The Automotive Seats Market is projected to grow at a CAGR of 2.51% during the forecast period, to reach USD 73.03 billion by 2025, from USD 60.30 billion in 2017. The base year considered for the study is 2017, and the forecast period is 2018-2025. Increasing vehicle production, especially SUV/MPV segment, coupled with increasing demand for premium vehicle sales loaded with luxury and comfort, are projected to fuel the demand for bucket seats with advanced technologies (heated, massage, ventilated, memory, and powered) and leather/synthetic trim materials. Alternatively, decreasing emission limits in emission regulations are projected to influence the materials used in seating components, leading to seating solutions made up of lightweight materials (Al, Mg, and carbon fibers).
Increase in demand for premium and luxury vehicles to fuel the demand for modular seats
The improving lifestyle and economic status lead to the change in consumer preferences across the globe. The demand for premium end vehicles has been continuously growing in developed and developing countries owing to the increasing disposable income, improving infrastructure, rising brand awareness, and growing competition between OEMs to offer improved features. This has led to an increase in the sales of premium and medium range vehicles at a global level. As per the analysis by MarketsandMarkets, global premium vehicle sales grew by 5.22% between 2015 and 2016. Developed regions such as Europe, North America, and few Asian countries such as Japan and South Korea are the key market for these vehicles. Also, the Indian and Chinese markets are expected to offer huge opportunities for premium and luxury vehicles in the coming years.
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Mercedes-Benz, BMW, and Audi are the prominent car manufacturers in the premium segment worldwide and have registered significant growth in premium vehicles sales in recent years. According to Mercedes-Benz publication, they sold nearly 2.3 million cars globally in 2017 with sales growing by 9.9% year on year basis. As per the BMW press release, the company’s sales grew by 4.2% between 2016 and 2017. The demand for modular seats is expected to grow in line with the increased demand for premium vehicles as these vehicles need technologically advanced seats such as heated, powered, massage, and ventilated seats, which can provide increased space, comfort and luxury features to the consumers. BMW 7 Series, Cadillac XTS, Mercedes-Benz E-Class, Jaguar XJ, Lincoln MKX, and Audi A8 are some of the premium car models that come with massage seat. The trend of modular seating technology in premium end vehicles is anticipated to grow in coming years to offer more premium feel, comfort, and safety to the consumers.
High cost of advanced & modular seats compared with conventional seats
Innovations and technological advancements have played a major role in giving a new face to the automotive seating system. Technologically advanced modern seats such as powered, massage, and climate-controlled seats offer better comfort, convenience, and ergonomics. However, these technologies have also increased the complexity of the overall seating system. Continuous R&D efforts have resulted in products that are highly advanced and capable of providing multiple seating positions and other facilities to the occupants. These advanced seats include various components and mechanisms produced using lightweight materials such as magnesium and aluminum. Also, the designing, prototyping, and production of these seating systems require huge investment, which is reflected in the high cost of seating systems. In developed regions such as North America and Europe, factors such as the acceptance of new technologies and high demand for premium vehicles drive the market. However, in cost-sensitive economies of Asia Oceania and RoW countries, consumers are still hesitant to pay for such expensive seats.
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Development of advanced seating technologies for future vehicles
The automotive industry is witnessing huge technological advancements in the field of autonomous and semi-autonomous vehicles. The automotive seating manufacturers are putting efforts to develop advanced seating systems that can provide optimum safety and comfort to the passengers of autonomous and semi-autonomous vehicles. These seating systems would be developed using innovative and precision engineering design concepts through optimization techniques that ensure efficient and reliable performance. Further, these seating systems would be equipped with several sensors, digital displays, electronic systems, and other advanced mechanisms that would enhance the entire seating experience.
Many prominent seating manufacturers, including Adient, Faurecia, Toyota Boshoku, and TS Tech, have already started developing concepts toward these seating technologies. With the help of big data and predictive analytics, the advanced seating system can analyze the data related to the physical and mental status of the passenger and automatically offer several seating options such as comfortable seat position, ventilation, and massage features as per the record of occupant’s behavior and preferences. Thus, the technological development of autonomous seating technologies can bring immense business opportunities for components suppliers (displays, sensors, and others) and data analytics companies.
Target Audience
· Automobile industry and related end-user industries
· Automotive Original Equipment Manufacturers (OEMs)
· Manufacturers of automotive seats and components
· Raw material suppliers
· Raw material suppliers of automotive seats and components
· Regional manufacturer associations and automobile associations
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