As per the report published by FMI, the global automotive seating systems market is projected to have a slow-paced CAGR of 3.10% during the forecast period. The current valuation of the market is US$ 65.4 Billion in 2022. The market value of automotive seating systems is anticipated to reach a high of US$ 88.8 Billion by the year 2032.
Automotive seating systems have grown in popularity in recent years, owing to rising demand for hybrid and electric vehicles in developing nations. The market’s expansion may be attributed mostly to the rapid growth of the automotive sector, which has aided the expansion of the automotive seating systems market.
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According to Future Market Insights, an extraordinary surge in demand for automotive seating systems has occurred as a result of rising customer preference for mobility-on-demand services such as automobile and ride-sharing. As a result, with the growing popularity of carpooling, the longevity of the seats is going to be the most important factor.
It is anticipated by the expert analysts at FMI that modular seats such as heated, powered, and ventilated applications are now getting more commercialized and are being increasingly used in most mid-end automotive. However, the high cost of automotive seating systems limits their penetration and is likely to curb the growth of the market in the coming years.
FMI has analyzed that rising safety concerns, strengthening fuel efficiency by manufacturing lightweight automotive designs, and a rise in demand for premium vehicles are majorly contributing to the propulsion of the automotive seating system market. Therefore, the automotive seating systems market is likely to have significant growth over the forecast period.
Key Takeaways from the Automotive Seating Systems Market
- Europe is projected to dominate the global automotive seating systems market with a total of 25% market share during 2022-2032.
- The automotive seating systems market in the European region is anticipated to advance at a CAGR of 5.5% during the forecast period.
- North America is accounting for 19% market share for automotive seating systems in the global market in 2022.
- The North American market for automotive seating systems is assumed to grow at a CAGR of 1.7% between 2022 and 2032.
- A historical CAGR of 2.10% has been witnessed in the automotive seating systems market during the period 2016-2021.
“The broad spectrum of vehicles with a confluence of growing concern for safety features is rising the demand for intelligent seating systems with superior comfort and ergonomics.” – Says an FMI Analyst
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Competition Landscape in the Automotive Seating Systems Market
The key players in the automotive seating systems market are growing research and development activities to launch innovative products and are penetrating lucrative growth opportunities in the forum.
Furthermore, several leading players are incorporating automotive seats with smart sensors, air moving devices, high-power-density heaters, and convective heaters, which is leading to the creation of more compelling products and capitalization upon new technologies.
Johnson Controls Inc., Faurecia SA, Marter Automotive Seating Systems, Toyota Boshoku Corporation, Lear Corporation, Magna International Inc., and IFB Automotive are some of the key players in the market.
Recent Developments in the Automotive Seating Systems Market:
- In May 2021, Toyota Boshoku introduced a cabin space that offers multimodal sensory stimulation during autonomous driving to reinvigorate its occupants with a short nap and comfortably awaken them.
- In July 2020, Faurecia officially launched its new seating joint venture with BAIC with four plants in Beijing, Chongqing, Huanghua, and Xiangtan.
- In 2019, Lear Corporation acquired Israel-based EXO Technologies, a leading developer of differentiated GPS technology that provides high-accuracy positioning solutions for autonomous and connected vehicle applications.
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Key Segments of Automotive Seating Systems Industry Survey
Automotive Seating Systems Market by Vehicle Type:
- Automotive Seating Systems for Passenger Cars
- Automotive Seating Systems for Light Commercial Vehicles
- Automotive Seating Systems for Heavy Commercial Vehicles
Automotive Seating Systems Market by Seat Type:
- Automotive Split Seat Systems
- Automotive Bench Seat Systems
- Automotive Split Bench Seat Systems
Automotive Seating Systems Market by Distribution Channel:
- Automotive Seating System Sales via OEM
- Automotive Seating System Sales via Aftermarket
Automotive Seating Systems Market by Technology:
- Heated Automotive Seating Systems
- Powered Automotive Seating Systems
- Powered & Heated Automotive Seating Systems
- Standard Type Automotive Seating Systems
Automotive Seating Systems Market by Region:
- North America Automotive Seating Systems Market
- Latin America Automotive Seating Systems Market
- Europe Automotive Seating Systems Market
- East Asia Automotive Seating Systems Market
- South Asia Automotive Seating Systems Market
- Oceania Automotive Seating Systems Market
- Middle East & Africa Automotive Seating Systems Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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