Automotive Seats Market Size, Growth, Forecast | Opportunities by 2017 to 2022

Posted on 2019-08-22 by Mark Hub in Internet & Online // 0 Comments

According to a recent study by Fact.MR, the automotive seats market is projected to grow at a steady rate during the 2017-2022 period with the global sales poised to surpass US$ 34 billion in 2019. Bolstering automobile sales, the introduction of novel and innovative products, and increasing production are some of the factors contributing significantly to automotive seats market proliferation.

The personal vehicles are focusing in the pertaining factors such as handling, ride comfort, technology and appearance in the automotive seats market. Accordingly, static and dynamic anthropometry data are being assessed for proper design of a comfortable and safe seat.

Modern power seats offer the ability to manage every aspect of the seat—seat height, steering wheel, seat tilt, lumbar support, distance from the steering wheel. As such, advanced seats measure the weight of the driver to find out the air-bag settings and offer head rests to lower neck injury in case of collision.

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Automotive Seats Market – Key Insights

Resurgent sales of automobiles around the world after the recession of 2008 was a vital factor which bolstered automotive seats market growth. Recovering sales helped automotive seats market register a healthy growth rate of 4.2% during the 2012-2016 period.
Proliferating automobile sales owing to a surge in the demand for light commercial vehicles for the development of fleets along with other factors saw the automotive seats market generate revenues of US$ 33 billion in 2018. The market is poised to register healthy growth at a CAGR of 5% during 2017-2022.
APEJ is estimated to account for the bulk of the automotive seats market share with the demand for luxurious and comfort seating on a rise in the region.
APEJ is also expected to emerge as the fastest growing automotive seats market owing to the presence of numerous leading automotive seating manufacturers in the region coupled with 90% of the modern-day urbanization taking place in the region.

Automobile manufacturers are constantly seeking novel and innovative products to meet the burgeoning consumer expectations for comfort, luxury, and safety inside vehicles. Automotive seating is slowly emerging as a key determinant influencing consumer preferences. In order to consolidate their position in the automotive seats market, manufacturers are increasingly integrating automotive electronics for production of innovative products. Additionally, the growing possibility of autonomous vehicles going mainstream in the foreseeable future is prompting automotive seat manufacturers to invest heavily in research and development of seating systems which would meet the requirements of the upcoming range of automated vehicles.

Automotive Seats Market – Competitive Landscape

With innovation gaining focus in the automotive seats market, leading companies are coming together for research and development of innovative and novel automotive seating solutions. In line with the same pervasive trend, Lear Corporation announced entering a partnership with Gentherm Inc. for research and development of thermal seating systems. The companies will be focusing on developing a modular and integrated heating and cooling system for Lear’s Intu seating systems.
To capitalize on the burgeoning demand for automotive seats, Toyota Boshoku announced signing a Memorandum of Understanding (MoU) with Toyo Seats Co., Ltd., and Delta Kogyo Co., Ltd., to form a joint venture for the manufacturing of automotive seats in the US. The newly formed alliance is aiming to leverage the expertise of each of the partners for acquiring an order from the Mazda Toyota joint venture in the US which is scheduled to begin production of vehicles from 2021.
Growing innovation towards the development of seating systems for autonomous vehicles received a substantial boost when Magna, a Canadian-based automotive seats manufacturer showcased its reconfigurable seating technology specifically tailored for autonomous vehicles. The company unveiled three different seating ecosystems for car sharing, long road trips, and autonomous ride-sharing.

Other key players operating in the automotive seats market include TACHI-S Co., Ltd., IFB Industries Limited, and Adient Plc.

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