Automotive Seats Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2017 to 2022

Published on : Mar-2019 | List of Tables : 302 | List of Figures : 96 | No. of Pages : 170 | Report Code : FACT42MR |

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.

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.

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.

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.

A recently released report by Fact.MR provides actionable and invaluable insights into the automotive seats market. The report includes a list of all the key factors influencing the performance of the automotive seats market along with valid justifications and analysis for each of the identified factors. Both a qualitative and quantitative assessment of the factors has been provided in the report. Additionally, all the macro and microeconomic facets influencing the growth of the automotive seats market have been included in the report. A comprehensive opportunity assessment of the automotive seats market has also been included in the report. Additionally, a comprehensive analysis of the competitive landscape prevalent in the automotive tires market has been provided in the report.

Chapter 1 – Global Automotive Seats Market – Executive Summary

The report on automotive seats market commences with an executive summary which provides brief yet affluent information about the automotive seats market. All the key highlights of the automotive seats market have been provided in the chapter along with exclusive recommendations from Fact.MR analysts. A comprehensive opportunity assessment of the automotive seats market has also been included in the chapter.

Chapter 2 – Global Automotive Seats Market Overview

The chapter provides a concrete definition of the automotive seats market along with a detailed taxonomy of the market to help readers develop a holistic understanding of the market. In addition to this, the chapter sheds light on the different macroeconomic factors influencing the performance of the automotive seats market. A list of all the key factors that are impacting the automotive seats market growth has also been provided along with accurate justifications for their inclusion in the report. The chapter also assesses the cost structure and supply chains prevalent in the automotive seats market.

Chapter 3 – Global Automotive Seats Market Analysis and Forecast By Product Type

A detailed breakdown of the automotive seats market on the basis of different product types has been provided in the report. The chapter provides comprehensive historical analysis as well as a forecast for each product type identified in the chapter.

Chapter 4 - Global Automotive Seats Market Analysis and Forecast By Vehicle Type

The chapter analyzes the automotive seats market on the basis of vehicle types. A historical assessment of each of the automotive seats market on the basis of vehicle types along with a forecast of their performance has been provided in the chapter.

Chapter 5 - Global Automotive Seats Market Analysis and Forecast By Cover Material

A detailed analysis of the automotive seats market on the basis of the type of material used for the production of its covers has been provided in the chapter. A historical analysis of the demand for each of the cover types identified in the chapter along with a forecast of their market performance has been provided in the chapter. The comprehensive analysis of each of the category on the basis of the region has also been provided in the report.

Chapter 6 - Global Automotive Seats Market Analysis and Forecast By Technology

The chapter provides a thorough analysis of the automotive seats market on the basis of the technologies used. A detailed historical assessment of each of the segment in addition to a forecast for each of them is provided in the chapter.

Chapter 7 - Global Automotive Seats Market Analysis and Forecast By Region

The chapter provides a comprehensive assessment of the automotive seats market on the basis of geographic regions. An individual analysis of each of the automotive seats market segments identified on the basis of the region has been provided in the chapter.

Chapter 8 – North America Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

A detailed assessment of the automotive seats market prevalent in the North American region is provided in the chapter. Each of the countries contributing significantly to automotive seats market growth has been analyzed individually in this chapter.

Chapter 9 – Latin America Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

The chapter provides a thorough assessment of the automotive seats market prevalent in the Latin American region. A comprehensive analysis of the performance of all the segments in the region has been provided in the chapter.

Chapter 10 - Europe Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

A detailed analysis of all the key trends influencing the performance of the automotive seats market in Europe has been provided in the chapter. In addition to this, the chapter sheds light on the automotive seats market performance in the recent past and also includes a forecast of the automotive seats market performance in the region.

Chapter 11 – Japan Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

The chapter provides a thorough analysis of the automotive seats market performance in the region which includes a detailed historical analysis of the market as well as a forecast of its performance in the foreseeable future.

Chapter 12 – APEJ Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

A comprehensive analysis of the automotive seats market prevalent in the APEJ region has been provided in the chapter. The chapter analyzes the automotive seats market existent in the region based on countries, product types, fabric cover, and technology.

Chapter 13 – MEA Automotive Seats Market Analysis and Forecast, By Country, 2012-2022

The chapter provides a detailed assessment of the automotive seats market existent in MEA. A comprehensive historical analysis of the automotive seats market performance along with a forecast of its performance in the foreseeable future in the region has been provided in the chapter.

Chapter 14 – Global Automotive Seats Market Company/Manufacturers/Distributors/Suppliers Profile and Revenue Projections

A detailed assessment of the competitive landscape prevalent in the automotive seats market has been provided in the chapter. The chapter explains the distribution of revenue between different players operating in the automotive seats market. All the leading players operating in the automotive seats market are identified in the chapter. Detailed profiling of each of the player sheds light on their notable business achievements, strengths, weaknesses, strategies, product portfolios, market presence, revenue share, and global footprint. The information provided in the chapter can be leveraged by business professionals and stakeholders to adjust their strategies to gain maximum profitability in the automotive seats market by tapping into the extensive consumer base of leading automotive seat manufacturers. Additionally, the information can help new and upcoming companies gauge the level of competitiveness prevalent in the automotive seats market and identify entry barriers into it.

 

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Automotive Seats Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2017 to 2022