Market Trends of Europe Automotive Upholstery Industry
This section covers the major market trends shaping the Europe Automotive Upholstery Market according to our research experts:
Leather is Expected to Grow at a Fast Pace Owing to the Growing Demand for Luxury Interiors
The vehicle's interior may not be a deal-breaker or winning feature for the customer.; however, they are the customer's first and last contact with the car. The primary function for passengers while purchasing Automotive Upholstery for the car, truck, or an SUV, after with the cost and quality of the material, is the contrasting surfaces and textures used to bring in a decorative effect and functionality. As a result, automotive makers are considering new materials for upholstery, with enhanced environmental performance.
For those interested in adding a luxury element in their cars, leather has remained in demand amongst the wealthy. Moreover, it is known for giving a premium look and feel. As a result, leather upholstery offers certain utilitarian benefits over ordinary materials used in car interiors. This forces automakers and OEMs to provide leather upholstery in their mid-range and premium car offerings, thereby driving the leather segment of the automotive.
Fabric coatings, such as Scotchgard, also observed significant growth, as customers focus on preserving the upscale interiors that they purchase. In general, the peripheral industries of the automotive upholstery industry are also experiencing steady growth. As upholstery continues to evolve and capture the attention of automotive buyers, the materials and tools used to maintain that upholstery are naturally experiencing increasing demand.
Germany poised to lead the luxury automotive interiors market
Europe is the hub for the luxury car market in the global scenario. Customer's focus on the latest features of car interiors and other upholstery has now become a deciding factor driving the purchase of any car. In 2019, German premium brands and luxury carmakers had strong sales and gained market share in several major market segments. Mercedes-Benz and BMW both had their ninth consecutive record year in 2019. Also, Porsche gained the most in 2019 with record deliveries 10% higher than a year ago. German luxury car brands mostly outperformed the markets in major countries with all gaining market share in China, and the USA were the broader new car markets were weaker in 2019.
Moreover, with the growing trend of electric vehicle sales for durable. As of 2018, Germany has over 200,000 plug-inn electric cars. It has decided to join the aim of achieving zero emissions by committing to the domestic production and sales of only EVs by 2050.
With a growing demand for luxury and electric vehicles, it is expected that the German automotive upholstery market will only rise in the coming future.
