Automotive Seats Market to grow by USD 15.37 billion from 2022 to 2027; market is fragmented due to the presence of prominent companies like Adient Plc, Bharat Seats Ltd. and Chongqing Huixinyi Technology Co. Ltd., and many more - Technavio
NEW YORK, Jan. 12, 2024 /PRNewswire/ -- The automotive seats market is estimated to grow by USD 15.37 billion from 2022 to 2027, growing at a CAGR of 4.33%. The automotive seat market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive seats market are Adient Plc, Bharat Seats Ltd., Chongqing Huixinyi Technology Co. Ltd., COBRA SEATS, FP Seating Systems Pvt. Ltd., Gentherm Inc., Glide Engineering INC., Lazzerini Srl, Lear Corp., Magna International Inc., NHK Spring Co. Ltd., RCO Engineering Inc., RECARO Automotive GmbH, SAIC Motor Corp. Ltd., SAL Automotives Ltd., Stellantis NV, TACHI S Co. Ltd., Toyota Motor Corp., TS TECH Co. Ltd., and Victora Auto Pvt. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
Company Offering:
-- Adient Plc - The company offers complete seats and commercial vehicle
seats for automobiles with detailed trim and certified foam.
-- Bharat Seats Ltd. - The company offers automotive seats such as railway
seats, four-wheeler seats, and two-wheeler seats.
-- COBRA SEATS - The company offers automotive seats called Luxury Stadia
Seating for sports cars.
-- For details on companies and their offerings - Buy the report!
By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market. The region will contribute 64% to the growth of the global automotive seat market during the forecast period. Improved economic conditions in APAC, especially in China and India, drive the automotive industry's expansion. A growing middle class with rising incomes fuels passenger and commercial vehicle sales. E-commerce growth and robust mining sectors boost demand for commercial vehicles. Heavy-duty trucks are crucial for transportation in the region. Manufacturers are setting up facilities, focusing on automotive components and seats. Post-COVID-19, vaccination drives revived car manufacturing, supporting EV production and charging infrastructure development, likely boosting car seat demand.
Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
-- Impactful driver- The remarkable growth of the automotive seats market
is primarily driven by the rising prevalence of SUVs. Adient, Lear
Corporation, Faurecia, Magna International, Toyota Boshoku, Brose
Fahrzeugteile, Gentherm, Tachi-S, TS Tech, and NHK Spring are key
players in this sphere. This rise in SUV popularity directly impacts the
demand for innovative car seating systems. As SUVs gain traction, these
companies invest in advanced automotive seats to meet evolving consumer
preferences and ensure enhanced driving experiences.
-- Key Trend - An influential trend shaping the automotive seats market
involves integrating extra functionalities and offering customization
options. This trend impacts seat manufacturers and drives the automotive
seating market. Innovations like electrically adjustable seats and
comfortable seating solutions enhance automotive upholstery, including
leather car seats. This trend aligns with vehicle interior components
and automotive interior design, improving advancements in vehicle
seating innovations that cater to diverse consumer preferences.
-- Major Challenges - The automotive seats market faces challenges due to a
decline in vehicle sales and production rates. This decline directly
impacts automotive seat suppliers specializing in passenger car seats,
reclining seats, and advanced automotive seating technology. Challenges
also emerge for innovations like seat heating systems and seat
ventilation. Maintaining growth in premium car seat designs becomes
arduous within the automotive seating industry amidst the struggle to
navigate fluctuating automobile seating solutions demand stemming from
reduced vehicle sales and production.
Market Segmentation
-- The passenger cars segment will be significant during the forecast
period. The passenger car segment in the automotive seats market is
driven by SUVs' growing acceptance due to their versatility, comfort,
and rising demand for electric vehicles globally. EV adoption increases
due to emission regulations, diesel vehicle bans, enhanced range,
cost-effectiveness, and government incentives. Car manufacturers focus
on seat comfort to meet increasing consumer demand for in-car
convenience, emphasizing advanced seat technology like heating and
ventilation, anticipated to boost market growth.
Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by
7 Market Segmentation by
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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