Pune, India, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Exposure to seated whole-body vibration for prolonged period while driving increases risk to the spine, and heavy impacts due to bumpy roads and sudden maneuvering can develop low back disorders . Automotive seats are designed to support buttocks, head, thighs, lower, and upper back to avoid discomfort and prevent heavy impact on the body. Seats are usually constructed from foam and comforting materials to provide comfort, safety, and support to the driver and passengers.
The demand for cars of various segments is based on the income levels. For instance, Small Class or Type A and B cars are mostly bought by the lower-income population. The lower-medium income population usually buys Medium Class or Type C and D. The High-End class or Type E, F, and G are extensively bought by the higher-income population. The growing sales of automotive vehicles worldwide drive the demand for automotive seats. The rise in road trips with friends and family has fueled vehicle sales. In addition, the rising disposable income of people worldwide has contributed to the factors propelling the demand for automotive seats.
Automotive Seats Market in terms of revenue was estimated to be worth $60.28 billion in 2022 and is poised to reach $83.79 billion by 2030, growing at a CAGR of 4.2% from 2023 to 2030 according to a new report published by The Insight Partners.
The growth of this market is driven by Rising Demand for Premium Vehicles and Increasing Adoption of Powered Seats in SUVs and MPVs.
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Browse Comprehensive TOC on "Automotive Seats Market Forecast to 2030 - COVID-19 Impact and Global Analysis by Technology (Heated, Heated-Ventilated, Ventilated, With Massage Functions, and Others), Adjustment Type (Electrically Adjusted and Manual), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle), Seat Type (Front Row, Second Row, and Third Row), and Geography
List of Tables - 231
List of Figures - 91
No. of Pages - 252
Global Automotive Seats Market Scope:
| Report Coverage | Details |
| Market Size Value in | $60.28 billion in 2022 |
| Market Size Value by | $83.79 billion by 2030 |
| Growth rate | CAGR of 4.2% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
| Segments covered | Technology, Adjustment Type, Vehicle Type, Seat Type |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs) are widely purchased by consumers who frequently travel long distances. These vehicles have gained immense demand due to features such as more accommodation, comfortable seats, and luggage space. The high seating position in these vehicles allows the driver to get a superior view of the road with good visibility, which helps make better judgments while maneuvering. Seats in these vehicles provide comfort to driver and passengers for longer tours, drastically shifting the consumer's preference toward SUVs and MPVs. According to International Energy Agency (IEA), the number of SUVs increased by 35 million in 2021 compared to 2020 globally. Its sales increased by 10% in 2021 compared to 2020. The SUV market has observed robust growth in the US, India, and Europe. Further, electric SUVs garnered the highest number of sales in the electric vehicle segment. Globally, approximately 55% of electric car models were SUVs in 2021, up by 45% in two years.
Market players are launching vehicles with various features to cater to the growing demand from consumers for SUVs and MPVs. In August 2021, Toyota Motor Corporation (Toyota) launched a new Land Cruiser with rearward front seats and revised second and third row seats. The third row seats can be retracted to make luggage loading and unloading easier; seats also feature motorized stowing to generously increase legroom and boot space. Thus, such vehicles are driving the demand for automotive seats.
The Automotive seat market is segmented into five major regions—North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and South America (SAM). In 2022, Asia Pacific led the market with a substantial revenue share in the automotive seat market, followed by North America and Europe. Based on country, the Asia Pacific automotive seat market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The automotive industry across Asia Pacific has been experiencing significant growth over the years. According to the International Organization of Motor Vehicle Manufacturers, countries such as India, China, Indonesia, South Korea, and Thailand experienced a significant rise in vehicle production volume in 2022. Additionally, regional and global automotive manufacturers are investing in establishing new vehicle production plants across the region. For instance, in March 2022, Triton Electric Vehicle LLC announced the launch of its new production plant in Gujarat, India. In addition, in June 2022, BMW announced the opening of its new electric vehicle production plant in China with an investment of US$ 2.2 billion. The launch of new vehicle production plants is expected to increase the demand for automotive seats, contributing to the automotive seat market growth in the region.
Automotive Seat Market Analysis: Technology
Based on technology, the global automotive seat market is segmented into heated, heated-ventilated, ventilated, with massage functions, and others. The rising demand for heated seats for enhanced comfort during cold weather is helping the segment to grow at a significant rate.
Global Automotive Seats Market: Competitive Landscape
Lear Corp, TS Tech Co Ltd, Adient Plc, Summit Auto Body Industry Co Ltd, NHK Spring Co Ltd, Magna International Inc, Bharat Seats Ltd, RECARO Aircraft Seating GmbH & Co KG, Forvia, Toyota Boshoku Corp, and Tachi-S Engineering USA Inc are among the key automotive seat market players profiled in the report. Several other essential automotive seat market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed automotive seat market growth insights, which can help major players strategize their growth.
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Automotive Seats Market - Key Industry Dynamics:
Drivers:
- Rising Demand for Premium Vehicles
- Increasing Adoption of Powered Seats in SUVs and MPVs
Restraints:
- High-Cost Testing Processes for Startups and SMEs
Opportunities:
- Penetration of Heated/Ventilated Technology in Low Segment Cars
Future Trends:
- Adoption of ABTS
Recent Developments:
- In 2022, TS TECH Co., Ltd. and Alps Alpine Co., Ltd. signed a business alliance agreement to develop new cabin spaces for incorporation into next-generation vehicles. The alliance introduced high-value-added automotive cabin spaces.
- In 2022, an agreement to transfer two of Aisin's overseas manufacturing subsidiaries for seat frame mechanisms to Toyota Boshoku Corporation (Toyota Boshoku) was announced by the companies Aisin Corporation (Aisin), Shiroki Corporation (Shiroki), and Toyota Boshoku Corporation (Toyota Boshoku).
Report Spotlights:
- Progressive industry trends in the Automotive Seats market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the Automotive Seats market from 2023 to 2030
- Estimation of global demand for Automotive Seats
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the Automotive Seats market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the Automotive Seats market size at various nodes
- Detailed overview and segmentation of the market, as well as the Automotive Seats industry dynamics
- Size of the Automotive Seats market in various regions with promising growth opportunities
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