According to a recent report published by Allied Market Research, titled,“Automotive Seat Market by Trim Material Type, Seat Type, Vehicle Energy Source, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”the automotive seat market size was valued at $71,651.20 million in 2017, and is projected to reach $101,397.20 million by 2025, registering a CAGR of 4.3% from 2018 to 2025. The gasoline vehicle energy source type segment was the highest contributor to the market in 2017, accounting for $56,828.9 million, and is estimated to reach $72,226.0 million by 2025, registering a CAGR of 2.9% during the forecast period. In 2017, the automotive seat market share has accounted highest for the Asia-Pacific region.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the automotive seat market in 2017, whereas India is expected to grow at a significant rate during the forecast period.
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The automotive environment is changing at a rapid pace due to globalization. Therefore, increase in automotive sales due to improvement in manufacturing facilities in most of the emerging countries such as China, India, and Brazil is a key factor that drive the demand for automotive seats. Improvement in productivity of automotive seats in the automotive sector is anticipated to influence prominent players to invest and expand the business through different segments such as electric and internal combustion engine. In addition, increase in disposable income of consumers and surge in passenger vehicles sale across the globe fuel the demand for automotive vehicles, which in turn is expected to boost the growth of the automotive seat market.
Developing countries such as India, China, and Brazil are the most promising countries for the automotive sector, owing to increase in sales of electric vehicles. Furthermore, increase in awareness about the latest technology used in automotive and rise in deployment of automotive seat in automobiles from the giant companies are expected to fueling the growth of the market. The automotive seat market trends are decided on the basis of forecast from 2018 to 2025. In recent years, consumers have shifted their interest toward technologically advanced, autonomous seating that have number of applications. This in turn increases the overall use of automotive seat components in vehicles, thereby boosting the automotive seat market growth.
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Key Findings of the Automotive Seat Market:
- In 2017, based on seat type, the bucket seat segment generated the highest revenue.
- In 2017, by vehicle type, the passenger type was the highest revenue contributor.
- In 2017, by vehicle energy source, the gasoline segment was the highest revenue contributor.
- In 2017, region wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.
The key players analyzed in this report include Adient plc, Aisin Seiki Co., Ltd, Faurecia, GENTHERM, Lear Corporation, Magna International Inc, NHK SPRING Co., Ltd., Tachi-s Co, Ltd., Toyota Boshoku Corporation, and TS Tech Co., Ltd.
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