North America Automotive Fabric Market

The North America automotive fabric market was valued at US$ 7,890.92 million in 2022 and is expected to reach US$ 10,937.09 million by 2030; it is estimated to grow at a CAGR of 4.2% from 2022 to 2030.

Increasing Vehicle Production and Sales Fuels North America Automotive Fabric Market

The advancement in automotive manufacturing capabilities and rising demand for electric vehicles are a few factors driving the global automotive industry. According to a report published by the European Automobile Manufacturers' Association (ACEA), global motor vehicle production grew by 1.3% from 2020 to 2021, i.e., 79.1 million motor vehicles, including 61.6 million passenger cars. The National Automobile Dealers Association states that the automobile industry in North America currently generates over US$ 500 billion in sales annually. North America continues to be a significant producer, turning out more than 17 million cars a year. In contrast, Canada has a long history in the automobile sector and is home to several significant automakers and suppliers. By increasing its manufacturing capacity, bringing in new investments, and making R&D investments, the nation has been attempting to fortify its position in the sector in recent years. Further, Both Mexico and Canada are already major participants in the North American automotive market, a trend that is expected to continue in the years to come. According to statistics by OICA, the US, Canada, and Mexico produced 10,060,339, 1,228,735, and 3,509,072 vehicles in 2022, which was 10% up from 2021.

Thus, the growing automotive industry propels the production and sales of vehicles, which boosts the demand for automotive materials, thereby fueling the automotive fabric market growth.

North America Automotive Fabric Market Overview

Automotive fabric is widely used for seat covers, providing comfort and enhancing the aesthetics of the car interior. Many vehicles feature fabric-based carpets, improving interior aesthetics as well as providing insulation. According to the data published by the International Organization of Motor Vehicle Manufacturers in 2022, North America registered a production of 14.79 million vehicles. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025. According to the International Trade Administration data released in 2022, the automotive industry of Mexico is one of the major sectors, accounting for 3.5% of the country's gross domestic production and 20% of the manufacturing gross domestic production. The report also reveals that Mexico is the seventh largest global passenger vehicle producer, manufacturing ~3 million vehicles annually. Moreover, 90% of vehicles produced in the country are exported, of which nearly 76% are exported to the US. North America has well-established automotive manufacturers such as Audi AG, Bayerische Motoren Werke AG, Stellantis NV, Ford Motor Company, Honda Motor Co Ltd, Hyundai Motor Company, Mercedes Benz, and Volkswagen Group. Therefore, prevalence of automotive industry is projected to drive the demand for automotive fabric in North America.

North America Automotive Fabric Market Revenue and Forecast to 2030 (US$ Million)

North America Automotive Fabric Market Segmentation

The North America automotive fabric market is segmented based on component, material, and country. Based on component, the North America automotive fabric market is segmented into carpet, headliner, hood liner, insulation, seat covering material, and others. The carpet segment held the largest market share in 2022.

In terms of material, the North America automotive fabric market is segmented into textiles, artificial leather, genuine leather, and artificial suede. The textiles segment held the largest market share in 2022.

Based on country, the North America automotive fabric market is segmented into the US, Canada, and Mexico. The US dominated the North America automotive fabric market share in 2022.

Lear Corp, Bader GmbH & Co KG, BOXMARK Leather GmbH & Co KG, AUNDE Group SE, Grupo Empresarial Copo SA, Classic Soft Trim Inc, Shawmut Corp, Apex Mills Corp, and Seiren Co Ltd are some of the leading companies operating in the North America automotive fabric market.