Global automotive seats market stood at $ 84333.40 million in 2018 and is anticipated to grow at a CAGR of around 4% to reach $ 105969.10 million by 2024
NEW YORK, Aug. 27, 2019 /PRNewswire/ --
Global Automotive Seats Market By Technology (Standard, Powered & Heated and Massage), By Vehicle Type (Passenger Car & Commercial Vehicle), By Material (Fabric, Genuine Leather & Synthetic Leather), By Distribution Channel (OEM & Aftermarket), By Region, Competition, Forecast & Opportunities, 2024
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Global automotive seats market stood at $ 84333.40 million in 2018 and is anticipated to grow at a CAGR of around 4% to reach $ 105969.10 million by 2024 on account of surging demand for comfortable and luxurious seating features. Moreover, growing need for lighter vehicles with higher efficiency would further fuel investments in developing ultra-light luxurious seating features. Additionally, rising per capita income and changing lifestyle of people has led to increase in demand for passenger vehicles globally. Booming automotive industry is further expected to positively influence the growth of global automotive seats market during forecast period.
Global automotive seats market can be segmented based on technology, vehicle type, material and distribution channel.Based on the vehicle type, the market can be classified into passenger car and commercial vehicle.
Passenger car segment dominates the market and the trend is likely to continue during forecast period as well, on account of rising consumer purchasing power in the emerging economies and increasing demand for SUVs and luxury vehicles.Different technologies used in the automobile seats include powered & heated, massage, standard and others.
Of all, powered & heated segment is likely to grow at the fastest rate on account of rising adoption in countries with colder climatic conditions.
Regionally, the market for automotive seats is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa.Asia-Pacific is leading global automotive seats market owing to increasing vehicle production and sales in economies such as China and India.
Moreover, increasing disposable income and technological advancements are further anticipated to positively influence the growth of automotive seats market in the region.
The major players operating in global automotive seats market include Adient Plc., Lear Corporation, Faurecia Services Groupe Sasu, Magna International Inc., Johnson Controls Inc., Aisin Seiki co. Ltd, Toyota Boshoku Corporation, NHK Spring Co. Ltd., Faurecia SA, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Faurecia SA introduced concept of Active Wellness, which uses sensors and cameras to collect data on driver's physical condition and then adjust the seats on its own.
Years considered for this report:
Historical Years: 2014-2017Base Year: 2018Estimated Year: 2019Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast the market size of global automotive seats market.• To classify and forecast global automotive seats market based on vehicle type, technology, material, distribution channel, and regional distribution.• To identify drivers and challenges for global automotive seats market.• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive seats market.• To conduct pricing analysis for global automotive seats market.• To identify and analyze the profile of leading players operating in global automotive seats market.Some of the leading players in the global Automotive Seats market are Johnson Controls Inc., Lear Corporation, Aisin Seiki co. Ltd, Magna International, Toyota Boshoku Corporation, NHK Spring Co. Ltd., Adient Plc, Faurecia SA, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated the market size of global automotive seats market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Automotive OEMs• Manufacturers of automotive seats and components• Raw material suppliers• Research organizations and consulting companies• Government bodies such as regulating authorities and policy makers• Organizations, forums and alliances related to automotive seatsThe study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global automotive seats market has been segmented into following categories, in addition to the industry trends which have also been detailed below:• Market, By Technology:o Standardo Powered & Heatedo Massage• Market, By Vehicle Type:o Passenger Caro Commercial Vehicle• Market, By Material:o Fabrico Synthetic Leathero Genuine Leather• Market, By Distribution Channel:o OEMo Aftermarket• Market, By Region:o Asia PacificChinaJapanIndiaSouth KoreaIndonesiao EuropeGermanySpainFranceRussiaUnited KingdomTurkeyItalyo North AmericaUnited StatesMexicoCanadao South AmericaBrazilArgentinaColombiao Middle East & AfricaIranSouth Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive seats market.
Available Customizations:
With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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