Automotive Seat Market 2020 | Global Analysis, Opportunities and Forecast 2023

Market Synopsis:

As per Market Research Future insights, the global market of automotive seat is expected to grow at fast-pace across the study period of 2017 to 2023. MRFR reveals that the market holds great potential to surge registering a lucrative CARG and a decent valuation by the end of the forecast period. Several factors are expected to drive the Automotive Seat Market growth. The increase in need for better comfort for both driver and passengers is observed as the chief factor that is expected to fuel the market growth.

Automotive seats are fabricated of durable materials, such as polyester. In recent times, it is observed that people are inclined towards purchasing a better lifestyle at high price. Hike in disposable income and rise in the standard of living are some prominent factors that are increasing the sales of costly polyester-made automotive seats. This is expected to propel the growth of the market. The availability of different types of automotive seats, such as bucket seat, bench seat, and folding seat are noted to meet the increasing demand for more comfortable ride and liberty of choice for products. MRFR identified this as another factor that can boost the growth of the Automotive Seat Industry.

Technological advancements are expected to be powerful boosters for the worldwide market of automotive seats. Various technologies are deployed in the production of seats that provide comfort to rider and passengers. Moreover, the automotive OEMs of seats are greatly focusing on developing lightweight seats to curb the overall weight of vehicles, which results in the better fuel efficiency of automobiles. Hence, the reduction in the cost of vehicle production is noted to prompt the global Automotive Seat Market growth.

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Segmental Analysis

The worldwide market of automotive seats is segmented by material, type, vehicle type, and technology. By type, the market is segmented by bucket, folding, bench, and others. The bench seat segment is likely to lead the global market across the evaluation period. This is because bench type of seats holds room for more than two persons, which results in, the increase in use of bench seat. Hence, the bench segment is expected to attain considerable valuation for the market. By type of vehicles, the market is segmented into commercial vehicles and passenger cars. The need and supply of automotive seats for both public and commercial automobiles is expected to contribute the expansion of the market. By technology, the market is segmented into heated, powered, standard, and powered & heated. The powered & heated segment is expected to dominate the worldwide market in the evaluation period. At the same time, heated seats are widely installed in high-end cars, which is expected to result in the expansion of the Automotive Seat Industry.

Regional Study

By region, the automotive market is studied across Asia Pacific, North America, Europe, and the Rest of the World (RoW). The market in the Asia Pacific region is likely to spearhead market growth. The high demand for electric and hybrid vehicles in economies, such as India, Japan, and China is likely to push the Automotive Seat Market in APAC. The region is known to be the highest producer of passenger and commercial automobiles. This is because of the growing demand for seats installation and deployment of latest technology by automakers of APAC. Europe is anticipated to be secure the position of second largest automakers market. The increase in demand for high-end cars and deployment of latest technology for installation of vehicles are expected to boost the market in Europe.

Key Players

Lear Corporation (U.S.), Johnson Controls (U.S.), Toyota Boshoku Corporation (Japan), Faurecia (France), IFB Automotive (India), TS Tech Co. Ltd (Japan), DURA Automotive Systems (U.S.), Magna International Inc. (Canada), Fisher and Company (Austria), Aktis Engineering Solutions (India), Marter Automotive Seating Systems (Turkey), TM Automotive Seating Systems Private Limited (India), Grammer Seating Systems (Germany), Tata Autocomp Systems Limited (India), and RECARO Automotive (Germany).

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