It is anticipated that demand for car seats and accessories will reach $5 billion in 2021 and $5.3 billion in 2022. The market is predicted to grow at a CAGR of 4.5 percent from 2022 to 2032 and reach a value of US$ 8.3 billion. Growth is attributed to a sizable automobile industry with a broad product line and mature technologies.
Being an influential industry in the global market, it is essential that the automotive industry stays ahead in terms of technology with continuous improvements in components and products associated with automobiles. Car seat and accessories are such components and have been undergoing continuous improvements at regular intervals of time.
They are an important part of any automobile since they represent the overall comfort or feel of the car for drivers and passengers. Hence, with the growing rate of the automobile industry in terms of value sales, the sales of car seat and accessories has been surging in terms of value.
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Car seat and accessories play a crucial role in influencing consumer preference towards the purchase of an automobile, irrespective of whether it is a premium or an economy range car. As a result, car manufacturers are taking a special interest in bringing about continuous improvements in their car seat and accessories in terms of the quality and base material used for production.
Moreover, car seat and accessories have the ability to give a spacious look and appearance to the car, which eventually attracts customers to consider buying or driving the car. Attributing to this, a number of manufacturers in the industry are dedicated to the production of various lines of car seat and accessories in the global market.
Several interior designers are also dedicated to customizing car seat and accessories as per customer needs and requirements.
Global Car Seat and Accessories Market: Market Participants
Some of the key players operating in the global car seat and accessories market are Pheonix seating limited, Morrck Ltd., Clek Inc., Britas Römer, RDM Group, Amvian Automotive (Pvt.) Ltd., Diono LLC and Lear Corporation, among others.
Car Seat and Accessories Market: Key Trends
Prominent car seat and accessories manufacturers have been making several key acquisitions in the view of expanding their business in the global market.
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Car Seat and Accessories Market: Key Developments
In 2017, Lear Corporation, a key player in the global car seat and accessories market, announced the acquisition of Grupo Antolin’s seating business. Grupo Antolin specializes in the production of various car seat and accessories for North America and Europe markets
In 2018, Britas Römer another marquee player in car seat and accessories launched a new variant of car seat under the brand name of KIDFIX XP SICT and DUALFIX.
Opportunities for Car Seat and Accessories Market Participants
Over the years, customer perception has been changing with time and new technologies in the market. This factor has also been influencing the global car seat and accessories market. Customers desire to customize their car seat and accessories in accordance with their preference.
Moreover, families with newborns or toddlers take special care to equip their vehicles with baby care car seats, which eventually provides an immense opportunity for players in the global car seat and accessories market to gain traction in the baby care or infant care segment.
Brief Approach to Research for Car seat and Accessories Market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, product type, application and sales channel.
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