Automotive Seat Cover Market
Automotive Seat Cover Market (Material: Leather, Nylon Fabric, Faux Vinyl, PVC Fabric, Vinyl Fabric, and Others; Vehicle Type: Passenger Vehicle and Commercial Vehicle; Fabric Type: Flat Woven, Woven Velour, Tricot, Double Needle Bar Raschel, Circular Knit, and Others; and Sales Channel: OEM/OES and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Growing Demand for Premium Vehicles to Drive Global Market
The automotive sector has witnessed noteworthy changes over the course of the last couple of decades, primarily driven by the evolving regulatory landscape, changing consumer preferences, and advancements in technology. While the automotive sector continues to replace older technologies with new ones, another key area wherein considerable changes are taking place within the automotive sector is the vehicle interior. In the current scenario, while the performance and fuel-efficiency of automobiles continue to remain the top-selling points, automotive interiors have garnered considerable attention in recent years– a trend that is expected to gain further ground in the upcoming years due to which, the sales of automotive seat covers are projected to move in the upward direction at a steady pace.
Innovations and advancements in the automotive seat cover market are expected to shift gears over the next few years due to rapidly changing consumer preferences. Consumers are increasingly opting for automotive seat covers made from biodegradable and environmentally sustainable materials. Major and upcoming OEMs and automotive manufacturers are increasingly focusing on automotive interiors due to which, innovations and new developments across the automotive seat cover market are on the rise.
At the back of these factors, along with consistent boost to the automotive sector particularly in developing regions, the global automotive seat cover market is expected to surpass US$ 4.6 Bn mark by the end of 2030.
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Entry of New Materials and Focus on Improving Automotive Interiors to Aid Market Growth
Over the past decade, consumers continue to demand exceptional automotive interiors made from sustainable materials and technologies. With the entry of the autonomous vehicles, engineers and automotive designers are increasingly innovating and rolling out automotive seat covers with exceptional comfort and ergonomics to gain a competitive edge. The automotive seat cover market is projected to witness considerable developments in the upcoming decade with the entry of a range of lightweight and sustainable materials. Stakeholders in the automotive seat cover market are of the opinion that the material of seat covers is expected to play a key role, while influencing the purchasing decisions of customers in the future. While technological advancements continue to take place at a blazing pace across the automotive sector, in recent times, seat cover materials have garnered considerable popularity and under review. The growing demand for premium automobiles is a major factor that is anticipated to drive innovations in the automotive seat cover market.
At present, removable trim covers have emerged as a new feature that is expected to gain considerable popularity around the world due to which, the global automotive seat cover market is projected to grow at a steady pace. Polyurethane has emerged as one of the most popular automotive seat cover materials. In addition, customized automotive seat covers are currently in-vogue and the trend is expected to continue during the forecast period. New structural and lightweight materials are also projected to gain considerable traction in the upcoming years due to which, the automotive seat cover market is expected to witness steady growth during the assessment period.
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Market Players Focus on Product Launches and Strategic Alliances to Gain Advantage
Due to the increasing competition across the automotive sector, market players are seeking organic as well as inorganic growth strategies to gain an edge. In addition, product development cycles and procedures are likely to evolve in line with consumer preferences and technologies. Several market players are expected to launch new products to gain a competitive edge. For instance, in July 2020, Hero MotoCorp announced the launch of new seat covers for the XPulse 200 BS6. While the demand for automotive seat covers is projected to remain considerably higher for four-wheelers, the demand from the two-wheeler category is projected to gain momentum. Several automotive manufacturers are increasingly focusing on launching new accessories. For instance, leading Indian car manufacturer Maruti Suzuki launched a range of accessories, including seat covers, LEDs, skid plates, and arch claddings to enable the drivers to personalize interiors.
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Demand for Automotive Seat Cover to Decline amid COVID-19 Pandemic
The impact of the novel COVID-19 pandemic on the global economy is huge and projected to affect the growth of several core industries, including automotive. While automotive manufacturers were increasingly focusing on running the assembly lines in full capacity in the first quarter of 2020, second and third quarters have seen a major decline in the production of new automotive vehicles. Measures were taken by governments to contain the transmission of the virus, zero consumer footfalls in showrooms and disruption in the supply chain of automotive components and vehicles are some of the key factors expected to hinder the growth of the global automotive seat cover market in 2020. The market is projected to show signs of recovery toward the last quarter of 2020.
The global automotive seat cover market is expected to grow at a moderate CAGR of ~4% during the forecast period. The market growth can be primarily driven by the booming automotive sector in developing regions, growing demand for automotive seat covers made from environment-friendly and sustainable materials, growing demand for premium vehicles, and increasing focus on automotive interiors. Market players should focus on improving their market position by launching new products and forming strategic partnerships to gain a competitive edge in the current market landscape. While the market growth will remain sluggish in 2020 due to the COVID-19 pandemic, the demand is expected to grow gradually toward the last quarter of 2020.
Automotive Seat Cover Market – Scope of the Report
Transparency Market Research’s recent report on the automotive seat cover market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the automotive seat cover market analyzes the scenario for the period of 2019 to 2030, wherein 2019 is the base year and 2018 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the automotive seat cover market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the automotive seat cover market gives readers an individual understanding of the market.
This study also discusses the underlying trends and impact of various factors that are driving the automotive seat cover market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the automotive seat cover market, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.
Key Questions Answered in This Report on Automotive Seat Cover Market
- How much value will the automotive seat cover market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2030?
- What are the impact factors and their effects on the market for automotive seat covers?
- What regions currently contribute the maximum share to the overall automotive seat cover market?
- What are the indicators expected to drive the automotive seat cover market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the automotive seat cover market to expand their geographic presence?
- What are the major advancements witnessed in the automotive seat cover market?
- How regulatory norms affected the market for automotive seat cover market?
This report answers these questions and more about the automotive seat cover market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Automotive Seat Cover Market – Research Methodology
This TMR report on the automotive seat cover market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive seat cover market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive seat cover market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the automotive seat cover market, with both a bottom-up and top-down approach.
This detailed assessment of the automotive seat cover market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive seat cover market is estimated to expand are based on carefully vetted primary and secondary sources.
Automotive Seat Cover Market – Segmentation
This report on the automotive seat cover market provides information on the basis of material, vehicle type, fabric type, sales channel, and region.