The rise of the clamshell passenger cars segment is backed by rise in sales of passenger cars across the globe due to swelled affordability of consumers and increased spending on vehicle up gradation and services. Further, growing sales of luxury vehicles is also a major factor that is likely to fuel the growth of market in upcoming years.
Global automotive fabric market is expected to register a notable CAGR over the forecast period. Factors such as increasing sale of new vehicles and rising spending on vehicle up gradation are expected to foster the growth of global automotive fabric market in upcoming years. Increasing affluent middle class population in developing regions has raised the demand and sale of automotive vehicles. Further, this rising sale of automobiles across the globe is paving the way for the growth of the global automotive fabric market across all regions.
The aftermarket segment by sales channel type is likely to grow at remarkable pace during the forecast period. Growing automotive aftermarket in various countries and swelled spending by consumers on looks and design of vehicle is likely to drive the growth of this segment in future. After-sale services such as selling automotive parts and other services are generating huge revenues for the automotive component manufacturing companies. Additionally, manufacturers are continuously focusing on the aftermarket as it account for high margin business profits.
Increasing Sales and Production of New Vehicles
Rising production and sales of automotive vehicles across the globe are opening a gateway of opportunities for the growth of global automotive fabric market. Moreover, the production of commercial vehicles is increasing globally, for instance, commercial vehicle production in China reached 3,698,050 as compared to 3,423,899 in 2015 (International Organization of Motor Vehicle Manufacturers). This factor is envisioned to propel the growth of automotive fabric market in upcoming years.
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Changing Consumer Life Style
Changing consumer behavior and increasing demand for luxurious products are expected to increase the demand for automotive fabrics in future. Consumers are adopting automotive fabrics to give their vehicle more appealing look.
Although, presence of alternative of fabrics such as synthetic leather, natural leather, and PVC is a key challenge that is likely to inhibit the growth of the automotive fabric market in near future.
The report titled “Automotive Fabric Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive fabric market in terms of market segmentation by vehicle type, by application, by sales channel type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive fabric market which includes company profiling of DuPont, Baltex, Auto textile S.A., Lear Corporation, Adient plc, Sage Automotive Interiors, Suminoe Textile Co., Ltd., Heathcoat Fabrics Limited, Seiren Co., Ltd. and Acme Mills Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive fabric market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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