The global automotive seating market is expected to surge at a stagnant CAGR of around 3.40% during the forecast period from 2022 to 2032. The growth in the market is expected to reach a valuation of US$ 52,941.6 Million in 2022 and is anticipated to surge by an estimation of around US$ 73,960.9 Million in 2032.
The most recent model developments are discussed in the car seating market in order to provide the driver and passenger with more comfort. Over time, seating has evolved from basic sitting systems to intricate works of art that enable manufacturers and consumers meet their needs. With the aid of automotive seating components, manufacturers have begun creating new layouts that will modify seating systems more than conventional seating systems now do.
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It has been predicted that the Asia Pacific region’s market growth rate will accelerate. because businesses are aggressively establishing operations in emerging economies like China and India to benefit from the low labor costs there. Due to the luxurious adjustments that are actively being incorporated into seating systems to ensure that customers have a peaceful experience while driving, the adoption of modern automobile seats is on the rise. As a result, it is predicted that the automotive seats market will have a steady yet sluggish growth throughout the course of the forecast period.
Key Takeaways
- A drastic shift in consumer preferences has been observed over recent years since bigger cars have doubled the share of SUVs. They comprise a diverse range of seat combinations including bucket seats and second-row seats as bench or bucket (may or may not be split). On the basis of technological advancements, seats in full-size SUVs are fully powered, heated, and ventilated and could also use leather seats. Therefore, rising sales of SUVs are fueling the automotive seating market.
- It has been observed that government all over the world is taking active participation and role in making ways for Foreign Direct Investments supporting the automotive seating market. Due to the aforementioned factors, the global automotive seating market is expected to grow within the upcoming years.
- Future Market Insights has recently observed customer inclination for luxurious seating systems. Manufacturers are taking efforts in research and development activities to make products luxurious and emphasizing safety concerns.
- The automotive industry is increasing its focus on the development of advanced driver assistance technologies, with the major objective of developing and introducing a fully automated driving experience. There has been a reasonable surge in consumer preference for mobility-on-demand services, creating lucrative opportunities in the automotive seating market.
- With a surging preference for care sharing, the durability of seats will be a vital element to consider. These days different people commute in the same car at the same time, and privacy will be considered a crucial aspect that is resulting in pushing the manufacturers to innovate and acquire compelling products for end-users.
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Competitive Landscape
The prominent market players are making continuous innovations and indulging in several mergers and acquisitions in order to curate convenient seating solutions for the end-users. They are possessing compelling products that efficiently abide by consumer preference for further increasing demand in the global automotive seating market.
Key companies proliferating in the automotive seating market are:
- Fisher and Company
- RECARO Automotive
- Faurecia
- Grammar Seating Systems
- Johnson Controls
- TM Automotive Seating Systems Private Limited
- Lear Corporation
- Tata Autocomp Systems Limited
- Toyota Boshoku Corporation
- Marter Automotive Seating Systems
- TS Tech Corporation Ltd.
Key Segments In The Automotive Seating Market
By Seat Type:
- Split seat
- Bench seat
- Split Bench seat
By Vehicle Type:
- PCV (Passenger Commercial Vehicles)
- LCV (Light Commercial Vehicles)
- HCV (Heavy Commercial Vehicles)
By Distribution Channel:
- OEM
- Aftermarket
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More Insights into the Automotive Seating Market
North America is anticipated to dominate the global automotive seating market by accounting for the maximum share of the global landscape. This region is expected to grow at a steady pace cumulating around 20.0% of the total market share of the automotive seating market.
The growth in the region is attributed to the increasing demand for hybrid and electric vehicle motor. Moreover, emerging trends in automotive seating systems and growing vehicle production with legitimate government grants to carry forward research and development activities to further propel growth is fueling the market growth.
Europe is projected to account for the highest share of the automotive seating market and dominate the global forum throughout the assessment period. Currently, the European region is accountable for a 25.0% share of the automotive seating market size. The region comprises the highest production capacity for commercial and passenger vehicles, causing the demand for installing seats with advanced technology, which boosts the regional market’s growth.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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