the global automotive seat market value is registered as USD 68.750 billion and is expected to grow at a significant rate of 5.11% CAGR with the market size of USD 101.27 billion during the forecast period.
Automotive Seat Market Synopsis
The major elements that are playing a vital role in the expansion of the Automotive Seat Market 2022 are the, increasing comfort to the rider, manufacturers fixating on lightweight seats, increasing advancement in the technology, expansion in the automotive sector, and others. The auto manufacturers are moving ahead intending to innovate their products. The major focus towards the smart seats for smart cars that will increase the ease provided by the seat.
The innovation integrated into the vehicle seats will lead to the expansion of the market during the review period. The automotive manufacturers in evolving nations are focusing on the advancement of the lightweight interior parts, to enhance fuel-efficiency, which will emerge as the growth of the market during the review period.
Automakers are focusing on the development of lightweight interior parts to improve fuel efficiency. The innovation made in the vehicle seats results in the growth of the market. Leading suppliers of seat structures bring advanced manual and power adjuster technology and comfort components to the table, creating intelligent concepts for the vehicle interior.
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These suppliers also use software and sensorics to connect mechatronic components. They strive to gain comprehensive expertise in development, assembly and logistics for complete seat systems and metal structures. COVID-19 temporarily halted the automotive seat industry; however, the automotive industry showing positive trends in recent years significantly influenced the financial results in 2022 and improved margins.
The management trends in the market are reinforcing the level of growth that can be achieved in the current market scenario. The variations seen in terms of strategy implementation and creation are modifying the development pace of the market. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends efficiently. The market contenders are making considerable adjustments to minimize the incidence of competitive disadvantage. The development patterns are reworked in tandem to the customer likings to realize the highest growth, and in the long run, viability. The plan formulation process in the market has become notably easier in which deviations are well accounted for, this approach increases the overall success of these plans in the market. The context for growth plans also has inspired the market for possible new entrants.
The significant companies in automotive seat market are Lear Corporation (U.S.), TM Automotive Seating Systems Private Limited (India), Faurecia (France), Toyota Boshoku Corporation (Japan), Tata Autocomp Systems Limited (India), TS Tech Co. Ltd (Japan), Magna International Inc. (Canada), Aktis Engineering Solutions (India), Fisher and Company (Austria), Marter Automotive Seating Systems (Turkey), IFB Automotive (India), DURA Automotive Systems (U.S.), Grammer Seating Systems (Germany), Johnson Controls (U.S.), and RECARO Automotive (Germany).
Automotive Seat Market Segmental Analysis
The market for automotive seat is segmented based on type, region, material, technology, and vehicle type. On the basis of type, the automotive seat market is segmented into bench, folding, bucket, and others. The segmentation on the basis of technology comprises of heated, powered, standard and powered heated. On the basis of Material, the market is segmented into genuine leather, synthetic leather, and fabric. The vehicle type segment of the automotive seat market consists of commercial vehicle and passenger car. The market includes regions such as Asia Pacific, North America, Europe, and Rest of the World.
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Detailed Regional Analysis
The regional analysis of the automotive seat market comprises of Asia Pacific, Europe, North America, and Rest of the World. The Asia Pacific region is anticipated to control the automotive seat market through the forecast period owing to the rising demand for hybrid and electric vehicles in developing nation such as China, India, and Japan. The Asia Pacific has observed the maximum production of commercial and passenger vehicle, owing to which, the demand for installation of seats with the latest technology, is set to rise. This will motivate the market in the Asia Pacific region. The European region is likely to be the next chief market, and is anticipated to lead owing to surging demand of high-end cars in the European region. The high-end cars will expect involve the latest technology to be installed in the vehicles, which will result in the amplified use of seats in the vehicles.
Oct 2018 Tachi-S Engineering USA who is a leader in automotive seating, has lately made main enhancements to its seat testing capabilities in the North American region. The need to improve environmental condition testing, the company has added one walk-in and one cabinet, two new Weisstechnik Environmental Chambers, to its Farmington Hills, Michigan location. The chambers permit high/low humidity, rapid temperature change rates, high/low temperature, or combined environmental testing.
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