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Automotive Interior Leather Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71762
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The automotive interior leather market share is expected to increase by USD 10.96 billion from 2021 to 2026, and the market’s growth momentum will decelerate at a CAGR of 6.81%.

This automotive interior leather market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive interior leather market segmentation by vehicle type (passenger cars, LCV, and HCV) and geography (Europe, APAC, North America, South America, and MEA). The automotive interior leather market report also offers information on several market vendors, including Adient Plc, Alfatex Italia Srl, Ctl Leather Inc., Faurecia SE, Gruppo Mastrotto Spa, Katzkin Interiors Inc., Lear Corp., Sage Automotive Interiors Inc., Toyota Boshoku Corp., and Wollsdorf Leder Schmidt and Co Ges.M.B.H. among others.

What will the Automotive Interior Leather Market Size be During the Forecast Period?

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Automotive Interior Leather Market: Key Drivers and Challenges

The rise in improved passenger car sales due to financing flexibility is notably driving the automotive interior leather market growth, although factors such as increasing cost pressure from the demand side may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive interior leather market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Interior Leather Market Driver

Car loans are an integral component of the automotive industry and form the biggest driving factor for car sales. This subsequently leads to an increase in automotive glove box sales. Auto financing options account for a significant percentage of all new car sales. New car sales have a direct relationship with car financing options. With the improving credit environment, finance companies have more access to funds that could be made available to consumers. This has raised the competition among car financing and leasing companies, pushing them to introduce various incentive measures such as zero percent interest financing and flexible payment options. OEMs such as Fiat and Renault have been offering discounts on new car sales for the past ten years. This strategy worked well for the automakers. The automotive industry found car loans as the biggest driving factor for the expansion of the compact car segments globally. With the increase in passenger car sales, the automotive interior leather market is expected to witness steady growth during the forecast period.

Key Automotive Interior Leather Market Challenge

Suppliers in the automotive materials market are under high pressure to maintain costs and deliver high-quality materials to meet the stringent quality control and tests defined by the OEMs and tire-1 suppliers. They must restrict the production cost to satisfy the demand side requirements and deliver high-quality products as they are liable for failure. Interior leather manufacturers that cater to automotive needs have started exploring various ways to restrict production costs while maintaining quality standards. One such option was to outsource manufacturing to low-cost countries such as China, South Korea, India, and Taiwan. However, as the cost of labor is gradually increasing in these countries, manufacturers will face challenges in maintaining low production costs during the forecast period.

This automotive interior leather market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Automotive Interior Leather Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Adient Plc
  • Alfatex Italia Srl
  • Ctl Leather Inc.
  • Faurecia SE
  • Gruppo Mastrotto Spa
  • Katzkin Interiors Inc.
  • Lear Corp.
  • Sage Automotive Interiors Inc.
  • Toyota Boshoku Corp.
  • Wollsdorf Leder Schmidt and Co Ges.M.B.H.

 

This statistical study of the automotive interior leather market encompasses successful business strategies deployed by the key vendors. The automotive interior leather market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive interior leather market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Automotive Interior Leather Market?

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37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive interior leather in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Vehicle Type Segments in the Automotive Interior Leather Market?

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The automotive interior leather market share growth by the passenger cars segment will be significant during the forecast period. The passenger cars segment of the automotive interior leather market is anticipated to be driven primarily by the shifting preference of consumers toward better safety and comfort in automobiles. Passenger car manufacturers have been focusing on enhancing in-vehicle comfort, and interiors play a vital role in vehicle comfort. The demand for synthetic leather is growing in passenger car interiors, owing to low production cost and low environmental impact, unlike natural leather products. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive interior leather market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Interior Leather Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 6.81%

Market growth 2022-2026

$ 10.96 billion

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

APAC at 37%

Key consumer countries

Germany, China, US, France, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Adient Plc, Alfatex Italia Srl, Ctl Leather Inc., Faurecia SE, Gruppo Mastrotto Spa, Katzkin Interiors Inc., Lear Corp., Sage Automotive Interiors Inc., Toyota Boshoku Corp., and Wollsdorf Leder Schmidt and Co Ges.M.B.H.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Automotive Interior Leather Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive interior leather market growth during the next five years
  • Precise estimation of the automotive interior leather market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive interior leather industry across Europe, APAC, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive interior leather market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Vehicle type

  • Market segments
  • Comparison by Vehicle type
  • Passenger cars - Market size and forecast 2021-2026
  • LCV - Market size and forecast 2021-2026
  • HCV - Market size and forecast 2021-2026
  • Market opportunity by Vehicle type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2021-2026
  • APAC - Market size and forecast 2021-2026
  • North America - Market size and forecast 2021-2026
  • South America - Market size and forecast 2021-2026
  • MEA - Market size and forecast 2021-2026
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Adient Plc
  • Alfatex Italia Srl
  • Ctl Leather Inc.
  • Faurecia SE
  • Gruppo Mastrotto Spa
  • Katzkin Interiors Inc.
  • Lear Corp.
  • Sage Automotive Interiors Inc.
  • Toyota Boshoku Corp.
  • Wollsdorf Leder Schmidt and Co Ges.M.B.H.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The automotive interior leather market growth will increase by $10.96 billion during 2021-2026.
The automotive interior leather market is expected to grow at a CAGR of 6.81% during 2021-2026.
Technavio has segmented the automotive interior leather market by other1 (Passenger cars, LCV, and HCV) and geographic (Europe, APAC, North America, South America, and MEA).
Adient Plc, Alfatex Italia Srl, Ctl Leather Inc., Faurecia SE, Gruppo Mastrotto Spa, Katzkin Interiors Inc., Lear Corp., Sage Automotive Interiors Inc., Toyota Boshoku Corp., Wollsdorf Leder Schmidt and Co Ges.M.B.H. are a few of the key vendors in the automotive interior leather market.
APAC will register the highest growth rate of 36.50% among the other regions. Therefore, the automotive interior leather market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the automotive interior leather market growth are:
  • Rise in improved passenger car sales due to financing flexibility
The automotive interior leather market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
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