Attractive Opportunities in Automotive Seats MarketThis research report categorizes the automotive seats market based on type & technology, trim & frame material, component, vehicle and regionThe automotive seats market is projected to grow from USD 51.5 billion in 2021 to USD 68.4 billion by 2030, at a CAGR of 3.2% during the forecast period. Growing demand for premium vehicles, rising adoption of powered seats in mid-segment cars & SUVs and increasing demand for aftermarket seating solutions are driving the automotive seats market.
However, a projected recovery in Q1-Q2 of 2021 in vehicle production supports the growth of the automotive seats market. As a result there is an expectation that the demand for automotive seats will rise as well especially in regions like Asia Oceania and Americas.
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The automotive seats market, by seat type, in terms of value, is projected to grow at a CAGR of 3.2% from 2021 to 2030. Apart from the increasing production of all vehicle types, the growing demand for cabin comfort & luxury, as well as customer willingness to pay for them, has led to the bucket seat segment to occupy the leading position in this segment.
The automotive seats market, by technology, in terms of volume, is growing at a CAGR of 3.5% during the forecast period. With increasing adoption of multiple technologies in a single package, the demand for a combination of heated, ventilated, and memory seats and heated, ventilated, memory, and massage seats is expected to grow during the forecast period.
The trim material used in automotive seats are genuine leather, synthetic leather and fabric. Synthetic leather will be the largest market in terms of value during the forecast period.
The main factor driving the growth of the synthetic leather segment is its low cost compared to genuine leather and its superior performance compared to fabric.
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The automotive seats market, by seat frame material, the steel segment is estimated to lead the automotive seats market during the forecast period, in terms of value. This segment is projected to grow from at a CAGR of 2.8% during the forecast period.
Due to the cost benefit offered by steel, it is the preferred material by seat manufacturers.
Key Market Players:
The automotive Seats market is lead by established seat manufacturers such as Adient plc(US), Lear Corporation(US), Faurecia(France), Toyota Boshoku Corporation(Japan), and Magna International Inc.(Canada). These companies adopted several strategies to gain traction in the market.
New product development, partnership and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2021, which helped them to innovate on their offerings and broaden their customer base.
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