Automotive Interior Leather Market Growth & Trends
The global automotive interior leather market size is anticipated to reach USD 54.22 billion by 2030, according to a new study by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.43% from 2023 to 2030. The primary reason driving the growth of the market is the increasing need for lightweight designs and high efficiency, which also offer comfort for the driver and passengers. Moreover, the rising demand from the automotive industry and the need for improved aesthetics in car interior components is expected to drive the market growth over the forecast period.
To improve the feel and appearance of a car, automotive interior leather is utilized in the upholstery and interior. The leather’s feel and texture can be felt by both the passenger and the driver. It is an important component of the automobile business since it can cover the entertainment system, controllers, and steering, which is utilized to improve the aesthetics of the car. Due to its extraordinary durability and upscale appearance, leather is frequently utilized in automobile interiors.
Leather is utilized in a range of interior automotive components, including the transmission, consoles, seats, entertainment systems, instrument panels, and interior design. Due to the high degree of leather flexibility, leather is exceptionally comfortable and resistant to alcohol, extreme heat, water, stains, and cold, which also lengthens its durability and reduces maintenance expenses. In addition, the expansion of the automotive leather upholstery market is being aided by the increase in passenger car sales globally.
Furthermore, the demand for hybrid electrical vehicles (HEVs) driven by a combination of IC engines and electric motors is rising as more stringent environmental rules and pollution control criteria are put into place. The global market is anticipated to increase rapidly in the coming years due to the high demand for cutting-edge weather solutions like thermal cool leather, anti-soiling leather, and antimicrobial & antibacterial leather.
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Automotive Interior Leather Market Report
Automotive Interior Leather Market Report Highlights
- In terms of region, Asia Pacific dominated the market with the largest revenue share of over 41% in 2022 and is expected to continue its dominance over the forecast period. The growth in automotive production in the region along with the rise in consumer spending is expected to boost the demand for leather interiors, thus driving the market growth over the forecast period
- Based on application, the seats & center stack segment dominated the market in 2022 with the largest revenue share of over 31.70%. The increasing demand for leather in car interiors in seats & center stack is expected to grow owing to the shift in consumer preferences for comfort, security, and style
- Based on car class, the luxury car segment dominated the market in 2022 accounting for over 70.0% in terms of revenue.The rise in the sale of luxury vehicles in developed economies including the U.S., China, Japan, and Mexico is expected to boost the consumption of interior leathers in automotive. This is expected to drive the market growth in this segment
- In terms of material, the synthetic leather segment is anticipated to witness the fastest CAGR of 7.03% over the forecast period as a result of expanding production operations in emerging markets, superior product performance compared to leather alternatives, and consistent technological developments
- In May 2023, Lear Corporation announced plans to establish a Connection Systems unit in Morocco. The plant will produce injection molded parts and engineered polymers for automobile manufacturers, suppliers, and Lear’s E-Systems and seating business groups
