Report Code: A12794 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Bovine Leather Market
Request Now !Bovine leather comes from animal hide and is not mixed with any artificial elements. In its natural and pure form, bovine leather can safely be considered real. Animal skin goes through a long tanning process before it can be used. It is a widely manufactured leather that is obtained from buffalo, cow, and calf-skin. Bovine leather is well-known for its texture, appearance, comfort, and durability. Moreover, leather produced from cowhide offers good resistance against water and dirt, is easy to maintain, and relatively inexpensive, owing to easy availability. Key players operating in the bovine leather market are estimated to witness rising demand for bovine leather goods during the forecast period, owing to the launch of new bovine leather that are expected to prompt customers to spend more. Manufacturers are focused on their main strategy of acquisitions, expansions, and collaborations with automotive companies to gain significant share of the market. Additionally, manufacturers emphasize on driving consumer engagement by investing in product, marketing, and in-store and online experience. The market in Asia Pacific is projected to expand at a significant growth rate during the forecast period, as the region is home to a large youth population especially in India and China. Moreover, the leather industry contributes significantly to the economy of India.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2030 |
Base year considered | 2020 |
Forecast period | 2021–2030 |
Forecast units | Value (USD) |
Segments covered | Vehicle Type, Application, Vehicle Energy Source, and Region |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa) |
Companies covered | Circa of America, LLC, Rancourt & Co. Shoecrafters, Russell Moccasin Co., Caleres, Inc. (Allen Edmonds Corporation), Hermes International, Jack Georges, American Saddlery Inc., Garrett Leather Corp, Tanner Goods Inc., and The Frye Company |
COVID-19 Impact analysis
The global automobile sector has faced the severe challenges during the COVID-19 pandemic as the production houses got closed, inventories started overflowing, and the demand completely subsided. Services across the globe have halted due to the ban on transportation. Airlines and ships stopped operating in many countries, which made cargo transportation impossible. This is estimated to result in huge losses to automotive bovine leather market. Automobiles makers, consumer electronics, and pharmaceuticals in various countries rely on China and other developed countries for the supply of several raw materials. However, due to the pandemic, this got severely affected. The supply chain has been broken for a very long while now due to lockdown and the demand has completely subsided, which are estimated to take a very long time to revive.
Top Impacting Factors
The automotive bovine leather market trends are as follows:
Increase in opposition for the use of leather
Leather production impacts the environment in a negative manner as chemicals and toxins used on leather after manufacturing release harmful fumes that pollute water resources and increase air pollution. Furthermore, the use of different chemicals during leather processing produces wastes in solid, liquid, and gaseous forms. In addition, solid waste produced in the leather industry includes animal skin trims, animal hairs, flesh wastes, buffing dust, and keratin wastes. Increase in preference for natural material-based fabrics as compared to leather for use in vehicles restrains the growth of the market. Therefore, brands, such as Zara, Marks & Spencer, Prada, Hugo Boss, and Armani, have been banned in Spain and the country focuses on natural leather production. In addition, SLG manufacturer brands have focused on developing new eco-friendly systems for manufacturing leather. Thus, the opposition for the use of leather is expected to hamper automotive bovine leather market.
Rise in sales of luxurious vehicles in developing countries
Majority of luxurious vehicles are generally equipped with leather seats, which provide premium quality seats and look to the vehicle. Therefore, there is growth of automotive bovine leather in developing regions. For example, China has witnessed significant rise in the sales of luxury vehicles over the past few years. On an average, almost one-third of luxury vehicles are sold in China, in terms of value. Furthermore, India is also one of the world’s largest passenger car market in terms of volume, with luxury cars just accounting for around 1% of vehicles sold in 2017. However, vehicle manufacturers, both luxury and non-luxury segments, foresee a high potential for sales growth in the country and are focusing to invest further in this fast-growing market. The growth rate of luxury vehicles was in the range of 14%-20%. Therefore, growth in sales of luxury vehicles in developing countries such as China and India is expected to increase the demand for premium quality automotive bovine leather in the same region. Thus, such steps from the developing regions and latest innovation in bovine leather specially for the premium vehicles are creating a demand for the automotive bovine leather market.
Key segments covered:
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Key benefits of the report:
Questions answered in the automotive bovine leather market research report:
Automotive Bovine Leather Market Report Highlights
Aspects | Details |
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By Vehicle Type |
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By Application |
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By Vehicle Energy Source |
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By Region |
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Key Market Players | Garrett Leather Corp, Russell Moccasin Co., The Frye Company, Rancourt & Co. Shoecrafters, Caleres Inc. (Allen Edmonds Corporation), Tanner Goods Inc., Jack Georges, American Saddlery Inc., Circa of America LLC, Hermes International |
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