Impact of Advanced Materials on the Automotive Seat Market
Impact of Advanced Materials on the Automotive Seat Market
Blog Article
The automotive seat market has seen steady growth over the years owing to rising vehicle production across the globe. Automotive seats provide comfort and safety to vehicle occupants making them an integral component in vehicle design. Seat structures are engineered to dynamically support the occupant during acceleration, braking and turns. Seating materials and ergonomic designs have also evolved to offer plush riding experience.
The automotive seat market is estimated to be valued at USD 94.13 Bn in 2024 and is expected to reach USD 123.20 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 3.92% from 2024 to 2031.
Key players operating in the automotive seat market include Adient, Lear Corporation, Toyota Boshoku, Magna International and Faurecia.
Growing demand: Demand for Automotive Seat Market is driven by increasing vehicle production worldwide as automakers expand their manufacturing footprint. Asia Pacific region accounts for over 50% of global vehicle production creating sustained opportunity.
Technological advancement: Seat manufacturers are focusing on developing lightweight and ergonomic seats integrated with advanced technologies. Features like massage function, heating/cooling, memory presets and powered adjustability are gaining popularity.
Market Trends
Integrated tech seats: Seating integrated with infotainment, navigation and active safety systems are a key trend. Tech-enabled seats offer enhanced convenience, connectivity and optimized in-vehicle experience.
Sustainability focus: OEMs and tier-1 suppliers are prioritizing use of eco-friendly, recycled and bio-based materials in seating production. Lightweighting and design optimization also help reduce environmental impact.
Market Opportunities
Electric vehicles: Growing EV adoption brings opportunities for seating tailored to electric platforms with noise and vibration reduction features. Massage and temperature controlled seats can enhance long distance riding comfort.
Mobility services: On-demand mobility business models require fleet vehicles suited for high utilization with easily cleanable, durable and customizable seating configurations.
Impact of COVID-19 on Automotive Seat Market
The COVID-19 pandemic has severely impacted the global automotive seat market. Automotive sales plummeted in 2020 as nationwide lockdowns were enforced to curb the spread of the virus. Production facilities across major automobile manufacturing hubs were temporarily shut down leading to disruptions in the automotive seat supply chain. Demand from OEMs dried up considerably during this period affecting seat manufacturers. The work from home model adopted by many further weakened demand from commercial fleet operators.
However, the post pandemic recovery has been swift. Pent up demand, growing preference for personal mobility and resurgent economic activities have boosted automotive sales globally in 2021. This has positively rubbed off on the automotive seat market as well. Original equipment manufacturers are ramping up production to cater to strong order books. Seat manufacturers also scaled up operations and undertook initiatives to optimize costs and streamline supply chains.
Geography Wise Concentration and Fastest Growing Region
In terms of value, the North American region accounts for the major share of the global automotive seat market led by strong demand from the domestic US market. However, the Asia Pacific region has been witnessing rapid growth over the past few years and is emerging as the fastest growing market globally for automotive seats. China, with its huge automotive industry is at the helm driving the Asia Pacific market upward. Other high growth nations include India and Indonesia.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)