The global automotive seating market is expected to surge at a stagnant CAGR of around 3.40% during the forecast period from 2022 to 2032. The growth in the market is expected to reach a valuation of US$ 52,941.6 Mn in 2022 and is anticipated to surge by an estimation of around US$ 73,960.9 Mn in 2032.
The most recent model developments are discussed in the car seating market in order to provide the driver and passenger with more comfort. Over time, seating has evolved from basic sitting systems to intricate works of art that enable manufacturers and consumers meet their needs. With the aid of automotive seating components, manufacturers have begun creating new layouts that will modify seating systems more than conventional seating systems now do.
It has been anticipated that the Asia Pacific region will demonstrate escalated growth rate in the market. Because manufacturers are actively establishing bases in emerging markets including India and China to take advantage of the nominal costs of labor there.
Due to the luxurious adjustments that are actively being incorporated into seating systems to ensure that customers have a peaceful experience while driving, the adoption of modern automobile seats is on the rise. As a result, it is predicted that the automotive seats market will have a steady yet sluggish growth throughout the course of the forecast period.
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https://www.futuremarketinsights.com/reports/automotive-seating-market
Key Takeaways
A drastic shift in consumer preferences has been observed over recent years since bigger cars have doubled the share of SUVs. They comprise a diverse range of seat combinations including bucket seats and second-row seats as bench or bucket (may or may not be split). On the basis of technological advancements, seats in full-size SUVs are fully powered, heated, and ventilated and could also use leather seats. Therefore, rising sales of SUVs are fueling the automotive seating market.
It has been observed that government all over the world is taking active participation and role in making ways for Foreign Direct Investments supporting the automotive seating market. Due to the aforementioned factors, the global automotive seating market is expected to grow within the upcoming years.
Future Market Insights has recently observed customer inclination for luxurious seating systems. Manufacturers are taking efforts in research and development activities to make products luxurious and emphasizing safety concerns.
The automotive industry is increasing its focus on the development of advanced driver assistance technologies, with the major objective of developing and introducing a fully automated driving experience. There has been a reasonable surge in consumer preference for mobility-on-demand services, creating lucrative opportunities in the automotive seating market.
With a surging preference for care sharing, the durability of seats will be a vital element to consider. These days different people commute in the same car at the same time, and privacy will be considered a crucial aspect that is resulting in pushing the manufacturers to innovate and acquire compelling products for end-users.
Competitive Landscape
The prominent market players are making continuous innovations and indulging in several mergers and acquisitions in order to curate convenient seating solutions for the end-users. They are possessing compelling products that efficiently abide by consumer preference for further increasing demand in the global automotive seating market.
Key companies proliferating in the automotive seating market are:
Fisher and Company
RECARO Automotive
Faurecia
Grammar Seating Systems
Johnson Controls
TM Automotive Seating Systems Private Limited
Lear Corporation
Tata Autocomp Systems Limited
Toyota Boshoku Corporation
Marter Automotive Seating Systems
TS Tech Corporation Ltd.
Key Segments In The Automotive Seating Market
By Seat Type:
Split seat
Bench seat
Split Bench seat
By Vehicle Type:
PCV (Passenger Commercial Vehicles)
LCV (Light Commercial Vehicles)
HCV (Heavy Commercial Vehicles)
By Distribution Channel:
OEM
Aftermarket