NEWARK, Del, March 05, 2024 (GLOBE NEWSWIRE) -- The automotive seating market is anticipated to be valued at US$ 71.48 billion by 2024. The market valuation is estimated to be US$ 102.8 billion by 2034, projected at a CAGR of 3.7%. The primary driver of the market is the increasing demand for comfort and safety features in vehicles. Consumers place high importance on the comfort of their driving experience, leading to a growing emphasis on ergonomic designs, adjustable features, and advanced materials in automotive seats. Stringent safety regulations worldwide continue to drive innovation in seating systems to enhance crash protection and occupant safety.
The market also faces challenges, including the rising cost of raw materials such as steel, foam, and fabric. Fluctuations in raw material prices can impact production costs and profit margins for automotive seating manufacturers. The complexity of integrating advanced technologies into seating systems poses technical challenges, requiring significant investments in research and development.
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Despite these challenges, the market presents several opportunities for growth and expansion. One such opportunity lies in the increasing adoption of electric and autonomous vehicles. As the automotive industry transitions towards electrification and autonomous driving technologies, there is a growing need for innovative seating solutions that optimize space, weight, and functionality to accommodate these new vehicle architectures.
The vehicle personalization and customization trend presents another opportunity for automotive seating manufacturers. Consumers seek customizable seating options to reflect their preferences and lifestyles, driving demand for premium features and luxury materials in automotive seats.
The growing focus on sustainability and environmental consciousness also opens opportunities for developing eco-friendly seating materials and manufacturing processes. Manufacturers can capitalize on this trend by offering seating solutions made from recycled materials, bio-based foams, and other sustainable alternatives.
Key Takeaways from the Market Study
- Under vehicle type, the passenger cars segment is registered to hold a market share of 77.2% in 2024.
- Canada is estimated to register at a CAGR of 3.1% by 2034.
- China experiences significant growth, projected at a CAGR of 4.6% by 2034.
- Based on the seat type, the split segment is accounted to hold a market share of 65.8% in 2024.
“The increasing demand for comfort and safety features in vehicles is one significant driver for the automotive seating market,” Says - Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
Regional players and niche manufacturers also contribute, offering specialized solutions. Companies compete through innovation, product quality, and sustainability efforts, meeting diverse consumer demands. Continuous advancements in safety, comfort, and efficiency drive competitiveness within the industry.
Key Companies Profiled
- 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.
Some of the key developments are:
- In October 2022, Toyota Boshoku Corporation, Aisin Corporation, and Shiroki Corporation unveiled an agreement to transfer two of Aisin's overseas manufacturing subsidiaries specializing in seat frame mechanisms to Toyota Boshoku.
- In September 2022, Uno Minda Limited entered a joint venture with TACHI-S Company Limited, a leading global manufacturer of seat systems. This partnership focuses on producing and marketing seat recliners for four-wheeled passenger vehicles in India.
Report Scope
| Attributes | Details | ||
| Estimated Market Size in 2024 | US$ 71.48 billion | ||
| Projected Market Valuation in 2034 | US$ 102.8 billion | ||
| Value-based CAGR 2024 to 2034 | 3.7% | ||
| Forecast Period | 2024 to 2034 | ||
| Historical Data Available for | 2019 to 2023 | ||
| Market Analysis | Value in US$ billion | ||
| Key Countries Profiled |
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Automotive Seating Market - Key Segments
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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Authored by
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI’s Extensive Ongoing Coverage in the Automotive Domain
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