The automobile seats market was valued at US$ 51.48 billion by 2021, and it is anticipated that it would rise by 3.0% year over year in 2022 to reach US$ 53.33 billion. Additionally, growth is anticipated to pick up during the assessment period of 2022-2032, increasing at a staggering 3.6% CAGR to reach US$ 75.96 Billion.
Vehicle sales have significantly increased in recent years, and this trend is anticipated to continue over the next 10 years. As a result, automobile seats are in high demand all around the world. Through 2032, it is anticipated that rising per capita disposable income and rising car ownership would influence the market for automobile seats.
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Automotive Seats Market Key Drivers
Rising adoption of powered seats in mid-segment cars & SUVs
- Throughout time, the share of SUVs has practically doubled due to a sharp shift in consumer preference for larger vehicles. The IEA estimates that in 2021, there will be more than 35 million additional SUVs on the road globally. SUVs account for over half of all vehicles sold in the US and one-third of vehicles sold in Europe.
- India currently has fewer SUV sales than western nations. Nonetheless, Automakers are releasing affordable compact SUVs, which is drawing customers. Because they are more affordable than full-size SUVs, tiny SUVs are becoming more and more popular in India.
- Several seat configurations are available in SUVs. For instance, full-size SUVs typically have a last/third row that is a 60/40 split bench/bucket and a first and second row with bucket seats. Compact SUVs have bench or bucket seats in the second row and bucket seats in the first row (may or may not be split).
- Full-size SUV seats may be heated, cooled, and powered by technology. Leather may also be used for the seats. The demand for powered and ventilated/heated seats is rising along with the global demand for SUVs.
Rise in Demand for Modular Automotive Seats to Foster Market Growth Prospects
- The Smart seating system is made available to the driver and passengers through modular car seats. The modular seats in cars offer security, comfort, safety, and additional features like heated, air-conditioned, and memory seats. These seats are equipped with pneumatic seats and active health monitoring systems.
- Because consumers are demanding more modern features and safety measures, the manufacturing of automobiles with modular seats is expanding. These are a few of the key factors that are anticipated to propel the automotive modular seat market’s expansion.
Advanced Innovations in Automotive Seats to Accelerate the Market Growth
- The automotive industry’s manufacturers are conducting more research to develop new goods. The producers primarily concentrate on creating comfortable smart modular seats for smart cars. The automobile modular seat industry is expanding at a faster rate because to recent advances in seat production.
- Automotive manufacturers are working to develop interior components that are lighter and more fuel-efficient in growing markets, which will open up lucrative potential for market expansion.
Which Segment to Remain Dominant in the Material Category?
Throughout the projected period, the synthetic leather sector is anticipated to have the largest market and increase quickly. The automotive parts manufacturers have begun using various synthetic leathers instead of genuine ones, enabling the segment to grow at a significant rate in the years to come. This is due to the rising trend of the population around the world going vegan and the growth in awareness among them about the animal cruelty done in the leather industry.
This is especially true for the leather sector, thus OEMs are using synthetic leather to create animal-cruelty-free seats. Through 2032, rising consumer awareness is anticipated to significantly increase demand for synthetic leather in the car seat market. This market is expected to grow at a 3.4% CAGR.
Prominent Automotive Seats Market:
- Fisher and Company
- RECARO Automotive
- TM Automotive Seating Systems Private Limited
- Lear Corporation
- Tata Autocomp Systems Limited
- Grammar Seating Systems
- Toyota Boshoku Corporation
- Johnson Controls
- Marter Automotive Seating Systems
- TS Tech Corporation Ltd.
- Aisin Seiki Co. Ltd.
- Tachi-S Co. Ltd.
- NHK Spring Co. Ltd.
- Guelph Manufacturing Group
- Futuris Group
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