Market Size of Asia-Pacific Automotive Upholstery Industry
| 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 |
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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.
