Automotive Seats Market key Insights Based on Product Type, End-use and Regional Demand Till 2022

Posted on 2019-10-09 by Mark Hub in Automotive // 0 Comments

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.

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What are the Factors Upholding Automotive Seats Market Growth?

Burgeoning consumer demand for safety and comfort in automobiles is a vital factor driving the changes in the manufacturing of automotive seats. Luxurious, comfortable, and safe automotive seating systems are gaining preference among consumers which, in turn, is prompting OEMs to seek for automotive seats that could satisfy consumer expectations.
Demand for lightweight automotive seats is likely to rise with the implementation of corporate average fuel economy (CAFÉ) norms across the world prompting OEMs and automobile manufacturers to increasingly focus on enhancing the fuel efficiency of their products. Additionally, sustainability is gradually becoming a key factor influencing consumer decisions, a pervasive trend which is estimated to boost demand for lightweight automotive seats for production of fuel efficient and high-performance vehicles.
Growing concerns about the use of plastic in addition to stringent government regulations on waste production and plastic disposal are causing automotive seat manufacturers to invest heavily in research and development of new materials for manufacturing automotive seats. Naturally sourced material for the production of automotive seats is gradually gaining traction owing to its environment-friendly nature, durability, and lightweight. Use of biomaterials for production is one of the vital factors which is estimated to bolster automotive seats market growth.
Advancements in technology are expected to aid in automotive seats market proliferation with the integration of electrical components likely to increase comfort and offer an assortment of functionalities such as ventilation, heating, and massaging. Automated seat adjustment using sensors to assure comfort is another key element aiding the increasing penetration of technology in the automotive seats market.
With developments in technology gradually making autonomous vehicles a reality, the design of automotive seats is expected to undergo a significant transformation to address the requirements of the segment. The introduction of autonomous vehicles is likely to open lucrative opportunities for players operating in the automotive seats market.

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What are the Challenges Stakeholders in the Automotive Seats Market Need to Address?

OEMs are increasingly modifying their production processes to accommodate the burgeoning consumer demand for personalization in automobiles. The pervasive trend is expected to emerge as a significant challenge for automotive seats manufacturers who are seeking ways to address the demands while maintaining cost-effectiveness.
Demand for both lightweight and technologically advanced automotive seats is on the rise with consumers expecting enhanced comfort and fuel efficiency from vehicles. However, the production of lightweight automotive seats integrated with electrical components poses a daunting challenge for manufacturers operating in the automotive seats market.

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.
In order to stay at pace with the changing demands of the automotive industry, Faurecia announced the opening of a research and development center specifically for automotive seating. The facility was built with an investment of over US$ 14 million and will be focusing on the production of advanced electromechanical parts for seating systems such as backrest adjuster and electric backrest.
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.

Additional Insight:

Bench/Split Bench Seats Continue to Find Increasing Usage in LCVs

Demand for bench automotive seats is expected to prevail in the market with the product finding widespread adoption as a rear seat in cars. Bench or split bench seats offer enough space to accommodate more people relative to bucket seats making which is driving its adoption in lightweight commercial vehicles, (LCVs) SUVs, hatchbacks, and sedans. Additionally, demand for bench and split bench seats is expected to remain buoyant specifically in the LCV segment with proliferating ride-sharing market bolstering sales of the vehicles.

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The pervasive trend of interior personalization in automobiles is expected to drive demand for automotive seats with different cover material such as synthetic leather, fabric, and genuine leather while technological advancements are allowing consumers to choose from seats offering functionalities such as powered controls, heating or a combination of both.

Research Methodology

The report on automotive seats market is a consequence of a robust and elaborate research methodology. A two-step research process involving primary and secondary researches was used for obtaining invaluable insights into the automotive seats market. Interviewing experts from the automotive seats market formed the basis of the primary research while secondary research was conducted by thoroughly studying trade journals, company press releases, paid sources, and other publications related to the automotive seats market. Results from both steps of research were cross-referenced with each other to filter out erroneous information and create an authentic and accurate forecast of the automotive seats market.

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