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 are gaining rapid traction over the last few years, owing to the increasing demand for hybrid and electric vehicles across developing economies. The market’s growth can be primarily credited to the rapid growth of the automotive industry, bolstering the expansion of the automotive seating systems market.
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According to the findings of Future Market Insights, an unprecedented spike in the demand for automotive seating systems has been witnessed due to an increasing consumer preference for mobility-on-demand services, such as car and ride-sharing. Therefore, with the rising preference for sharing cars, the durability of the seats is likely to be the most crucial aspect.
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
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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