Global Automotive Seats Market Is Expected To Rise From USD 52 Billion In 2020 To USD 62 Billion By 2027.

The global size of the automotive seats market is expected to rise from USD 52 billion in 2020 to USD 62 billion by 2027, at a CAGR of 3.3%. The automotive demand and the growing trend of high-value seating with embedded smart technology for advanced vehicle comfort and safety are the key drivers of growth for this sector.

The development of the market for automobile seats is motivated by an increase in luxury car purchases in developed countries, an increase in the demand for climate-controlled seat technologies and an increase in the need for lightweight seat frames. In addition, factors such as the rise in sales of passenger vehicles due to the improved lifestyle of middle-class families coupled with an increase in disposable income and an increase in demand for features allowed advance seats to boost the growth of the market for automotive seats market.

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This increase in demand for passenger cars has contributed to a rise in the production of vehicles and a resulting increase in demand for related parts, such as upholstery, seats, etc. In addition, in contrast to hatchbacks and sedans, the industry is seeing a market demand for SUVs and MPVs that typically have more seats. Overall, the rising demand for passenger cars serves as a big catalyst for the market for automobile seats.

In May 2020, most OEMs resumed production of vehicles amid the detrimental effects of the COVID-19 pandemic. Volkswagen, Nissan, Hyundai, and Honda, for example, reopened their plants in China; production in the US was restarted by FCA, Honda, and Toyota. Production has also resumed, to a small degree, in Europe. Global vehicle demand is projected to rise at a CAGR of 3.3 percent from 2021 to 2027, given these factors. This rise in the production of automobiles would lead to a directly proportional increase in seat demand.

With the aim of designing and introducing a truly autonomous driving experience, the automobile industry is increasing its focus on the advancement of innovative driver assistance technologies. Consumer expectations for mobility-on-demand technologies, such as vehicle sharing and ride sharing, have also risen.

In order to satisfy the burgeoning market desire for personalization in cars, OEMs are gradually changing their manufacturing processes. The prevalent trend is expected to emerge as a major obstacle for manufacturers of automotive seats who are searching for ways to fulfil demands while preserving cost-effectiveness.

Key Market Players

• Adient

• Lear Corporation

• Faurecia

• Toyota Boshoku

• Magna International

Source: VynZ Research