The United States Automotive and Aircraft Interior Genuine Leather Aftermarket Size is projected to increase at a healthy CAGR of 3.6% over the forecast period from 2021 to 2031. The global market reached a valuation of nearly US$ 7.8 Billion in 2021. The growth of the market is attributed to the rising demand for lightweight vehicles coupled with optimized efficiency. With the increase in comfort level for drivers and passengers, the U.S. automotive and aircraft interior genuine leather aftermarket is expected to surge globally.
Key Takeaways
- The U.S. automotive & aircraft interior leather industry is gradually transitioning toward lightweight leather products for the automotive and aircraft. The growth is associated with the growing demand for lightweight vehicles and aircraft, players are aiming to capitalize on this trend.
- Lightweight vehicles and aircraft are known for their fuel efficiency and eminent contribution towards reducing emissions. Furthermore, research and development on the fuel economy of automotive vehicles showcase a direct correlation between fuel efficiency and vehicle weight.
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- The direct correlation between fuel efficiency and vehicle weight is responsible for compelling manufacturers to reduce the weight of automotive vehicles and opt for lightweight leather products in automotive vehicle body panels.
- Airline operators are thriving to provide a more comfortable flying experience to their customers. One of the primary solutions is to enhance the aircraft upholstery with a material that is premium in quality with no quick wear, sag and stretch. Attributing to its lightweight properties, it helps airlines to reduce carbon emissions and fuel costs.
- Over recent years, the global economy has been impacted to a significant extent. A massive decline in the demand from end-use industries was witnessed which further plummeted due to supply chain disruptions.
- The previous shutdown of end-use industries has a significant impact on the global sales of leather in 2020. Attributing to the decrease in sales of leather hides and decreased production rate significantly affected the growth of the market.
The automotive manufacturers are utilizing genuine leathers within the interior components comprising steering wheels, door panels, and seats. Leather employment has increased due to an increasing preference for aesthetic-looking interiors. Furthermore, propelling replacement and aftermarket installation of interior leather in vehicles and various aircraft are predicted to bolster the market growth.
Genuine leather is a processed material extracted from animal hides that are utilized in the manufacturing of automotive and other aircraft interiors. Among full-grain leather, bonded leather, and top-grain leather, genuine leather is considered highly durable. It is also used for antique looks. Due to its porous structure, it provides enhanced comfort and protection from sweating. Some of the major leading players within the interior leather aftermarket are heavily investing in numerous research and development (R&D) activities to provide a wide range of leather in a variety of colors and materials for different applications.
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Competitive Landscape
Prominent players operating in the U.S. automotive and aircraft interior genuine leather aftermarket are heavily investing in mergers, acquisitions, and various collaborations in order to strengthen their footprints in the global landscape. Furthermore, several other key players are also focusing on improving the efficiency of automotive and aircraft interiors through research and development activities.
More Insights into the U.S. Automotive and Aircraft Interior Genuine Leather Aftermarket
With the emergence of the latest technologies within the automobile and aviation industry, various OEMs are aligning the production of leather attributing with the prevailing trends in the market to sustain their positions.
The introduction of climate-controlled automotive seats within electric and hybrid vehicles is anticipated to bolster the demand for genuine interior leather in the forthcoming years. Furthermore, shifting consumer preferences towards vehicle aesthetics, style, comfort, and safety will continue propelling sales over the forecast period.
The passenger car segment was valued at approximately US$ 3,072.6 Million in 2021 and is likely to reach a valuation of nearly US$ 4,366.8 Million by 2031, expanding at a 3.6% CAGR during the assessment period.
The U.S. passenger car segment is likely to register an opulent CAGR of 3.1% on the basis of volume between 2021 to 2031. The country is known for its prominence of leather hides including genuine leather. Sales in this segment are growing substantially owing to growing travel requirements and increasing demand for lightweight vehicles, thereby augmenting the growth of the market.
U.S. Automotive and Aircraft Interior Genuine Leather Aftermarket by Category
By End-Use:
- Automotive
- Passenger Cars
- Compact
- Subcompact
- Mid-Size
- Sedan
- Luxury
- Van
- LCV
- HCV
- Passenger Cars
- Aviation (Aircraft)
- Narrow Body Aircrafts
- Wide Body Aircrafts
- Regional Jets
- Business Jets
- Helicopter
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By Application:
- Automotive
- Upholstery
- Dashboard
- Seat belts
- Airbags
- Floor & trunk carpets
- Headliners
- Others
- Aviation (Aircrafts)
- Bottom Covers
- Backrests
- Seat Rear Pockets
- Headrests
- Armrests
By Country:
- The U.S.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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