Global Automotive Seats Market Report Description:
Global automotive seats market report gives comprehensive outlook on automotive seats across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report on global automotive seats market gives historical, current, and future market sizes (US$ Mn) on the basis of trim material, seat type, vehicle type, vehicle energy source and region. 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 stakeholders of the global automotive seats market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global automotive seats products.
Global Automotive Seats Market:
The global automotive seats market valued US 60.1 Bn in 2019 and is poised to grow with a CAGR of 2.3% over 2020-2026. Some 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.
Passenger Vehicle Accounts for Larger Market Revenue Share in Global Automotive Seats 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 Accounts for Larger Market Revenue Share in Global Automotive Seats 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.
Key player’s profiles in the global market include:
- Adient PLC
- Lear Corp.
- Toyota Boshoku Corp.
- Magna International
- Aisin Seiki Co. Ltd
- NHK Springs Corp.
- Grupo Antolin
- TS Tech
Global automotive seats market is surging owing to strategic alliances by key players for automotive seats to meet the demands of the customers in the market. For Instance,
- 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.
Key Findings of the Report:
- Global automotive seats market expanding at significant CAGR over 2020 to 2026 due to rise in sales of luxurious vehicles in emerging countries
- Based on region, North America accounted for considerable market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global automotive seats market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Trim Material
- Synthetic Leather
- Genuine Leather
By Seat Type
- Bucket Seat
- Bench Seat
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Vehicle Energy Source
- Rest of Europe
- Au & NZ
- Rest of Europe
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of MEA