Automotive Textiles Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
20 Nov, 2023
The global automotive textiles market is expected to grow from $27.40 billion in 2022 to $28.87 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive textiles market is expected to reach $34.21 billion in 2027 at a CAGR of 4.3%.
Global Automotive Textiles Market Key Driver
The mounting adoption of industrial robots is anticipated to fuel the expansion of the Industry 4.0 market in the future. Industrial robots encompass mechanical devices designed to carry out production-related tasks automatically within industrial settings. Leveraging Industry 4.0, industrial robots amalgamate cutting-edge technologies such as automation, the Internet of Things (IoT), and artificial intelligence to facilitate intelligent, autonomous, and interconnected robotic systems, thereby enhancing productivity, adaptability, and operational efficiency in the production domain.
Get a sample of the global automotive textiles market reportGlobal Automotive Textiles Market Segments
The global automotive textiles market is segmented:
1) By Textile Type: Leather, Polyester, Nylon, Vinyl, Polyvinyl Chloride (PVC), Other Types
2) By Product Type: Woven, Non-Woven, Composites
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Geography: The regions covered in the automotive textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global automotive textiles market.
Major Automotive Textiles Industry Players
Automotive Textiles Market Overview
Automotive textiles refer to the specialized fabrics and textile products used in the interior and exterior of automobiles. These textiles serve various purposes in the automotive industry, including enhancing comfort, safety, aesthetics, and functionality.
Automotive Textiles Global Market Report 2023 provides data on the global automotive textiles market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive textiles market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.