Automotive Seats Market: Current Analysis and Forecast (2021-2027)

Automotive Seats Market: Current Analysis and Forecast (2021-2027)

Global Automotive Seats is anticipated to display a CAGR of around ~4% over the forecast period (2021-2027). The automotive seat is an important component of a vehicle since it gives comfort to the driver. Furthermore, because of their capacity to integrate numerous interior sections and different types of fabric materials, these seats provide a car with a stylish appearance. Furthermore, automobile seats are one of the most important components in vehicles because they are meant to support the thighs, buttocks, lower and upper back, and head. They're commonly built of steel, aluminum, or a combination of the two. Rising sales of passenger, electric, and commercial cars around the world are one of the primary drivers boosting the automotive seat market share. Furthermore, factors such as an increase in passenger vehicle sales due to middle-class families' improved lifestyles combined with an increase in disposable money, as well as a surge in demand for feature-enabled advanced seats, all contribute to the automotive seat market's growth. The high cost of modular and sophisticated seats compared to regular seats may be a stumbling block for the automobile seat market's expansion. However, in the projected future, the rising use of lightweight materials to reduce the weight of car seats is offering new opportunities in the market.

Insights Presented in the Report

“Amongst Material Type, Synthetic Leather segment dominated the market in 2020”

Based on material type, the market is segmented into Synthetic Leather, Genuine Leather, Fabric, and Other Material. The Synthetic Leather segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Synthetic leather is accounting for the largest market share of the growing trend of the population going vegan. Also, synthetic leather cost much cheaper than leather along with it also provides the benefits of waterproof and easy cleaning

“Amongst technology, Powered Seats segment dominated the market in 2020.”

Based on technology, the market is segmented into Standard Seats, Powered Seats, Ventilated Seats, and Other Seats. The powered Seats segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The rising adoption of powered seats in mid-segment cars & SUVs is boosting the growth of powered seats. Also, the added benefits such as one don’t have to apply any force or load to adjust the seats in electronically adjustable seats, which is a boon, especially for grannies and grandpas also boost the demand of the segment as it enhances the customer's experience

“Amongst Vehicle Type, Passenger segment dominated the market in 2020.”

Based on vehicle type, the market is segmented into Passenger Cars and Commercial Vehicles. The Passenger Cars segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The passenger car sector is dominating the market share due to increased demand for automobiles such as mid-range sedans, sedans, and luxury sedans. Also, the rising production and sales of passenger cars are adding to the growth of the segment. The demand for passenger cars from developing countries such as India, China, etc. are the major contributors to this growth

“Amongst Seat Type, Bench Seat segment dominated the market in 2020.”

Based on seat type, the market is segmented into Bucket Seat and Bench Seat. The Bench Seat segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. When it comes to seating for two people, the bench seat has the biggest market share. As a result, it is chosen in various types of vehicles, including passenger automobiles and commercial vehicles, propelling the market's growth over the forecast period. Bucket seats are commonly used in commercial and passenger cars as driver and co-driver seats. Bucket seats are also available in the back of some high-end automobiles. Due to its cost-effectiveness, the bench seat is the most prevalent style of seating in the back seats of passenger automobiles and commercial vehicles. Because of its low cost and durable design, the bench seat is predicted to have a considerable market share

“Asia Pacific represents as the largest market.”

Based on the estimation, during the projection period of 2021-2027, Asia-Pacific is expected to be the fastest-growing market during the forecast period. Asia-Pacific region led the market for automotive seats, with China predicted to have a substantial share of the market due to the presence of major automotive seating manufacturers in the region. The increased demand for affordable vehicles in Asian countries such as China, Japan, South Korea, and India can be related to shifts in consumer behavior caused by pandemics. China is expected to be the fastest-growing market for automotive seats in this region due to rising vehicle production and sales. The increasing demand for hybrid and electric vehicles in emerging nations like China, India, and Japan will further add to the growth of demand of the automotive seat market in the region. Some of the major players operating in the market includes Lear Corporation, Toyota Boshoku Corporation, Faurecia SE, Gentherm Incorporated, Adient plc, Magna International Inc, Aisin Seiki Co., Ltd, Tachi-S Co., Ltd, NHK Spring Co., Ltd. and TS Tech Co.,Ltd etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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