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$ 65,462.4 Million in 2022. The market value of automotive seating systems is anticipated to reach a high of US$ 88,833.9 Million by the year 2032.
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.
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Due to the rising demand for hybrid and electric vehicles in developing economies, automotive seating systems have recently gained significant ground. The market’s rise has been largely attributed to the automotive industry’s explosive growth, which has supported the market growth for car seating systems.
Increasing customer preference for mobility-on-demand services, such as vehicle and ride-sharing, has led to an unprecedented increase in demand for automotive seating systems, according to Future Market Insights’ findings. As a result, given the growing popularity of car sharing, the seats’ durability is probably the most important consideration.
The knowledgeable analysts at FMI believe that heated, powered, and ventilated modular seats will become more widely available and employed in most mid-range vehicles in the near future. The expensive price of car seating systems, however, prevents them from being widely used and is probably going to slow the market’s expansion in the upcoming years.
According to FMI’s analysis, the market for automotive seating systems is being driven primarily by growing safety concerns, improving fuel efficiency by creating lightweight automobile designs, and a growth in demand for premium vehicles. As a result, the market for automobile seating systems is anticipated to increase significantly during the given decade.
“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.
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
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