NEWARK, NEWARK, UNITED STATES OF AMERICA, April 28, 2022 /EINPresswire.com/ — The U.S. automotive and aircraft leather aftermarket is projected to reach a valuation of US$ 7.8 Bn in 2021. Rising demand for high-quality, lightweight, and durable leather for automotive and aircraft interiors is expected to push sales at 3.6% CAGR, with the market valuation reaching US$ 11.1 Bn in 2031.
Automotive and aircraft interior genuine leather is designed to provide comfort and to improve the visual appeal of the interiors. It also leaves the vehicle with a remarkable appearance and feel. It is used widely in midrange and premium passenger vehicles and in business class aircraft.
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The interior of a vehicle and aircraft that adds to the aesthetic appeal, is also a major factor that influences consumer buying decision. Longer operational life and extended warranties are some factors aiding the growth of the market.
Leather manufacturers are providing customization to meet the changing consumer requirements. This provides the end-user with a large selection of leather types to pick from, ranging from basic to advance.
As per FMI’s analysis, the automotive in end-use segment is anticipated to dominate the U.S. automotive and aircraft interior genuine leather aftermarket. Growth can be attributed to strong presence of key automotive and aviation players in the U.S., along with rapid adoption of new technologies to manufacture more efficient and durable leather. These trends will continue augmenting growth of the market over the assessment period.
By end-use, the automotive segment is expected to account for more than half of total market share in 2021.
In terms of applications, sales in the passenger cars segment are projected grow at a 3.6% CAGR through 2031.
“The introduction of latest technologies in automotive seating such as climate-controlled seats in electric and hybrid vehicles is expected to boost demand. In addition to this, growing preference for lightweight vehicles is expected to bode well for the market in the forthcoming years,” says an FMI analyst.
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Leading players operating in the U.S. automotive and aircraft interior genuine leather aftermarket include Lear Corporation., WOLLSDORF LEDER SCHMIDT & Co. Ges.m.b.H, Bader GmbH & Co. KG., Leather Resource Of America Inc., Katzkin Leather, Inc., Hydes Leather, Carroll Leather., Alea Leather Specialist Inc, Danfield Inc, Townsend Leather Company, Inc, Perrone Aerospace, Moore and Giles, Spectra Interior Products and others.
To gain a competitive edge in the market, players are focusing on research and development to launch new variants of genuine leather. Apart from this, players are investing in strategic collaborations, mergers and acquisitions to expand their global footprint. For instance:
In April 2018, IZIT® Leather announced to offer a five-year warranty against delamination for its commercial airline seating products, IZIT® XP and XP-A. Rated as the best overall performing synthetic leather by a major U.S. leather testing laboratory, IZIT® Leather offers the commercial air carrier the confidence that seat covers made from IZIT® will withstand the most challenging conditions of wear and abuse while retaining its freshly installed appearance – without delamination.
More Insights into the U.S. Automotive and Aircraft Interior Genuine Leather Aftermarket Report
In its latest report, FMI offers an unbiased analysis of the U.S. automotive and aircraft interior genuine leather aftermarket, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the U.S. market potential, its growth, and scope, the market is segmented on the basis of end use (automotive and aviation (aircraft)), application (automotive and aviation (aircraft)).
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This news story originally appeared at Automotive - Reality Syndicate Viewers on 30 April 2022