According to a report by Future Market Insights (FMI), the global automotive seating systems industry is projected to grow at a modest compound annual growth rate (CAGR) of 3.10% during the forecast period. As of 2022, the market is valued at approximately USD 65,462.4 Million and is expected to reach around USD 88,833.9 Million by 2032.
The growth in the automotive seating systems market has been driven by several factors, including the rising demand for hybrid and electric vehicles, especially in developing economies. This surge in demand is largely attributed to the overall expansion of the automotive industry, which in turn is boosting the automotive seating systems sector.
Recent trends indicate a significant increase in demand for automotive seating systems due to the growing popularity of mobility-on-demand services, such as car-sharing and ride-sharing. With the rise in shared vehicle use, there is a heightened focus on the durability and quality of seats.
FMI experts note that modular seating options, including heated, powered, and ventilated seats, are becoming more prevalent in mid-range vehicles. Despite this trend, the high cost of automotive seating systems poses a challenge, potentially limiting market growth.
The market is also being driven by increasing safety concerns, efforts to enhance fuel efficiency through lightweight automotive designs, and a growing demand for premium vehicles. These factors are expected to contribute to notable growth in the automotive seating systems market over the forecast period.
Key Takeaways from the Automotive Seating Systems Industry
- 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
Competition Landscape in the Automotive Seating Systems Industry
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 Industry:
- 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.
Comprehensive Market Insights: Full Report Overview
Key Segmentations
By Vehicle Type:
- Automotive Seating Systems for Passenger Cars
- Automotive Seating Systems for Light Commercial Vehicles
- Automotive Seating Systems for Heavy Commercial Vehicles
By Seat Type:
- Automotive Split Seat Systems
- Automotive Bench Seat Systems
- Automotive Split Bench Seat Systems
By Distribution Channel:
- Automotive Seating System Sales via OEM
- Automotive Seating System Sales via Aftermarket
By Technology:
- Heated Automotive Seating Systems
- Powered Automotive Seating Systems
- Powered & Heated Automotive Seating Systems
- Standard Type Automotive Seating Systems
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, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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