Global sales of automotive seats is estimated to be valued at US$ 55.34 Bn in 2017 and is projected to increase and to be valued at US$ 74.19 Bn by 2025. “Automotive Seats Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025),” is the new report published by Persistence Market Research for the estimated period of 8-years.
With a CAGR of 3.7%, this market is expected to witness steady growth throughout the forecasted period. Slowdown in the global automotive production and increasing use of public transport to cut down the transportation cost are significant reasons behind the slow growth of the global market for automotive seats.
Key Companies-
Suitable for PLC
Faurecia SA
Lear Corporation
Toyota Boshoku Corporation
TS Tech Co., Ltd.
Magna International Inc.
Aisin Seiki Co., Ltd.
Tachi-S Co., Ltd.
NHK Spring Co., Ltd.
Guelph Manufacturing Group
Futuris Group
Global Automotive Seats Market: Restraints
Lowering hide production to act as restraint in the Europe automotive seats market
Adoption of Low-cost and Inferior Substitutes
Soaring government regulations and rules are acting as hurdles for the manufacturers
Slowdown in the Global Automotive Production
Increasing use of public transport to cut down the transportation cost
Global Automotive Seats Market: Segmental Analysis and Forecast
The market is segmented into product type, vehicle type, cover material, by technology, and by sales channel. Product type segment include bench and bucket.
Sales of Bucket segment Seats segment is estimated to be valued at US$ 35.46 Bn in 2017 and is slated to reach US$ 48. 82 Bn by 2025.
On the basis of vehicle type, the market is segmented into passenger cars, LCV (Light Commercial Vehicles) and HCV (Heavy Commercial Vehicles). The Passenger Car market segment is estimated to dominate the global automotive Seats market with a 75.1% market value share, valued at US$ 41. 57 Bn by 2017 end; expanding at a CAGR of 4.1% over the forecast period of 2017-2025. This segment is expected to create a total incremental opportunity of US$ 15.71 Bn between 2017 and 2025. The segment is anticipated to reach a market value of US$ 57.28 Bn by 2025 end, in the global automotive seats market.
Cover Material segment consists of genuine leather, synthetic leather and fabric material.
The Fabric Material segment by cover material is estimated to dominate the global automotive seats market with a 63.6% market value share, valued at US$ 35,205.1 Mn by 2017 end; expanding at a CAGR of 4.2% over the forecast period of 2017-2025. This segment is expected to create a total incremental opportunity of US$ 13.58 Bn between 2017 and 2025. The segment is anticipated to reach a market value of US$ 48.78 Bn by 2025 end, in the global automotive seats market.
Technology segment include standard, powered, heated and massage. By Technology, the powered segment is expected to be a relatively attractive segment in terms of market growth rate and market size with a market value share of 17.4% by the end of 2025.
By sales channel, the market is segmented into OEM (Original Equipment Manufacturer) and aftermarket. OEM segment is expected to create a total incremental opportunity of US$ 18,339.7 Mn between 2017 and 2025. Sales of OEM segment is estimated to be valued at US$ 71,360.6 Mn by 2025 end as compared to is US$ 53,020.9 Mn in 2017.
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Global Automotive Seats Market: Forecast by Region
The report covers five regions namely, North America, Latin America, Europe, APAC and MEA. Sales of Automotive Seats in North America is estimated to be valued at US$ 9889.3 Mn by the end of 2017 and is expected to reach US$ 12.45 Bn by the end of 2025, registering a
CAGR of 2.9% in terms of value over the forecast period. On the other hand APAC market is estimated to dominate the global automotive seats market with a 49.5% market value share, valued at US$ 27.36 Bn by 2017 end; expanding at a CAGR of 4.1% over the forecast period of 2017-2025.