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(Transportation-News.com, February 16, 2018 ) The global automotive upholstery market is expected to register a CAGR of 8.92% during forecast period, 2018-2023. Leather upholstery and vinyl upholstery will see the highest rates of growth during the forecast period.
Browse details of 116 pages research report developed on Global Automotive Upholstery Market @ https://www.researchcosmos.com/reports/global-automotive-upholstery-market-analysis-of-growth-trends-and-forecast-2018-2023/3554694
Growing Demand for Comprehensive Interiors
Automotive upholstery plays a vital part of the interiors, both in the line fit and retrofit market, where seats alone accounted for 5% of the vehicle’s cost and 6% of its weight. Car buyers, especially in the Asia-Pacific and Middle East regions are very particular about the interiors of the vehicle. They demand relatively better quality of upholstery than their European counterparts. This trend will propel the growth of the premium upholstery market. In addition, super luxury cars sales across the globe in 2016 has increased to 15.9% on 2015 which has majorly fueled by the United States and followed by UK and China.
The Asia-Pacific region, led by China, Japan, and India, is currently the largest market for automotive upholstery and is expected to lead the growth in the forecast period.
Customization in the Upholstery, Expanded Aftermarket Share
The original equipment manufacturers (OEMs) are expected to register faster growth than the aftermarket but the aftermarket suppliers will see an expansion of the market. Factors such as the greater customization trends, rising mechatronics in automotive upholstery design, and rise in the affordability range from buyers significantly contributed to aftermarket share of about 30% of the automotive upholstery market. The average cost of vehicles is increasing gradually in the Asia-Pacific region and this will boost the market for the original equipment manufacturers.
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Key Developments in the Market:
• In 2016: Faurecia’s Cover Carving Techology for automotive seats, has won the Automotive News PACE Award. The technology was successful in cutting the tooling costs by 80% and is 50% lighter when compared to a plastic back panel.
• In 2016: Mercedes-Benz banged first in the global luxury brand sales pushing back BMW and Audi, where the Mercedes-Benz models majorly supplied with standard Tunja fabric for Upholstery.
Major Players:
• FAURECIA
• JOHNSON CONTROLS
• TOYOTA BOSHOKU
• KATZKIN
• OTHERS
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Reasons to Purchase this Report:
• Latest technology trends adopted by the manufacturers in the automotive upholstery market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Study on material type and end markets that are expected to dominate the market.
• Study on the regions that are expected to witness fastest growth during the forecast period.
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate Sheet (in excel).
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