WASHINGTON, June 27, 2023 (GLOBE NEWSWIRE) -- Global Automotive Seat Market is valued at USD 51.9 Billion in 2022 and is projected to reach a value of USD 66.0 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.50% over the forecast period 2023-2030.
One of the most significant economic areas is the Automotive Seat business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for automotive seat, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Automotive Seat market growth over the forecast period. One of the main factors favorably affecting the demand for Automotive Seat is the rising demand for comfortable and luxurious interiors in automobiles, increasing disposable income and improvements in lifestyle.
We forecast that the leather category in Automotive Seat market sales will account for more than 30% of total sales by 2028 due to its high durability, style quotient, and easy maintenance. However, leather seats are also becoming more common in mid-range car models as demand for luxury features increases.
Asia Pacific dominates the market, and this trend of dominance will continue throughout the projection period owing to the presence of major automotive manufacturers in the region, coupled with the growing demand for vehicles from emerging economies such as India and China.
Market Dynamics
Technological Innovations to Drive the Market:
The automotive seat industry is evolving with technological advancements such as augmented reality simulation tools for seat design, touch-sensing seat covers, and seat occupancy sensors. This factor, which has increased the demand for Automotive Seat globally, will drive the market's expansion throughout the forecast period.
Increasing Demand for Safety Features to Promote Market Growth:
Governments worldwide are implementing stricter safety regulations for vehicles, which mandate the use of advanced safety features such as airbags, seat belts, and anti-lock braking systems. Automotive seats are an integral part of these safety systems, and manufacturers are investing in research and development to produce seats that provide optimum safety for passengers; the focus on driving safety is increasing the demand for automotive seats.
Top Players in the Global Automotive Seat Market
- Adient PLC
- Lear Corporation
- Toyota Boshoku Corporation
- Magna International Inc.
- Tachi-S Co., Ltd.
- Johnson Controls International PLC
- RECARO Holding GmbH
- TS Tech Co., Ltd.
- Faurecia SE
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Top Trends in Global Automotive Seat Market
- One trend that Vantage Market Research (VMR) expects to see in the Automotive Seat industry is the growing demand for luxury seats. Customers are willing to pay for luxury features in cars, and the demand for power-adjustable seats, heating and cooling seats, massage seats, and memory seats is on the rise.
- Another trend that VMR predicts will continue in the Automotive Seat industry is increasing demand for lightweight seats. There is a rising demand for lightweight automotive seats as they enhance fuel efficiency and reduce vehicle weight. Materials such as aluminum and high-strength steel are being used to design seats.
Top Report Findings
- Based on material type, most of the Automotive Seat market's revenue is controlled by the leather category. Factors include the high durability, style quotient, and easy maintenance driving its significant market share.
- Based on technology, the powered seats category dominated the Automotive Seat market. This trend is anticipated to continue because of the increasing demand for comfort and luxury features in vehicles, which has led to the adoption of power seats in premium and luxury vehicles.
- Based on seating type, the bucket category dominated the Automotive Seat market, and it is anticipated that this trend will continue because of their comfort, design, and customization options.
- Based on vehicle type, The passenger cars category dominated the Automotive Seat market, and this trend is anticipated to continue owing to the growing demand for comfort and convenience.
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Top 10 Players Generates More Than 45% of the Global Automotive Seat Market Revenue
The report also found that the largest players in the Automotive Seat market are technology providers & manufacturers such as Adient PLC, Lear Corporation, Toyota Boshoku Corporation and Faurecia SE. These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include Grupo-Antolin Irausa SA, Magna International Inc., Tachi-S Co., Ltd., Johnson Controls International PLC, RECARO Holding GmbH, TS Tech Co., Ltd., and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Bucket Seats Category in Automotive Seat Market to Generate Over 30% Revenue
Automotive Seat is an expensive investment. Vantage Market Research has analyzed the market for Automotive Seat to understand its current state and potential future growth factors. For better understanding, based on seating type the Automotive Seat market is divided into: bucket seats and bench seats.
During the forecast period, the market for bucket seats is anticipated to experience the highest CAGR due to their comfort, design, and customization options. Bucket seats offer comfort, support, and better driving experience, thus leading to their high demand among consumers. Moreover, bucket seats are popular with high-performance and sports cars, as they provide better support during cornering and offer a sporty look to the interior.
On the other hand, bench seats category is anticipated to grow significantly over the forecast period because bench seats offer more space and accommodate additional passengers; hence they are preferred in larger vehicles such as SUVs and trucks. However, with changing consumer preferences towards comfort and style, bucket seats are expected to continue holding a larger market share in the automotive seat market in the coming years.
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Global Automotive Seat Market Segmentation
By Technology
- Heated Seats
- Powered Seats
- Ventilated Seats
- Massage Seats
- Memory Seats
- Others
By Material Type
- Leather
- Fabric
- Synthetic
By Seating Type
- Bucket Seats
- Bench Seats
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 51.9 Billion |
| Revenue Forecast by 2030 | USD 66.0 Billion |
| CAGR | 3.50% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Adient PLC, Lear Corporation, Toyota Boshoku Corporation, Magna International Inc., Tachi-S Co., Ltd., Johnson Controls International PLC, RECARO Holding GmbH, TS Tech Co., Ltd., Faurecia SE |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/automotive-seat-market-0761/customization-request |
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