PUBLISHER: The Business Research Company | PRODUCT CODE: 1484935
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484935
Car seats and accessories are specialized components of vehicles aimed at improving comfort, safety, and aesthetics. These items prioritize passenger safety and convenience, especially for children, during car travel. Subject to rigorous regulations and standards, car seats and accessories are meticulously designed to ensure effectiveness in safeguarding occupants in the event of accidents or collisions.
The primary product types within the realm of car seats and accessories encompass various categories such as car seats, car accessories, car alarms and security systems, car floor liners or floor mats and carpets, car knob levers and door products, car sound systems, car seatbelts, and other related items. Car seats are specifically engineered seating units installed in vehicles to ensure passenger comfort and safety during transportation. They find application in a wide range of vehicles including passenger cars and commercial vehicles, and are distributed through diverse channels such as original equipment manufacturers (OEM) and aftermarket retailers.
The car seat and accessories market research report is one of a series of new reports from The Business Research Company that provides car seat and accessories market statistics, including car seat and accessories industry global market size, regional shares, competitors with a car seat and accessories market share, detailed car seat and accessories market segments, market trends and opportunities, and any further data you may need to thrive in the car seat and accessories industry. This car seat and accessories 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 car seat and accessories market size has grown strongly in recent years. It will grow from $5.13 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The expansion observed during the historical period can be attributed to several factors, including the implementation of stringent safety regulations, a heightened focus on child passenger safety, evolving consumer lifestyles and preferences, the growth of urbanization and car ownership rates, as well as increasing awareness campaigns promoting child passenger safety.
The car seat and accessories market size is expected to see strong growth in the next few years. It will grow to $6.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The projected growth in the forecast period can be attributed to several key factors, including the rising demand for advanced safety features, a growing emphasis on sustainability and eco-friendly products, the integration of smart technology into car accessories, the availability of customization and personalization options for consumers, and the expansion into emerging markets and regions. Major trends expected during this period include an increased focus on safety features, a rise in the availability of eco-friendly products, the integration of smart technology, and the provision of customization and personalization options, along with the expansion into emerging markets.
The anticipated increase in automotive production is set to drive the growth of the car seat and accessories market in the foreseeable future. The automotive industry encompasses various activities, including the design, development, manufacturing, marketing, and sale of motor vehicles such as cars, trucks, buses, motorcycles, and other types of vehicles. This rise in automotive production is fueled by technological advancements, market trends, government policies, and industry investments. As automotive production surges, there is a corresponding demand for car seats and accessories to equip these vehicles. Consumers purchasing new vehicles often seek to customize and enhance their driving experience with upgraded seats and accessories. Notably, data from the European Automobile Manufacturers Association reveals that in 2022, worldwide motor vehicle production reached 85.4 million units, marking a 5.7% increase compared to 2021, thus underscoring the pivotal role of rising automotive sales in propelling the growth of the car seat and accessories market.
Key players in the car seat and accessories market are focused on forging strategic partnerships to develop innovative products and consolidate their market positions. Strategic partnerships entail collaborative relationships between two or more entities, typically businesses or organizations, aimed at achieving mutual objectives or strategic goals. For instance, in December 2023, Hyundai Mobis, a South Korea-based automotive company, announced a partnership with True Assistive Technology, an India-based mobility equipment company, to introduce accessible car seat solutions in India, specifically the TurnPlus swivel seat mechanism. This collaboration aims to assist individuals with disabilities and senior citizens facing mobility challenges. The TurnPlus product, designed by True Assistive Technology, enhances travel quality and life by simplifying car travel for those with mobility issues. Notably, the mechanism can be installed in 80% of Indian cars in less than 5 hours without altering the car's structure, ensuring easy removal and restoration of the original seat.
In January 2023, Samvardhana Motherson International Ltd., an India-based automotive company, acquired a 51% stake in Saddles International Automotive and Aviation Interiors (SIAAIPL) for $27.6 million. This strategic acquisition is expected to enable Samvardhana Motherson International Ltd. to diversify its business by venturing into the upholstery market and expanding its product offerings in rear-view mirrors, interior, and exterior modules. Saddles International Automotive and Aviation Interiors (SIAAIPL), an India-based automotive company, specializes in manufacturing premium upholstery for various applications, including passenger vehicle seat covers, gear knob covers, and door panel wrapping.
Major companies operating in the car seat and accessories market are Magna International Inc., Faurecia SE, Lear Corporation, Lear Corporation, AutoZone Inc., O'Reilly Automotive Inc., Adient Plc, Advance Auto Parts Inc., Graco Inc., Pep Boys Manny Moe & Jack of Delaware Inc, Halfords Group Plc, GRAMMER AG, Toyota Boshoku Corporation, Gentherm Incorporated, Lund International Holdings Inc., Covercraft Industries, WeatherTech, Cars.com, Thule Group, Omix-ADA, Baby Trend Inc., Jegs High Performance, Automotive Parts & Machine Inc., Futuris Automotive
Asia-Pacific was the largest region in the car seat and accessories market in 2023. The regions covered in the car seat and accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the car seat and accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The car seats and accessories market consists of sales of car cushions, seat protectors, sunshades, and cup holders. 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.