Global Automotive Seats market is projected to garner earnings worth approximately 77.25 (USD Billion) by 2026 and CAGR of 3% over the period from 2020 to 2026.
Automotive Seats Market
The global Automotive seat market is projected to garner earnings worth approximately 77.25 (USD Billion) by 2026 and is set to record a CAGR of nearly 3% over the period from 2020 to 2026. The report offers an assessment and analysis of the Automotive seat market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Automotive seats provide comfortable seating for the vehicle drivers and passengers of the vehicles. The seats of the vehicle are of key significance as they contribute notably towards the comfort of the driver and favorably impact the driving. More prominently, these seats are designed keeping in view the angle of inclination of the knee, head, and thorax and as per the government recommendations. These seats are designed in a way that reduces the collision impact.
2017 and 2018
Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026
By Type, By Technology, By Trim Material, By Vehicle Type, and By Region
North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa
Humungous demand for security features, recovery in vehicle production, and a surge in the necessity of comfort as well as luxury will steer the market growth trends. An increase in sales of premium cars is set to enhance the demand for heated seats, thereby thrusting the expansion of the automotive seat industry. High preference for lightweight material & foam in the production of automotive seats along with the growing predisposition of vehicle manufacturers towards enhancement of fuel efficiency will steer the market demand over the forthcoming years.
Furthermore, the growing popularity of high-value seats integrated through smart systems for vehicle safety & comfort will embellish the growth rate of the automotive seat industry in the years ahead. Favorable government initiatives aiding foreign direct investments will escalate the industry surge over the years to come.
The Asia Pacific To Account Sizably Towards Global Market Size By 2026
The regional market growth during the forecast timeline is owing to a rise in the production of the passenger as well as commercial vehicles. In addition to this, South Korea and Japan have emerged as the new hubs producing automotive seats integrated with smart technology. Additionally, the surge in the disposable income of the end-users and a tilting inclination towards premium cars in these countries will further embellish the regional market trends.
Key players influencing the market growth are Tachi-S, TS Tech, Toyota Boshoku, NHK Spring, Magna International, Adient, Faurecia, Lear Corporation, and Gentherm.
The global automotive seat market is segmented as follows:
The key growth drivers that will steer the market growth include need for comfort and luxury for both drivers and passengers
The CAGR of the industry is expected to be nearly 3% during the forecast timespan.
Asia Pacific region will contribute remarkably towards the global market revenue over the estimated timeline.
The key market participants include NHK Spring, Adient, Faurecia, Lear Corporation, Magna International, Toyota Boshoku, Tachi-S, TS Tech, and Gentherm.