Automotive Fabric Market Size To Reach USD 49.79 BN In 2030 | Rising Demand For Automotive Accessories Among Consumers And Increasing Consumer Preference Towards Modified Interiors Of Passenger Cars Are Some Of The Key Factors Driving Market Growth, says Emergen Research
NEW YORK, Feb. 28, 2022
NEW YORK, Feb. 28, 2022 /PRNewswire/ -- The global automotive fabric market size is expected to reach USD 49.79 Billion in 2030 and register a revenue CAGR of 4.4% during the forecast period, according to a latest report by Reports and Data. Rising demand for automotive accessories among consumers and increasing consumer preference towards modified interiors of passenger cars are key factors expected to drive market revenue growth during the forecast period. In addition, shifiting preference for cruelty-free automotive fabrics among consumers is expected to boost revenue growth of the automotive fabric market between 2022 and 2030. Currently, consumers are highly inclined towards materials that are manufactured without any harm to animals and are highly sustainable to the environment. This is expected to increase demand for cruelty-free fabrics and drive the revenue growth of the global market.
Increasing adoption of automotive fabrics, which are anti-bacterial, anti-static, and odor absorbent, is creating higher demand for automotive fabrics. This is another factor expected to boost market revenue growth in the years to come. Additionally, rising consumer preference towards modified and customized interiors for aesthetic appearance of passenger cars is expected to boost revenue growth of the global market.
However, concerns regarding quality and durability of automotive fabrics is one of the factors that could restraint revenue growth of the global market. Additionally, some manufacturers could use low quality and less durable automotive fabrics due to comparatively higher cost of the product, limiting the adoption of automotive fabrics. Some fabric materials need regular cleaning to protect it from damage from exposure to sun, which increases cost of fabric maintenance. These factors could restrain revenue growth of the global market to some extent.
Request a Sample Report – @ https://www.reportsanddata.com/sample-enquiry-form/1056
Some Key Highlights in the Report
- Vinyl segment is expected to register steady revenue growth rate over the forecast period. Rising adoption of rigid, easy to handle, and durable fabrics for automotive is leading to rising demand for vinyl fabric among consumers, which is expected to boost revenue growth of the segment. Vinyl fabrics are also used in interior parts of door panels and dashboards due to high durability property of the product, which is expected to boost revenue growth of the segment.
- Tires segment is expected to register steady revenue growth rate over the forecast period. Rising usage of automotive fabrics in tires for additional strength and support vehicle weight is creating higher demand for automotive fabrics for use in tires, which is expected to drive growth of the segment.
- Commercial vehicle segment is expected to register steady revenue growth rate over the forecast period due to rising adoption of wrinkle- and water-resistant automotive fabrics for use in commercial vehicles is creating higher demand for automotive fabrics in commercial vehicles, which is expected to drive revenue growth of the segment.
Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/1056
- The market in North America is expected to register considerably high revenue CAGR over the forecast period. Increasing technological advancements in the automotive industry and increased consumer inclination towards more advanced automotive fabrics that provide aesthetic appearance to vehicles are factors expected to drive revenue growth of the market in the region. Additionally, rising need for more efficient and cost-effective automotive fabrics is increasing product demand in various countries in the region, which is expected to drive revenue growth of the North America automotive fabric market.
- Companies profiled in the global market report include Adient Plc, Lear Corporation, Toyota Boshoku Corporation, Seiren Co., Ltd., Suminoe Textile Co., Ltd., SRF Limited, Grupo Antolin Irausa, S.A, Heathcoat Fabrics Limited, Aunde Group SE, and Tesca Technologies Pvt. Ltd.
- In August 2020, Adient Plc, global leader in automotive seating, announced closing of the transactions contemplated by its previously announced definitive joint venture agreement with Yagfeng Automotive Trim Systems Co. Ltd., to change the existing transaction relationship between the companies.
To identify the key trends in the industry, research study at : https://www.reportsanddata.com/report-detail/automotive-fabric-market
For the purpose of this report, Reports and Data has segmented the global automotive fabric market based on fabric type, application, vehicle type, and region:
- Fabric Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Application Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Floor Covering
- Pre-assemble Interior Component
- Air Bags
- Safety Belts
- Vehicle Type Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- Passenger Vehicle
- Commercial Vehicl
a. Light Commercial Vehicle
b. Heavy Trucks
c. Buses & Coaches
Buy Premium Research Report @ https://www.reportsanddata.com/checkout-form/1056
- Regional Outlook (Revenue, USD Billion, Volume, Million, Square Meter; 2019-2030)
- North America
h. Rest of Europe
- Asia Pacific
d. South Korea
e. Rest of APAC
- Latin America
b. Rest of LATAM
- Middle East & Africa
a. Saudi Arabia
c. South Africa
e. Rest of MEA
Explore Trending Research Reports by Reports and Data:
Automotive Flooring Market is projected to grow at a CAGR of 6.9% from USD 768.6 million in 2019 to USD 1.32 billion in 2027. The industry expects to be driven by an increased incidence in the production of automobiles worldwide and is expected to be one of the key drivers for market growth over the forecast period.
Automotive Coatings Market is forecast to grow at a rate of 4.5% in terms of value, from USD 20.42 billion in 2019 to reach USD 29.14 billion by 2027. The rise in the automotive industry is owing to a growing tendency in millennials to buy their vehicle, and the easy availability of automotive loans should encourage market growth
Automotive Plastic Fasteners market is forecasted to grow at a rate of 15.3% from USD 3.32 billion in 2019 to USD 9.78 billion in 2027. Due to their lightweight, relatively cheap, and technical advances to develop their qualities in terms of strength and mechanical characteristics, the plastic fasteners industry is anticipated to witness considerable growth in automotive applications.
Electrical Steel Market is projected to grow at a CAGR of 10.8% from USD 10.86 billion in 2019 to USD 24.40 billion in 2027. The major factors contributing to this growth is the increase in investments in infrastructure development and urbanization across the world.
Automotive Composite Market is projected to grow at a CAGR of 10.8% from USD 4.86 billion in 2019 to USD 10.92 billion in 2027. The increasing demand for fuel-efficient lightweight vehicles, the growing popularity of electric and hybrid cars, the increase in adoption of luxurious cars, and supportive government regulations are primarily driving the market's growth during the forecast period.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-automotive-fabric-market
View original content:https://www.prnewswire.com/news-releases/automotive-fabric-market-size-to-reach-usd-49-79-bn-in-2030--rising-demand-for-automotive-accessories-among-consumers-and-increasing-consumer-preference-towards-modified-interiors-of-passenger-cars-are-some-of-the-key-factors-dri-301491630.html
SOURCE Emergen Research