Market Overview

The automotive seats market is projected to grow at a CAGR of 2.51% during the forecast period, to reach a market size of USD 73.03 billion by 2025, from USD 61.41 billion in 2018

Share:

The automotive seats market is projected to grow at a CAGR of 2.51% during the forecast period, to reach a market size of USD 73.03 billion by 2025, from USD 61.41 billion in 2018

PR Newswire

NEW YORK, June 27, 2018 /PRNewswire/ -- The increase in vehicle production, especially in SUV/MPV and premium vehicles segments, and rising average time spent in traffic have spurred the demand for more comfortable and luxurious seats

Read the full report: https://www.reportlinker.com/p03250908

The automotive seats market is projected to grow at a CAGR of 2.51% during the forecast period, to reach a market size of USD 73.03 billion by 2025, from USD 61.41 billion in 2018. Increased sales of full-size SUV/MPV segment vehicles and premium vehicles are identified as the key drivers for this market. Alternatively, the high cost of the advanced and modular seats as compared with normal seats and keeping balance between low-cost production and customer-perceived value can hinder the growth of the market.

Genuine leather segment is projected to grow at the highest rate in the automotive seats market, by trim material, over the forecast period
The genuine leather trim material segment is estimated to be the fastest market, during the forecast period owing to the increased premium vehicles sales globally. As per MarketsandMarkets analysis, the global premium vehicle sales grew by 5.22% between 2015 and 2016. Developed regions such as North America, Europe, and a few Asian countries such as Japan and South Korea are key markets for these vehicles. Also, the penetration of E, F, and SUV–D & SUV-E segment cars in the US was nearly 45–48% in 2017. Similarly, in the UK, it was nearly 25–30% during the same period. Most of the vehicles from these segments have genuine leather seats as a standard feature. A few key models such as Mercedes E-Class, Lincoln Zephyr/MKZ, Range Rover Sport, Jaguar XF, Land Cruiser, and BMW 7 series feature genuine leather in the global market. The growing demand for premium vehicles across the world is ultimately leading the demand for the genuine leather market in the coming future.

Asia Oceania & MEA: The largest and fastest growing automotive seats market from 2018 to 2025
Asia Oceania is anticipated to be the largest market for automotive seats because of a dynamic change noticed in the automotive industry in the past few years; the region has also noticed a significant potential in the passenger and commercial vehicles production.As a result, Asia Oceania has been emerged as a hub for automobile production.

Further, Japan and South Korea have experienced a significant rise in advanced seats in the recent years, owing to the rising per capita income and shifting preference toward premium cars and presence of premium automotive OEMs. Along with passenger cars, commercial vehicles production also grew at a CAGR of 2.91% from 2012 to 2017 and is expected to grow gradually. These factors together are expected to drive the automotive seats market in the coming years as per MarketsandMarkets repository.
The MEA region is estimated to grow at the fastest rate for the automotive seats market.Iran and South Africa are key vehicle producing countries in this region.

As per MarketsandMarkets repository, Iran's passenger car production has increased from 0.86 million units in 2012 to 1.42 million units in 2017, whereas South Africa's car production has grown from 0.27 million units in 2012 to 0.32 million units in 2017. The shifting focus of automotive OEMs toward emerging countries is likely to fuel the vehicle production in these countries that will ultimately result in a growing demand for automotive seats in the future.

BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from equipment manufacturers, shipping authorities, and distributors.

The breakup of the primaries is as follows:
• By Company Type: Seat manufacturers – 52%, Seating Component Suppliers – 26%, and OEMs – 22%
• By Designation: C-level – 55%, D-Level – 38%, and Others –7%
• By Region: North America – 42%, Europe – 37%, and Asia Oceania – 21%

The report provides detailed profiles of the following companies:
• Adient (US)
• Lear Corporation (US)
• Faurecia (France)
• Toyota Boshoku (Japan)
• Magna International (Canada)
• TS Tech (Japan)
• Aisin Seiki (Japan)
• NHK Spring (Japan)
• Tachi-S (Japan)
• Gentherm (US)

Research Coverage
The primary objective of the study is to define, describe, and forecast the automotive seats market by technology, seat type, trim material, components, IC vehicle type, electric & hybrid vehicle type, and region.It analyzes the opportunities offered by various segments of the market to the stakeholders.

It tracks and analyzes competitive developments such as market share analysis, expansions, joint ventures, acquisitions, and other industry activities carried out by key industry participants.

Reasons for buying the report
• The study provides qualitative and quantitative analysis of the automotive seats market, by technology, in terms of volume at country and regional levels.
• The study analyzes the electric & hybrid vehicles seat market, by technology, in terms of volume (thousand units).
• The study also provides qualitative and quantitative analyses of the automotive seat type segment represented in terms of volume (thousand units) and value (USD million), including all other segments, except the trim material, in terms of volume (thousand square meters) and value (USD million).
• The key 10 companies, which have a significant impact on the market, are profiled along with their financial structure, recent developments, and product portfolio.
• The report covers the competitive landscape, which reflects the market share analysis of leading players along with the dominant strategy adopted by these stakeholders to retain their position.

Read the full report: https://www.reportlinker.com/p03250908

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

Cision View original content:http://www.prnewswire.com/news-releases/the-automotive-seats-market-is-projected-to-grow-at-a-cagr-of-2-51-during-the-forecast-period-to-reach-a-market-size-of-usd-73-03-billion-by-2025--from-usd-61-41-billion-in-2018--300673192.html

SOURCE Reportlinker

View Comments and Join the Discussion!