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Automotive Fabric industry Growth
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 21, 2024 /EINPresswire / -- The global automotive fabric
market was valued at $32.13 billion in 2019, and is projected to reach $39.14 billion by 2027, registering a CAGR of 4.8%.
Allied Market Research published a report, titled, "Automotive Fabric Market by Fabric Type (Polyester, Vinyl, Leather, Nylon and Others), Application (Carpets/Floor Covering, Upholstery, Pre-assembled Interior Components, Tires, Safety Belts, Airbags and Others) and Application (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2020–2027."
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Automotive fabrics are technical materials, which are used in vehicles to offer better aesthetic look to the user of the vehicle. They are made of different materials and components to offer better looks to the interior of the vehicle as well as are used to offer comfort to the passengers of the vehicle. Automotive fabrics have wider application in areas such as headliners, cockpit modules, door panels, automotive seats, flooring, vehicle acoustics, and others.
Increased demand for vehicles with better and pleasant aesthetic looks is preferred by customers; hence, vehicle manufacturers are installing different types of fabrics made of different materials such as
polyester, nylon, leather, and others. The availability of alternate and cheap fabric material has led the market toward a positive growth.
Leading Companies in the Automotive Fabric Market
Acme Mills Company
Adient plc.
Heathcoat Fabrics Limited
Lear Corporation
Martur Automotive Seating System
Seiren Co., Ltd.
SRF Limited
Suminoe Textile Co., Ltd.
Toyota Boshoku Corporation
Navbharat Textile Processors
Parishudh Fibres
Shandong Exceeding Auto Interior Parts Co., Ltd.
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The carpet/floor covering segment to maintain its lead position during the forecast period
Based on application, the carpet/floor covering segment contributed to the highest share in 2019, accounting for around one-fourth of the global automotive fabric market , and is projected to maintain its lead position during the forecast period. This is due to availability in different sizes & materials including synthetic rubber or textile materials and protection from dirt and dust. However, the airbags segment is expected to register the highest CAGR of 6.6% from 2020 to 2027, owing to increased car production and introduction of more bags per car.
The passenger vehicle segment to maintain its leadership status during the forecast period
Based on vehicle type, the passenger vehicle segment held the largest market share, contributing to nearly three-fourths of the global automotive fabric market in 2019, and will maintain its leadership status during the forecast period. In addition, this segment is projected to manifest the fastest CAGR of 5.0% from 2020 to 2027. This is attributed to wide application of fabric in passenger vehicles in OEMs and aftermarkets. The report also analyzes the commercial vehicle segment.
Asia-Pacific, followed by Europe and North America, to continue its dominant share by 2027
Based on region, Asia-Pacific, followed by Europe and North America, accounted for the highest share in 2019, holding around two-fifths of the global automotive fabric market , and will continue its dominant share in terms of revenue by 2027. Moreover, this segment is expected to maintain the highest CAGR of 5.7% during the forecast period. This is attributed to increased production and sales of vehicles across various countries in the region.
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Key Findings Of The Study
By fabric type, the others segment is expected to register a significant growth during the forecast period.
Depending on application, the airbags segment is anticipated to exhibit significant growth in the near future.
On the basis of vehicle type, the passenger vehicle segment is projected to lead the global automotive fabric market, owing to higher CAGR.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.