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.
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 vehicles 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.
Agricultural Haying And Forage Machinery Market Major players: Deere & Company (John Deere), CNH Industrial , AGCO Corporation , CLAAS, Mahindra Tractor , Krone North America Inc., Kuhn Group, Yanmar Company Limited, Kubota Corporation, etc.
Global Agricultural Haying And Forage Machinery Market, Segmented By Machinery Type: Mowers, Balers, Tedders & Rakes, Forage Harvesters.
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.
- In 2016: Faurecias 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.
Regions Covered in this report are as Follows:
United States, North America (Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa), RoW (Rest of World).
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