic Leather
- PU Leather
- PVC
By Vehicle Type:
- Passenger Cars
- Compact
- Mid-Sized
- Sedan
- Luxury
- Van
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Application:
- Upholstery
- Dashboard
- Seat belts
- Airbags
- Floor & trunk carpets
- Headliners
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Scope of the Report:
| Attribute | Details |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ Million for value and Sq meters for Volume |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, Poland China, Japan, South Korea, India, ASEAN, GCC Countries, South Africa |
| Key Segments Covered | Material Type, Vehicle Type, Application, Sales Channel and Region |
| Key Companies Profiled |
|
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Table of Content (ToC):
1. Executive Summary | Automotive Interior Leather Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Sq meters) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Sq meters) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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Explore Wide-ranging Coverage of FMI’s Automotive Landscape:
USA Automotive and Aircraft Interior Genuine Leather Aftermarket Size: Is likely to hold a revenue of US$ 8.36 Billion in 2023 while it is anticipated to cross a value of US$ 11.79 Billion by 2033.
Global Automotive Interior Ambient Lighting System Market Share: Reaching a value of about US$ 4,660.0 Million by 2032 end.
Automotive Soft Trim Interior Materials Market Demand: Is projected to reach US$ 9179 Million by 2032, indexing a CAGR of 4.8% by the end of the forecast period.
EV Charging Station Market Growth: Is expected to surpass US$ 113,889.1 Million in the next decade. Between 2023 and 2033, the market has been forecast to record a CAGR of 26.6%.
Battery Swapping Charging Infrastructure Market Trends: Is expected to reach a valuation of US$ 202.07 Million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 21% from 2023 to 2033.
EV Charging Cables Market Outlook: Is projected to witness double-digit growth at a CAGR of 22.2% between 2022 and 2032.
Electric Kick Scooter Market Demand: This is likely to be valued at US$ 2.7 Billion in 2023 and exhibit a revenue growth of US$ 8.2 Billion by 2033.
Electric Scooters Market Size: Is expected to increase significantly, expanding at a CAGR of 9% by the year 2032.
EV Battery Heating System Market Share: Is projected to register at a moderate-paced CAGR of 18.7% over the forecast period. The EV battery heating system market is currently valued at US$ 3113.6 Million in 2023.
Zero Emission Vehicle Market Trends: Is expected to grow at a massive CAGR of 25.4% during the period 2023 to 2033. The market is valued at US$ 248 Billion as on 2023, and by 2033, the market is expected to hit a valuation of US$ 2,384.66 Billion.
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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