The automotive seats market achieved a valuation of US$ 53.33 Billion in 2022 and is projected to experience significant growth with a remarkable 3.6% Compound Annual Growth Rate (CAGR), reaching US$ 75.96 Billion between 2022 and 2032. Key factors contributing to this growth include the increasing sales of luxury vehicles in developing nations, a rising demand for climate-controlled seat technology, and a surge in the need for lightweight seat frames. The automotive seat market is also expected to benefit from the growing sales of passenger vehicles due to the improved lifestyles of middle-class families, higher disposable incomes, and an increased demand for advanced, feature-enabled seats.
The market expansion is further driven by technological advancements within the automotive industry. Innovations such as active health monitoring systems and seat heating technologies are anticipated to boost the demand for modular seats in vehicles, thereby accelerating the revenue growth of the automotive modular seat market throughout the forecast period. Additionally, the widespread adoption of modular seating to reduce vehicle interior weight, coupled with consumer preferences for smart and advanced features, is poised to contribute to the overall growth of the market.
Dynamic Competitive Landscape in the Automotive Seats Industry
Within the Automotive Seats Industry, key players are capitalizing on the surging demand for automotive seats across diverse applications. To expand their market presence, these players are strategically engaging in collaborations, partnerships, and acquisitions with entities of varying scales. Notable recent developments in the market include:
January 2022: Toyota Boshaku Corporation, a prominent Japanese automotive component manufacturer, unveiled seats featuring an electric retraction mechanism and advanced interior components for LEXUS NX. These seats boast improved cushioning, effectively distributing body pressure in the buttocks area to enhance overall comfort.
September 2021: Faurecia, a leading automotive supplier, joined forces with SSAB, a steel manufacturing and processing company, to pioneer new ultra-low CO2 seat structures. This innovation aligns with the global emphasis on sustainability, and Faurecia aims to conduct comprehensive testing and industrialization of these seats in response to the growing demand for eco-friendly solutions.
Prominent Automotive Seats Service Players
· Fisher and Company
· RECARO Automotive
· TM Automotive Seating Systems Private Limited
· Lear Corporation
· Tata Autocomp Systems Limited
· Faurecia
· Grammar Seating Systems
· Toyota Boshoku Corporation
· Johnson Controls
· Marter Automotive Seating Systems
· TS Tech Corporation Ltd.
· Aisin Seiki Co. Ltd.
· Tachi-S Co. Ltd.
· NHK Spring Co. Ltd.
· Guelph Manufacturing Group
· Futuris Group
These insights are based on a report on Automotive Seats Market by Fact.MR.