In terms of value, the automotive fabrics market is estimated to grow from USD 40.5 billion in 2024 to USD 51.4 billion by 2029, at a CAGR of 4.9%. Automotive fabric market have grown as the demand from applications such as airbags, upholstery, tires and floor coverings is mounted immensely due to large production of vehicles especially passenger cars worldwide.
The market is projected to grow because of the evolving lifestyle across globe. Rising safety measures in automobile application is one of the major drives for the market. With an increasing awareness of passenger safety, automotive manufacturers are incorporating advanced fabric materials that meet stringent safety standards.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=131700708
These fabrics are engineered to improve occupant protection by providing features such as fire resistance, impact absorption, and durability. Additionally, the growing demand for comfort and aesthetics in vehicle interiors further drives the automotive fabric market, as consumers seek high-quality materials that not only provide safety but also enhance the overall driving experience.
The key players profiled in the report include Autoliv Inc, (Sweden), Lear Corporation (US), Toray Industries (Tokyo), Hyosung Corporation (South Korea), Teijin Limited (Japan), Indorama Ventures Public Company (Thailand), Asahi Kasei Corporation (Japan), Toyobo Co., Ltd (Japan), Toyota Boshoku Corporation (Japan), SEIREN Co. Ltd. (Japan), and Suminoe Textile Co., Ltd. (Japan) and others. The automotive fabric market has witnessed insignificant growth in the past few years; government regulations and changing lifestyles drive the growth of this market. Market players are introducing new technologies, acquisitions, collaborations and features to acquire larger market shares.
Autoliv, Inc. is one of the global leaders in automotive safety products. They develop and manufacture lifesaving technologies like airbags, seatbelts, and pedestrian protection systems. The company is headquartered in Sweden and has a global with operations in 25 countries and 14 Tech Centers. Autoliv Inc, supply these crucial components to major automotive manufacturers around the world. Their overarching mission revolves around the continuous enhancement of safety standards through innovative approaches, with a steadfast commitment to saving lives.
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=131700708
Lear Corporation is one of the leading companies in automotive seating and electrical systems, playing a pivotal role in shaping the modern automotive industry. It has 261 manufacturing, engineering, and administrative locations in 39 countries. Lear Corporation specializes in crafting innovative seating solutions that prioritize comfort, safety, and sustainability. Lear Corporation’s commitment to excellence is evident in its relentless pursuit of technological advancements and its dedication to meeting the constantly changing consumer demand regarding the look and conform of automotive interior components. The company offers their products to all automotive segments. Its extensive presence allows it to serve major automakers globally and maintain a dominant manufacturing and engineering footprint across various regions.
Light commercial vehicles segment is projected to register the highest CAGR, in terms of value, of the global automotive fabrics market during the forecast period.
Light commercial vehicles segment is projected to grow at high CAGR, in term of both value and volume, during the forecast period. One significant factor driving the demand is the expanding e-commerce sector, which necessitates efficient transportation solutions for delivery services. Additionally, the rise of urbanization and the increasing demand for urban logistics further drives the demand for LCVs. These vehicles are a great option for companies who operate in metropolitan areas because of their cost-effectiveness, adaptability, and manoeuvrability. Furthermore, advancements in technology has led to the development of more fuel-efficient and environmentally friendly light commercial vehicles, appealing to both businesses and regulatory bodies.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=131700708
Safety-Belts is estimated to be the second-largest application of automotive fabrics market, in terms of value, during the forecast period.
The market for safety-belts is experiencing a significant demand, propelled by the increasing focus on passenger safety across multiple industries. The demand for safety-belts is increasing due to stringent regulations that require all automobiles to have safety restraints installed. Additionally, increased awareness among consumers regarding the importance of vehicle safety features further fuels this market growth. Also, the rising number of automobiles on the road is another major driving factor for automotive fabric in safety-belts application.
Asia Pacific is estimated to be the largest market for the automotive fabrics market, in terms of value, during the forecast period.
Asia Pacific region is experiencing a high demand for automotive products which is driven by various factors. One major driver is the region’s rapid economic growth, leading to rising disposable incomes and an increasing middle class population with greater purchasing power. As a result, there is an increased demand for personal transportation, particularly in highly populated urban areas where access to public transportation may be limited.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/automotive-fabric-market-131700708.html