- Fabric
- Synthetic Leather
- Genuine Leather
The global automotive seats market size valued USD 60.1 billion in 2021 and expected to reach USD 103.41 billion by 2028, at a CAGR of 5.2% during the forecast period 2022-2028Some of the key factors fueling the market growth include increasing worldwide vehicle production together with rise in sales of luxurious vehicles in developing countries, growing demand for SUVs, rise in need for climate-controlled seat technology, demand for lightweight automotive seats, growing demand for safety features and increase in demand for premium and luxury vehicles. However, high cost of advanced & modular seats and changing consumer needs & preferences are hampering the market growth. In addition, increasing usage of lightweight materials and development of advanced seating technologies are hindering the market growth. This report studies global automotive seats market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global automotive seats market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global automotive seats market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key Developments: In 2019, Lear Corporation a global automotive technology leader in seating and electrical and electronic systems through its subsidiary Xevo partnered with Hyundai Motor Company in order to deliver Xevo Market capabilities in Hyundai vehicles in the U.S. and Europe.
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
Passenger Vehicle segment accounted for larger revenue share in global automotive seats market with a significant CAGR and is expected to grow over the forecast years due to the availability of low production cost and labor cost, Factors such as the declining sales tax and high discounts offered by dealers, contribute to the increasing sales of passenger cars. Also, this segment offers small SUVs that combine the functionality of utility vehicles. Owing to their benefits, the demand for passenger car such as SUVs will increase in the coming years, providing growth opportunities to the players in the passenger car seat market.
Asia Pacific accounted for considerable revenue share in global automotive seats market and is expected to grow over the forecast years. The presence of some key car manufacturers and rising purchasing power of individuals in the region will drive the growth of the market. The rise in per capita income is driving the sales of passenger and commercial vehicles in the region, which will influence the growth of market. Emerging trends in automobile seating systems, increasing vehicle production will be major factors to drive the growth for market growth in the region. India, China Japan and South Korea will be prime contributors of market due the increase in Foreign Direct Investment and Government Policies supporting manufacturers.
Latin America
Europe
Asia Pacific
Middle East
North America
The automotive seat market is projected to expand at a CAGR of 5.2% during the forecast period.
Adient PLC, Lear Corp, Faurecia, Toyota Boshoku Corp, Magna International
Asia pacific is the fastest-growing region for the automotive seat market
Key player’s profiles in the global automotive seats market include: