The global automotive seats market size is anticipated to witness high growth owing to the increasing demand for lightweight seat frames in vehicles worldwide. Automotive seats are equipped with soft fabric and many interior components to ensure the stylish appearance of the vehicle. Fortune Business Insights™ shares valuable market information in its new report, titled , “Automotive Seats Market Size, Share & Industry Analysis, By Material Type (Genuine Leather, Synthetic Leather, Fabric), By Seat Type (Split Bench/Bench, Bucket), By Technology Type (Heated & Powered, Massage, Standard, Memory, Ventilated), By Vehicle Type (Passenger Cars, Commercial Vehicles) Others and Regional Forecast, 2019-2026.”
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List of the major companies that are present in the Automotive Seats Market include
- ohnson Controls Inc
- Lear Corporation
- AISIN SEIKI Co. Ltd
- Magna International
- TACHI-S Co. Ltd
- NHK SPRING Co. Ltd
- TS TECH Co. Ltd
- TOYOTA BOSHOKU CORPORATION
- Faurecia Automotive Seating Inc. among the other players.
What is the Scope of the Report?
The report offers a qualitative and quantitative analysis of the market. It discusses the factors propelling, repelling,and creating opportunities for the market between 2019 to 2026. The report description also offers vital industry developments, automotive seat market trends, and other interesting insights into the market. Detailed market segmentation based on factors such as seat type, technology type, vehicle type, and geography, are provided in the report. It also presents a list of significant players operating in the market and the major strategies adopted by them, such as merger and acquisition, agreements and contracts, investment in research and development, and others.
Market Drivers and Restraints:
Flexibility and Comfort Provided by Advanced and Modular Seats to Augment Growth
The increasing popularity of vehicles has propelled manufacturers to provide a new approach to its components. With modernization, the demand for luxury and premium vehicles has increased and this has further increased the need for comfortable automotive seats, with adjustable features. The aforementioned factor will significantly contribute to the growth of the market. A lead analyst at Fortune Business Insights™ says, “Consumers are shifting their focus towards flexible, comfortable, and luxury seating especially in SUV vehicles. This, coupled with the better standard of living and economic status, will create growth opportunities in the forthcoming years.” Additionally, the rise in the use of lightweight vehicles to reduce the overall weight of automotive seats will help bolster growth in the coming years.
However, the modular and advanced seats are expensive as compared to the conventional seats, and this may hamper the market. Additionally, the volatile price of metals used for making automotive seats may also cause hindrance to the overall growth of the market in the forecast period. Nevertheless, the increasing sale of passenger and commercial vehicles is further prognosticated to create lucrative growth opportunities for the market in the forthcoming years.
Asia Pacific to Dominate Market with Presence of Major Players
Based on regional segmentation, the global automotive seat market is widespread across Europe, North America, Asia Pacific, and the rest of the world. Among these, Asia Pacific emerged dominant with the largest automotive seats market share. Factors responsible for this growth include the rising number of vehicular production, the presence of major automobile manufacturers in the region, and the increasing adoption of innovative technology into vehicles. China stands dominant in the regional market, followed by Japan, South Korea, and India.
Likewise, the markets in Europe and North America are likely to witness significant growth attributable to the increasing demand from consumers for comfortable and luxurious travel. In addition to this, the implementation of technological development in vehicle manufacturers by players in this region is likely to promote the growth of the regional market over the years to come.
Competitive Landscape –
Launch of New Lightweight Vehicles – Major Objective of Players
Notable automotive seats market manufacturers are making huge investments into the production of next-generation vehicles providing quality comfort. Besides this, companies are also adopting collaborative strategies such as merger and acquisitions, company collaborations, mergers and acquisitions, agreements and contracts, and others to gain momentum in the market competition. Furthermore, players are aiming at producing lightweight seats for lightweight vehicles to ensure a relaxed and comfortable journey and earn high automotive seats market revenue in the forthcoming years.
Major Industry Developments of Automotive Seats Market Include:
February 2020 – A seating supplier called Adient sold its Recaro seating business to a privately owned investment corporation called Raven Acquisitions. The aim of this strategy is for Recaro to focus on producing ergonomic and performance seats.
February 2020 – Jaguar Land Rover announced a new concept called Project Vector, a concept platform for future smart city infrastructures. Jaguar declares this project as ‘Destination Zero Journey,’ guaranteeing a vision of electric, autonomous, and connected to the future vehicles offering urban mobility.
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