Recently, a new research report, titled “Global Automotive Seat Covers Market Size study, by Material, By Fabric, By Vehicle Type, by End-user, and Regional Forecasts 2020-2027,” has been added to Report Ocean’s repository.
According to the report, with the constant rise in the demand of automobiles across the world, the need for automotive seat covers is witnessing a multi-fold increase. In 2019, the global automotive seat cover market was valued at approximately US$ 3.00 Bn. Proliferating at a healthy CAGR of 4.00%, the market is anticipated to report a decent rise during the period of 2020-2027. Leather, PVC fabric, vinyl fabric, faux vinyl, and nylon fabric are the main materials used to make automotive seat covers. The demand for PVC fabric is higher than other materials due to its durability and cost efficiency.
Economic Slowdown to Show Negatively on Market’s Growth
The market for automotive seat covers gained significantly from the rising demand for luxury and premium vehicles among the middle-class population. The increase in per capita income supported the automotive market considerably, which eventually reflected on this market. However, seat covers are not mandatory by any regulatory body governing the automotive industry around the world, and usage is directly dependent on vehicle-user preference, which is hampering the growth of this market.
Nonetheless, consistent R&D in the field of automotive textile material, resulting in wide-ranging product availability, is likely to support the worldwide automotive seat cover market in the long run.
Asia Pacific Leads Global Market on Back of Increased Automobile Production
Asia Pacific, North America, Europe, Latin America and the Rest of the World are the main regional markets for automotive seat covers. With an increase in production of vehicles locally and a rise in the export of vehicles, Asia Pacific has established itself as the market leader. Countries, such as India and China, are among the major global manufacturers of automobiles and this has resulted in them being prominent revenue contributors to their respective economies. Although the COVID pandemic has hit the automotive sector in this region but it is expected to gain momentum soon and so will the Asia Pacific automotive seat covers market.
Impact of COVID 19 on Global Automotive Seat Covers Market
With the COVID-19 pandemic turning catalyst to the economic slowdown, the growth trajectory of the global automotive seat covers market has taken a zigzag route for now. While the first quarter of 2020 showed immense potential, the market witnessed a significant decline in the second and third quarter. The production of automobiles stopped across the world and, now, when the market is opening up again, consumers are not willing to spend on luxury items. Also, restrictions on movement resulted in disrupted supply chain of automotive components and delayed delivery, which is likely to hinder the market’s growth to some extent in 2020.
Johnson Controls Inc., Exco Technologies Limited, Coverking, Faurecia, and Katzkin Leather Inc. are the key players in the global automotive markets. These companies are focusing mainly on new product launches and mergers and acquisitions to sustain themselves amidst fierce competition. Saddles India Pvt. Ltd., Lear Corp., Suminoe Textile Co. Ltd., Zhejiang Tianmei Auto Seat Cover Co. Ltd., and Kyowa Leather Cloth Co. are some of the other significant participants in the market.
- Based on the vehicle type, the passenger vehicle segment is likely to lead the market.
- Among fabrics, the demand for tricot fabric will remain high.
- Aftermarkets are expected to emerge as the main end users of these covers in the near future.
- The Asia Pacific market to regain the momentum over the next few years.
The Global Automotive Seat Covers Market is segmented into:
- PVC Fabric
- Vinyl Fabric
- Faux Vinyl
- Nylon Fabric
- Flat Woven
- Circular Knit
- Double Needle Bar Raschel
- Woven Velour
By Vehicle Type
- Commercial Vehicle
- Passenger vehicle
By End user
- North America
- Asia Pacific
- Latin America
- Rest of World
Company Mentioned in the Report:
- Johnson Controls Inc.
- Exco Technologies Limited
- Katzkin Leather Inc.
- Saddles India Pvt. Ltd.
- Lear Corporation
- Suminoe Textile Co., Ltd.
- Zhejiang Tianmei Auto Seat Cover Co., Ltd.
- Kyowa Leather Cloth Co.
Get Detailed Sample Pages with COVID-19 Impact Analysis at https://www.reportocean.com/industry-verticals/sample-request?report_id=bw1525
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