Dublin, Dec. 12, 2024 (GLOBE NEWSWIRE) — The “Automotive Genuine Leather – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Automotive Genuine Leather was estimated at US$10.3 Billion in 2023 and is projected to reach US$14.2 Billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030.
The growth in the automotive genuine leather market is driven by several key factors, including increasing consumer demand for luxury vehicles, rising disposable income, and the expanding automotive industry, particularly in emerging markets. One of the primary drivers is the growing consumer preference for high-quality, luxurious vehicle interiors. As car buyers, particularly in the luxury segment, seek more refined and premium materials for their vehicles, the demand for genuine leather interiors continues to rise. Consumers associate leather with comfort, exclusivity, and durability, making it a preferred choice for those willing to invest in a premium driving experience.
The rising disposable incomes in emerging markets, such as China and India, are also contributing to the growth of the automotive genuine leather market. As consumers in these regions gain more purchasing power, they are increasingly opting for premium and luxury vehicles that feature genuine leather interiors. This trend is driving demand for leather across a broader range of vehicle categories, including SUVs, sedans, and electric vehicles. The rapid growth of the middle class in these markets is expanding the consumer base for high-end vehicles, creating new opportunities for leather suppliers and automakers alike.
Additionally, the expansion of the electric vehicle (EV) market is influencing the demand for automotive genuine leather. As EV manufacturers seek to differentiate their models by offering eco-friendly luxury interiors, the use of sustainably sourced leather has become a key selling point. Consumers are increasingly seeking environmentally responsible products without sacrificing quality, and genuine leather, when produced using sustainable methods, meets this demand. The combination of luxury and sustainability is driving automakers to invest in high-quality leather interiors for their electric models, particularly in premium segments.
The growing emphasis on comfort and passenger experience in modern vehicles is another factor driving demand for genuine leather. As automotive interiors become more sophisticated, consumers are prioritizing comfort features such as leather seats with heating, cooling, and massage functions. Genuine leather’s natural breathability, softness, and adaptability to these features make it an ideal material for enhancing the overall passenger experience. This trend is particularly evident in the luxury and high-performance vehicle segments, where consumers expect a high level of refinement and customization in their interiors.
Finally, the trend toward personalization and customization in the automotive industry is boosting the demand for genuine leather. As consumers seek more personalized vehicles, automakers are offering a wider range of interior customization options, including bespoke leather finishes, unique stitching patterns, and contrasting color schemes. The ability to tailor the interior to individual preferences is becoming a major selling point in the luxury vehicle market, where customers expect exclusive and personalized designs. The versatility of genuine leather, combined with advancements in design and customization technology, makes it a key material in delivering these tailored experiences.
In conclusion, the automotive genuine leather market is poised for significant growth driven by rising consumer demand for luxury vehicles, increasing disposable incomes in emerging markets, and the expansion of the electric vehicle industry. Technological advancements in leather processing, sustainability, and customization will further enhance the market’s potential. As automakers continue to prioritize comfort, aesthetics, and eco-friendliness, the demand for high-quality, genuine leather interiors is expected to flourish in the coming years.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Passenger Cars End-Use segment, which is expected to reach US$10.1 Billion by 2030 with a CAGR of a 4.9%. The Commercial Vehicles End-Use segment is also set to grow at 4.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.7 Billion in 2023, and China, forecasted to grow at an impressive 7.1% CAGR to reach $3.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Automotive Genuine Leather Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Automotive Genuine Leather Market such as Bader GmbH, Boxmark, Carroll Leather, Conneaut Leather, Couro Azul and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 37 companies featured in this Global Automotive Genuine Leather market report include:
- Bader
- Boxmark
- Carroll Leather
- Conneaut Leather
- Couro Azul
- D.K Leather Corporation
- Dani
- Eagle Ottawa
- Elmo Sweden
- Exco Technologies
- GST AutoLeather
- JBS
- Kyowa Leather Cloth
- Mingxin Leather
- Scottish Leather Group
- Wollsdorf
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $10.3 Billion |
| Forecasted Market Value (USD) by 2030 | $14.2 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Automotive Genuine Leather – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Premium and Luxury Vehicles Drives Growth of Automotive Genuine Leather Market
- Surge in Adoption of Genuine Leather in Sports Cars and High-Performance Vehicles Expands Market Opportunities
- Technological Innovations in Leather for Lightweight and Eco-Friendly Solutions Drive Adoption
- Growing Demand for Genuine Leather in Electric and Hybrid Vehicles Expands Addressable Market
- Rising Focus on Leather for Noise Reduction and Acoustic Insulation in Vehicles Fuels Market Demand
- Technological Advancements in Genuine Leather for Stain-Resistant and Easy-to-Clean Surfaces Propel Market Growth
- Growing Focus on Genuine Leather for Custom and Limited Edition Vehicles Drives Adoption
- Rising Use of Genuine Leather in Automotive Steering Wheels and Dashboards Expands Market Opportunities
GLOBAL MARKET PERSPECTIVE
FOCUS ON SELECT PLAYERS
- Bader
- Boxmark
- Carroll Leather
- Conneaut Leather
- Couro Azul
- D.K Leather Corporation
- Dani
- Eagle Ottawa
- Elmo Sweden
- Exco Technologies
- GST AutoLeather
- JBS
- Kyowa Leather Cloth
- Mingxin Leather
- Scottish Leather Group
- Wollsdorf
For more information about this report visit https://www.researchandmarkets.com/r/eqzsp5
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- Automotive Genuine Leather Market
