CAGR: 3.3%Current Market Size: USD 49.5 Billion Fastest Growing Region: North America
Largest Market: APACProjection Time: 2021-2028Base Year: 2020
The global Automotive Seats market is expected to grow from USD 49.5 Billion in 2020 to USD 63.7 Billion by 2028, at a CAGR of 3.3% during the Projection period 2021-2028. This growth of the automotive seats market is significantly driven by upsurge in vehicle production coupled with the demand for premium and luxury vehicles.
Automotive Seat is the seat used in automobiles. The seats are designed for supporting thighs, lower & upper back, the buttocks, and head support. The passenger and front driver seats of most vehicles have three main parts: the head-rest, the seat back (squab), and seat base (cushion). Usually, the seats are made from low-priced but durable material to withstand persistent use. The most common material is polyester.
Further, automotive seats offers a stylish look to a vehicle as they have ability to integrate different type of fabric materials and various interior parts. Also, the number of market players are coming together for research and development (R&D) of advanced and new automotive seating solutions.
Request Sample:- Global Automotive Seats market
Market Dynamics
Drivers:
There is rising demand for high-performance, fuel-efficient, and low-emission vehicles, boosting the production and sales of passenger, electric, and commercial typed vehicles. Northeast Asia, North America, and Europe are the leading regions in terms of vehicle production and sales. For instance, despite the disruptions of COVID-19, Volkswagen, Hyundai, Nissan, and Honda reopened their plants in China.
The factors such as easing the disposable incomes of consumers and shifting consumer preferences to SUVs are pushing the demand for luxury vehicles across the globe. In addition to this, luxury and premium vehicles are providing a high level of comfort and safety features, boosting demand for such vehicles.
Restraints:
Because of the increased import tariffs of vehicles, the growth of the market got hampered. For example, the election of the U.S. President is expected to increase the import tariffs on German luxury vehicles. Due to this, the BMW along with other German luxury car manufacturers may have to face a 35% import duty for cars that are not built in the U.S.
Opportunities:
In the year 2020, despite the COVID-19 pandemic, autonomous cars observed a rise in sales with about 11.2 million cars sold with level 2 features, which is a growth of 78% from 2019. This has led to the demand for automakers across the globe to introduce more new level, 2 autonomous vehicle models.
Challenges:
Owing to the unprecedented crisis of COVID-19, a number of countries have employed nationwide lockdowns. This has caused significant economic downturns across the globe. Due to a slowdown in industrial activities and consumer markets, the automotive seat industry has been impacted as the production of vehicles has been hampered during the pandemic. Such factors may pose challenges to the global automotive seat market.
Segmentation Analysis
The global Automotive seat market has been segmented based on Seat Type, Technology, Trim Material, Material, Component, Vehicle, Electric Vehicle, and regions.
By Seat Type
By Technology
By Trim Material
By Material
By Component
By Vehicle
By Electric Vehicle
By Off-Highway Vehicle
By Regional Analysis
The regions analyzed for the Automotive seat market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The Asia-Pacific region dominated the Automotive seat market and held the 40.3% share of the market revenue in 2020.
Key Industry Players Analysis
Key players are focusing on new developments to improve the position in the market
The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global Automotive seat industry.
For instance, in August 2019, Lear Corporation, the automotive technology leader, and Gentherm, the developer of innovative thermal management technologies, partnered to drive future of passenger thermal seating solutions.
In February 2020, Toyota Boshoku Corporation, one of the leading market players developed seats with comfortable and convenient function "Driver's Easy Return Seat function" for the Toyota's New Model Yaris in Japan.
Latest Development
Report Metrics
Report Attribute |
Details |
Projection period |
2021-2028 |
Base year considered |
2020 |
CAGR (%) |
3.3% |
Market Size |
49.5 Billion in 2020 |
Projection unit |
Value (USD) |
Segments covered |
Seat Type, Technology, Trim Material, Material, Component, Vehicle, Electric Vehicle, and regions |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Adient plc, Aisin Seiki Co., Ltd., Faurecia, GENTHERM, Lear Corporation, Magna International Inc., NHK SPRING Co.,Ltd., Tachi-S Co.,ltd., Toyota boshoku corporation, and TS Tech Co.,Ltd. among others |
By Seat Type |
|
By Technology |
|
By Trim Material |
|
By Material |
|
By Component |
|
By Vehicle |
|
By Electric Vehicle |
|
By Off-Highway Vehicle |
|
Regional scope |
|
Scope of the Report
Global Automotive Seats Market by Seat Type:
Global Automotive Seats Market by Technology:
Global Automotive Seats Market by Trim Material:
Global Automotive Seats Market by Material:
Global Automotive Seats Market by Component:
Global Automotive Seats Market by Vehicle:
Global Automotive Seats Market by Electric Vehicle:
Global Automotive Seats Market by Off-Highway Vehicle:
Global Automotive Seats Market by Region:
Global Automotive seat market is expected to reach USD 63.7 Billion by 2028, at a CAGR of 3.3% from 2021 to 2028.
The regions analyzed for the Automotive seat market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
The global Automotive seat market has been segmented based on Seat Type, Technology, Trim Material, Material, Component, Vehicle, Electric Vehicle, and regions.
leading market players active in the global Automotive seat market are Adient plc, Aisin Seiki Co., Ltd., Faurecia, GENTHERM, Lear Corporation, Magna International Inc., NHK SPRING Co., Ltd., Tachi-S Co., Ltd., Toyota boshoku corporation, and TS Tech Co., Ltd. among others.
Upsurge in vehicle production coupled with the demand for premium and luxury vehicles.
The pandemic has significantly affected several industries and has caused a worldwide economic slowdown. Due to a slowdown in industrial activities and consumer markets, the automotive seat industry has been impacted as the production of vehicles has been hampered during the pandemic.
Increasing production and sales of passenger, electric, and commercial typed vehicles primarily drive the growth of the automotive seat market.
Based on the sales revenue, product offering, and regional presence, the companies are selected.
Political- The government is working towards developing the automotive sector which will help in providing job facilities to many youths. This growth of the automotive seat market is significantly driven by an upsurge in vehicle production coupled with the demand for premium and luxury vehicles. A number of market players are coming together for research and development (R&D) of advanced and new automotive seating solutions.
Economic- Because of the increased import tariffs of vehicles, the growth of the market got hampered. For example, the election of the U.S. President is expected to increase the import tariffs on German luxury vehicles. Due to this, the BMW along with other German luxury car manufacturers may have to face a 35% import duty for cars that are not built in the U.S.
Social- The growth of the Asia-Pacific automotive seat market is mainly driven by rising populations along with the rapid urbanization and increasing demand for vehicles across the countries such as China, Japan, South Korea, and India. On the other hand, demand for heated and powered seats is expected to grow in the Asia-Pacific region, due to the rising demand for mid and high-end SUVs. The North American region is likely to register significant growth during the Projection period. A number of automotive OEMs and pioneers in the global automotive industry are located in this region along with the constant push towards R&D activities. This factor is projected to create lucrative growth opportunities for market growth in North America.
Technological- Lear Corporation which is the automotive technology leader in E-Systems and Seating, launched a new solution in intelligent seating named INTU™ Thermal Comfort with ClimateSense™ technology, which was developed in collaboration with Gentherm. Several companies in the automotive sector are focusing on developing new technology for boosting the growth of the global automotive seat market.
Environmental- There is rising demand for high-performance, fuel-efficient, and low-emission vehicles, boosting the production and sales of passenger, electric, and commercial typed vehicles. But apart from all the positive factors, the automotive seats are made from leather which is easily disposable and does not help in increasing pollution on earth.
Legal- In August 2019, Lear Corporation, the automotive technology leader, and Gentherm, the developer of innovative thermal management technologies, partnered to drive the future of passenger thermal seating solutions. In addition to this in February 2020, Toyota Boshoku Corporation, one of the leading market players developed seats with the comfortable and convenient function "Driver's Easy Return Seat function" for the Toyota's New Model Yaris in Japan.
List of Table
List of Figures