Booming automotive industry is expected to positively influence the growth of global automotive seats market during forecast period.
A new market research report titled “GLOBAL AUTOMOTIVE SEAT MARKET REPORT BY TECHNOLOGY (STANDARD, POWERED & HEATED AND MASSAGE), BY VEHICLE TYPE (PASSENGER CAR & COMMERCIAL VEHICLE), BY MATERIAL (FABRIC, GENUINE LEATHER & SYNTHETIC LEATHER), BY DISTRIBUTION CHANNEL (OEM & AFTERMARKET), BY REGION, COMPETITION, FORECAST & OPPORTUNITIES, 2024“, has been added to the wide online database overseen by TechSci Research. The study talks about the prime market growth factors alongside future projections that would affect the global automotive seat market amid the forecast period between 2019 and 2024. The concerned study is broken-down in various market factors including top players, demand & production stats, challenges, and opportunities with the end goal to edify the readers about the real scenario in the Automotive Seat Market.
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Global automotive seat market stood at $ 84333.40 million in 2018 and is anticipated to grow at a CAGR of around 4% to reach $ 105969.10 million by 2024 on account of surging demand for comfortable and luxurious seating features. Moreover, growing need for lighter vehicles with higher efficiency would further fuel investments in developing ultra-light luxurious seating features. Additionally, rising per capita income and changing lifestyle of people has led to increase in demand for passenger vehicles globally. Booming automotive industry is further expected to positively influence the growth of global automotive seats market during forecast period.
Global automotive seat market can be segmented based on technology, vehicle type, material and distribution channel. Based on the vehicle type, the market can be classified into passenger car and commercial vehicle. Passenger car segment dominates the market and the trend is likely to continue during forecast period as well, on account of rising consumer purchasing power in the emerging economies and increasing demand for SUVs and luxury vehicles. Different technologies used in the automobile seats include powered & heated, massage, standard and others. Of all, powered & heated segment is likely to grow at the fastest rate on account of rising adoption in countries with colder climatic conditions.
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Regionally, the market for automotive seat is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. Asia-Pacific is leading global automotive seat market owing to increasing vehicle production and sales in economies such as China and India. Moreover, increasing disposable income and technological advancements are further anticipated to positively influence the growth of automotive seat market in the region.
The major players operating in global automotive seat market include Adient Plc., Lear Corporation, Faurecia Services Groupe Sasu, Magna International Inc., Johnson Controls Inc., Aisin Seiki co. Ltd, Toyota Boshoku Corporation, NHK Spring Co. Ltd., Faurecia SA, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Faurecia SA introduced concept of Active Wellness, which uses sensors and cameras to collect data on driver’s physical condition and then adjust the seats on its own.
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