Asia-Pacific Automotive Upholstery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.58 Billion |
| Market Size (2029) | USD 2.24 Billion |
| CAGR (2024 - 2029) | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Automotive Upholstery Market Analysis
The Asia-Pacific Automotive Upholstery Market size is estimated at USD 1.58 billion in 2024, and is expected to reach USD 2.24 billion by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).
Over the long term, demand for innovative automotive technology and vehicle interiors is likely to drive demand in automotive upholstery throughout the forecast period, with a growing emphasis on lightweight automotive materials and the development of various non-fabric replacements. Furthermore, the increased demand for customized interiors in vehicles has contributed. Furthermore, numerous automotive manufacturers are concentrating on manufacturing better products in order to provide better products to their clients. For instance,
In August 2022, In the Indian market, SML Isuzu introduced the "Hiroi School Bus" and "Hiroi Staff Bus." Hiroi School Bus is powered by a BS-VI 3,455 cc diesel engine that produces 85 kW of power at 2,600 rpm and 400 Nm of torque at 1,600 rpm. It has a fuel tank capacity of 90 liters. It has anti-bacterial laminated fire-retardant upholstery on its seats.
On the other hand, shifting raw material prices and rigorous government laws and regulations for lowering HAP (hazardous air pollutants) emissions are expected to limit market growth. Nonetheless, the emergence of self-driving cars creates new potential for Asia-Pacific automotive upholstery producers during the projection period.
The vehicle interior is becoming more elaborate, with contrasting surfaces and textures used to bring in the decorative and functional effect, which in turn drives the automakers to opt for new materials for the upholstery with enhanced environmental performance.
Due to intense competitive rivalry and margin pressure in the market, manufacturers are actively setting up bases in emerging markets, such as India and China, to take advantage of the low labor costs. This trend may change the dynamics of the industry in the long run, and upholstery and seat manufacturers may have to start setting up facilities in these emerging markets to stay competitive.
Asia-Pacific Automotive Upholstery Market Trends
Increase in Passenger Car Sales Propelling OEM Sales Channel Growth
It is anticipated that around 37.5 million passenger automobiles will be sold in the Asia-Pacific area, including the Middle East, by 2022, with China accounting for nearly 23.6 million of these sales. In comparison, it was anticipated that 34.57 million passenger automobiles were to be sold in the Asia-Pacific area in 2021.
Further, the industry is also witnessing a consumer preference for SUVs and MPVs that generally have more seats compared to hatchbacks and sedans. This soaring demand for SUVs resulted in a rise in vehicle production and the subsequent growth in the demand for related components, like upholstery and seats, in the region.
Another factor that is likely to fuel the demand for automotive upholstery in Asia-Pacific is the rising production of electric vehicles. As China is the leader in the electric vehicle market, the demand for upholstery is likely to witness significant growth over the forecast period in the country.
Top automotive seats and upholstery manufacturers have started investing in research and development of new and lighter-weight materials and also focusing on mergers and acquisitions. For instance,
In January 2023, Samvardhana Motherson International Ltd. acquired a 51% share in Saddles International Automotive and Aviation Interiors Private Limited (SIAAIPL) for an Enterprise Value of INR 2.07 billion (USD 24884153). SIAAIPL is a maker of luxury upholstery for applications such as passenger car seat coverings, gear knob covers, door panel wrapping, and so on. In India, the corporation has seven production locations.
China Leading the Automotive Upholstery Market
China, the world's largest automobile manufacturing country, produces 30% of total car production, making it the largest importer of automotive and upholstery leather. As Chinese customer demand shifts as a result of increased awareness about climate change and lowering carbon footprints, the need for China's independent automotive manufacturers to source sustainable leather has increased, and major automobile manufacturers are now focusing on globally manufactured sustainable leather.
There is an increasing demand for customization among car owners due to rising disposable incomes in the Asia-Pacific region. Automakers and OEMs in the region are now providing leather upholstery in their mid-range vehicles, thereby driving the development of the leather-type automotive upholstery market. The rising buyer inclination towards retrofitting automobiles with leather upholstery is also propelling the market growth through the aftermarket channel.
China has many industry participants, wherein most of the global market leaders have joint ventures with local manufacturers. However, China remained the leading market for passenger car sales in 2022, with over 23.56 million units sold. Hence, the increasing sales of passenger cars in the country are expected to drive the automotive upholstery market in the country.
Asia-Pacific Automotive Upholstery Industry Overview
The Asia-Pacific automotive upholstery market is moderately consolidated and majorly dominated by a few players like Adient PLC and Faurecia. The market is mainly driven by factors like advanced technologies, the use of lighter materials, more comfort, and the growing demand for electric and autonomous vehicles around the region. To provide a more luxurious experience to the people, major automotive upholstery manufacturers are making joint ventures with component manufacturers. For instance,
In October 2022, Pecca Group Bhd, located in Malaysia, announced the purchase of PT Gemilang Maju Kencana, an Indonesian upholstery leather wrapping and car seat cover manufacturer. GMK is also looking for commercial and marketing cooperation from MPI's founder in order to increase its footprint in Indonesia. Although Indonesia sells more automobiles than any other Southeast Asian market, the country is projected to be a major development engine for Pecca as it expands its overseas footprint in the upholstery seat covers in the automotive sector.
Asia-Pacific Automotive Upholstery Market Leaders
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Suminoe Textile Co. Ltd.
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Lear Corporation
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Toyota Boshoku Corporation
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Faurecia SE
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Adient PLC
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Automotive Upholstery Market News
- March 2023: Lexus introduced the LC 500h, a four-seat luxury coupe with high-end features. The controls in the center console are now oriented longitudinally, and the passenger side decoration panel has been harmonized with the instrument panel upholstery to emphasize the horizontal design idea.
- February 2023: Tata Motors has introduced the red, dark variants of the Safari and Harrier SUVs. Both SUVs feature red brake calipers as well as a slight red inlay on the front grille. Other than that, the Vehicle stays unchanged. In terms of the inside, both vehicles have 'Carnelian' read seat upholstery and grey trim on the dashboard.
- September 2022: The BMW Group intended to debut its first automobiles with entirely vegan interiors in 2023. This was largely made feasible by the development of novel materials with leather-like characteristics. For the first time, fully vegan interiors were to be offered for BMW and MINI cars beginning in 2023. The BMW Group was thereby meeting a growing demand for vegan and leather-free interiors, which is expected to rise further in the near future, particularly in the United States, China, and Europe.
Asia-Pacific Automotive UpholsteryMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increase in Passenger Car Sales Propelling Market Growth
4.2 Market Restraints
4.2.1 Fluctuation in Raw Material Prices
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Material Type
5.1.1 Leather
5.1.2 Vinyl
5.1.3 Other Material Types
5.2 By Sales Channel Type
5.2.1 OEM
5.2.2 Aftermarket
5.3 By Product Type
5.3.1 Dashboard
5.3.2 Seats
5.3.3 Roof Liners
5.3.4 Door Trim
5.4 By Country
5.4.1 China
5.4.2 Japan
5.4.3 India
5.4.4 South Korea
5.4.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Suminoe Textile Co. Ltd.
6.2.2 Lear Corporation
6.2.3 Toyota Boshoku Corporation
6.2.4 Faurecia SE
6.2.5 Adient PLC
6.2.6 Marvel group
6.2.7 Seiren Co. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Automotive Upholstery Industry Segmentation
Automotive upholstery is referred to as the work related to furniture in vehicles, especially covering interior parts of the vehicle, including seats, doors, carpets, and boot spaces with padding and fabric or leather covers. Moreover, different types of fabrics are used for designing the interiors of the vehicle.
The Asia-Pacific Automotive Upholstery Market is Segmented by Material Type (Leather, Vinyl, Other Material Types), Sales Channel (OEM, Aftermarket), Product (Dashboard, Seats, Roof Liners, Door Trim), and Country (China, India, Japan, South Korea, Rest of Asia-Pacific).
The report offers the market size and forecasts in value (USD) for all the above segments.
| By Material Type | |
| Leather | |
| Vinyl | |
| Other Material Types |
| By Sales Channel Type | |
| OEM | |
| Aftermarket |
| By Product Type | |
| Dashboard | |
| Seats | |
| Roof Liners | |
| Door Trim |
| By Country | |
| China | |
| Japan | |
| India | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Automotive UpholsteryMarket Research FAQs
How big is the Asia-Pacific Automotive Upholstery Market?
The Asia-Pacific Automotive Upholstery Market size is expected to reach USD 1.58 billion in 2024 and grow at a CAGR of greater than 7% to reach USD 2.24 billion by 2029.
What is the current Asia-Pacific Automotive Upholstery Market size?
In 2024, the Asia-Pacific Automotive Upholstery Market size is expected to reach USD 1.58 billion.
Who are the key players in Asia-Pacific Automotive Upholstery Market?
Suminoe Textile Co. Ltd., Lear Corporation, Toyota Boshoku Corporation, Faurecia SE and Adient PLC are the major companies operating in the Asia-Pacific Automotive Upholstery Market.
What years does this Asia-Pacific Automotive Upholstery Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Automotive Upholstery Market size was estimated at USD 1.47 billion. The report covers the Asia-Pacific Automotive Upholstery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Automotive Upholstery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Automotive UpholsteryIndustry Report
Statistics for the 2024 Asia-Pacific Automotive Upholstery market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Asia-Pacific Automotive Upholstery analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Automotive Upholstery Market Report Snapshots
