PUBLISHER: The Business Research Company | PRODUCT CODE: 1392488
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392488
“Automotive Seats Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive seats market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive seats? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive seats market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive seats are meticulously designed with a specific inclination angle to minimize the impact of collisions, providing a safer ride and offering benefits, particularly for the safety of children. These seats are crucial components for ensuring the comfort of individuals while driving the vehicle.
The primary types of automotive seats include bucket seats and split benches. A bucket seat is a single-person seat in a car or aircraft with rounded sides that partially enclose and support the body, contributing to a secure and comfortable driving experience. Various trim materials are employed in automotive seats, including genuine leather, synthetic leather, fabrics, and polyurethane foam. These seats find application in a diverse range of vehicle types, spanning from passenger cars and light commercial vehicles to heavy trucks and buses.
The automotive seats market research report is one of a series of new reports from The Business Research Company that provides automotive seats market statistics, including automotive seats industry global market size, regional shares, competitors with an automotive seats market share, detailed automotive seats market segments, market trends and opportunities, and any further data you may need to thrive in the automotive seat industry. These automotive seats market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive seats market size has grown strongly in recent years. It will grow from $70. 09 billion in 2023 to $74. 43 billion in 2024 at a compound annual growth rate (CAGR) of 6. 2%. The growth observed during the historical period can be attributed to various factors, including the increasing demand for cars, government regulations and safety standards influencing the automotive industry, changes in consumer preferences and tastes, fluctuations in fuel prices impacting vehicle choices, and the growing popularity of ride-sharing services as alternative transportation options. These factors collectively contributed to the dynamics of the automotive market during the historic period.
The automotive seats market size is expected to see strong growth in the next few years. It will grow to $95. 07 billion in 2028 at a compound annual growth rate (CAGR) of 6. 3%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of smart and connected features in automotive seats, the adoption of sustainable and recyclable materials in seat construction, an emphasis on ergonomic and health-focused designs, advancements in seat heating and cooling technologies, and integration with autonomous vehicle features. Major trends expected during this period include adjustable and adaptive seating configurations, the use of lightweight and high-performance seat materials, the incorporation of in-seat biometric and health monitoring systems, the provision of personalization and customization options for individual comfort, and the development of zero gravity and zero fatigue seat designs.
The automotive seats market is poised for growth, driven by the surging popularity of autonomous vehicles. These vehicles, capable of self-operation without human intervention, are spurring an increased demand for automotive seats due to their unique design and functionality requirements. Notably, in 2021, the International Energy Agency reported a substantial rise in SUVs on global roads, surpassing 35 million vehicles. As SUVs account for over half of US and Europe car sales, they are expected to constitute nearly 45% of worldwide vehicle sales in the near future. This growing preference for autonomous vehicles is anticipated to significantly amplify the demand for automotive seats.
The burgeoning demand for electric vehicles (EVs) is fueling the expansion of the automotive seats market. As the EV market continues to grow, there's an escalating need for seats that prioritize comfort, safety, and technological advancements. Reports from the Argonne National Laboratory in March 2021 revealed an uptick in American Hybrid-Electric Vehicle (HEV) purchases, while the International Energy Agency highlighted the global sales of electric cars exceeding 6. 6 million units in 2021. Consequently, the increasing inclination towards electric vehicles is a driving force behind the growth of the automotive seats market.
A significant trend within the automotive seats market is the integration of technological advancements. Major players in this sector are dedicated to developing innovative technological solutions to reinforce their market positions. Case in point, Toyota Boshoku Corporation, a Japan-based automotive component manufacturer, unveiled an IoT seat cover in March 2022. This revolutionary cover is designed to combat driver drowsiness by employing sophisticated systems. Equipped with sensors that estimate the driver's fatigue levels through heartbeat analysis upon seating, it connects with a smartphone application. Additionally, an active driver engagement system uses cabin-installed cameras to monitor eye and head movements, determining drowsiness levels and subsequently vibrating the seat cover and adjusting music playback for alertness. This technological leap underscores the commitment to safety and comfort in automotive seating solutions.
Major players in the automotive seats market are directing their focus towards pioneering solutions, exemplified by the 4Ever DLX Grad 5-in-1 Car Seat. This innovative car seat is tailored to cater to infants through early childhood, accommodating their growth stages seamlessly. The 4Ever DLX Grad 5-in-1 Car Seat boasts an effortless installation process, featuring clearly labeled instructions and a straightforward method involving lifting a cushion flap to thread the seat belt. A prime example of such innovation is demonstrated by Graco, a prominent US-based baby gear brand operating under the Newell Brands portfolio. Their recent launch of the 4Ever DLX Grad 5-in-1 Car Seat, an industry-first car seat, introduces five distinct modes of usage. Notably, this car seat includes a novel removable seat belt trainer, aiding in the correct positioning of kids' seat belts while in the car, ensuring enhanced safety for children up to 12 years old. This versatile offering caters to the needs of first-time parents and growing families alike, emphasizing safety and adaptability.
In September 2021, Adient PLC, an American Irish domiciled company specializing in automotive seating, made a significant acquisition. The company acquired Yanfeng Adient Seating Co., Ltd. (YFAS) and Chongqing Yanfeng Adient Automotive Components Co., Ltd. (CQYFAS) for a total deal amount of $695M. This strategic move positions Adient PLC to independently establish its footprint in China. The acquired entities, Yanfeng Adient Seating Co., Ltd., and Chongqing Yanfeng Adient Automotive Components Co., Ltd., are China-based automotive companies, emphasizing Adient PLC's strategic expansion and consolidation of its presence in the Chinese automotive seats market.
Major companies operating in the in the automotive seats market report are Adient plc, Lear Corporation, FORVIA Faurecia, Toyota Boshoku Corporation, Magna International Inc., Grupo Antolin-Irausa S. A., Panasonic Corporation, Hyundai Mobis Co., Visteon Corporation, Grammer AG, TS Tech Co. Ltd., Aisin Seiki Co. Ltd., Tachi-S Co. Ltd., Gentherm Incorporated, Brose Fahrzeugteile GmbH & Co. KG, NHK Spring Co. Ltd., Johnson Controls International plc, Keiper Recaro Group, Sitech Sitztechnik GmbH, Guelph Manufacturing Group, Inteva Products LLC, Futuris Automotive Pty Ltd., Adomani Inc., Dura Automotive Systems, Martur Automotive Seating Systems, Sharda Motor Industries Ltd., TATA AutoComp Systems Ltd., Wuhu Bethel Automotive Safety Systems Co. Ltd., Zhejiang Jujin New Energy Automobile Co. Ltd., Faurecia Automotive Industrie
Asia-Pacific was the largest region in the automotive seats market in 2023, and it is expected to be the fastest-growing region in the automotive seats market during the forecast period. The regions covered in the automotive seats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive seats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive seats market consists of sales of infant car seat, convertible car seat, 3 in 1 car seat, combination car seat, booster seat, built-in car seat, and special needs car seat. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.