The global automotive upholstery market has been gaining significant traction over the recent years. Automotive upholstery refers to the fabric or synthetic material that covers seats, door panels, headliners and other soft trim surfaces inside a vehicle. Over the years, vehicle interiors have evolved significantly beyond mere functionality to add superior comfort, aesthetics and value to the overall customer experience. Vehicle manufacturers are emphasizing on high quality, durable and design centric upholstery materials to meet rising consumer demand for premium and luxurious cabin atmosphere. Furthermore, relentless innovation in textiles and manufacturing technologies have facilitated the production of varied upholstery alternatives with versatile performance characteristics. The increasing demand for passenger vehicles across emerged and emerging economies along with extensive developments in automobile interiors are projected to propel growth of the global automotive upholstery market during the forecast period.
Market Dynamics
The global automotive upholstery market is driven by surging vehicle production and sales worldwide. Rapid urbanization, growing living standards and evolving consumer preferences have significantly boosted the automotive industry in recent decades. According to OICA, more than 90 million vehicles were manufactured globally in 2020 despite the economic slowdown induced by the COVID 19 pandemic. Continuous focus of automobile manufacturers on cabin comfort, style and aesthetic appeal also acts as a key growth determinant for upholstery demand. However, high raw material prices owing to volatility in crude oil markets and supply chain disruptions posed by the pandemic pose challenges to market players. Growing popularity of sustainable and eco friendly upholstery materials present new opportunities for manufacturers. In addition, light commercial vehicles and luxury bus segments have been displaying rising uptake of superior upholstery solutions.
Key features of the study
Market Segmentation
Market Segmentation
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