Increase in Demand for Premium and Luxury Vehicles to Fuel the Demand for Modular Seats

1. Automotive Seats Market worth 73.03 billion USD by 2025 The automotive seats market is projected to grow at a CAGR of 2.51% during the forecast period, to reach a market size of USD 73.03 billion by 2025 from USD 61.41 billion in 2018. The increasing global vehicle production, especially in Asia Oceania, and of SUV/MPV segment, and the rising sales of premium and luxury vehicles owing to the increase in demand for luxury and comfort are projected to fuel the demand for modular seating technologies. Browse through 111 market data tables and 40 figures spread across 171 pages and an in- depth TOC on “Automotive Seats Market”– Global Forecast to 2025” https://www.marketsandmarkets.com/Market-Reports/automotive-seat-market- 216812760.html Early buyers will receive 10% customization on reports. Light weighting is key trends to reduce vehicle weight, which will trigger the automotive seats market during the forecast period Light weighting is one of the key trends in the automotive industry to reduce the overall vehicle weight; the same also applies to automotive seats. As per Faurecia, the automotive seating system accounts for nearly 6% of the total vehicle weight and 5% of the total vehicle cost. According to an insight from an industry expert, the usage of materials such as magnesium, aluminum, HSS, and carbon fiber is likely to reduce the weight of seating systems by nearly 25–30%. Instead, the lighter seating systems can be equipped with additional technologies such as heated, ventilated, memory, and massage to offer advanced features. Hence, along with the growing premium vehicle sales, the demand for advanced seats is also likely to increase, bringing immense growth opportunities for this market in the coming future.

2. BEV segment is estimated to be the fastest growing Automotive Seats Market The BEV segment is estimated to grow at the fastest rate for the electric & hybrid vehicles seats market, by technology. The BEV segment has shown a significant rise in the global demand, especially in the Asia Oceania and European regions. China, Japan, South Korea from Asia Oceania and Germany, France, Norway, and the UK from Europe have higher demand for BEVs. According to MarketsandMarkets analysis, the BEV demand in these 2 regions are projected to grow at significant CAGRs of 14.53% and 22.54% between 2018 and 2025. As Japan, South Korea, and European countries have mostly colder climatic conditions, coupled with high technological adoption rate, the demand for seats with advanced technologies such as powered, heated, ventilated, and memory are expected to also grow, providing new business avenues to the advanced automotive seating manufacturers. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=216812760 Asia Oceania: The largest region for Automotive Seats Market The study estimates the Asia Oceania region as the largest market for automotive seats during the forecast period. The region is the global leader in vehicle production, with a production growth of about 26.0%–28.0% in the past 5 years for the passenger cars and commercial vehicles segment. China has been the leading automotive market for vehicle production as well as sales in this region. According to OICA, China, along with Japan and India, accounted for almost 44% of the global vehicle production in 2016. Furthermore, as per the World Bank statistics, the per capita income in China and India increased by approximately 68% and 14%, respectively, from 2010 to 2015. The rise in disposable income is expected to increase the sales of premium vehicles, which, in turn, would increase the demand for seats accompanied with advanced technologies such as powered, heated, and ventilated in the region. Some prominent players of the automotive seats market are Adient (US), Lear Corporation (US), Faurecia (France), Toyota Boshoku (Japan), Magna International (Canada), TS Tech (Japan), Tachi-S (Japan), NHK Spring (Japan), and Gentherm (US).

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