The global automotive seating market is expected to surge at a stagnant CAGR of around 3.40% during the forecast period from 2022 to 2032. The growth in the market is expected to reach a valuation of US$ 52,941.6 Million in 2022 and is anticipated to surge by an estimation of around US$ 73,960.9 Million in 2032.
The most recent model developments are discussed in the automotive seating industry in order to provide the driver and passenger with greater comfort. Over time, seating has evolved from basic seating systems to intricate works of art that help manufacturers and customers meet their needs. With the aid of automotive seating components, manufacturers have begun creating novel layouts that will modify seating systems more than conventional seating systems currently do.
It has been predicted that the Asia Pacific region's market development rate will accelerate. because businesses are aggressively establishing bases in emerging markets like China and India to benefit from the low labour expenses there. Due to the luxurious adjustments that are constantly being incorporated into seating systems to ensure that customers have a relaxing experience while travelling, the adoption of advanced automotive seats is on the rise. As a result, it is expected that the automotive seating market will experience a steady yet slow growth over the course of the forecast period.
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Key Takeaways
Competitive Landscape
The prominent market players are making continuous innovations and indulging in several mergers and acquisitions in order to curate convenient seating solutions for the end-users. They are possessing compelling products that efficiently abide by consumer preference for further increasing demand in the global automotive seating market.
Key companies proliferating in the automotive seating market are:
Fisher and Company, RECARO Automotive, Faurecia, Grammar Seating Systems, Johnson Controls, TM Automotive Seating Systems Private Limited, Lear Corporation, Tata Autocomp Systems Limited, Toyota Boshoku Corporation, Marter Automotive Seating Systems, TS Tech Corporation Ltd.
Key Segments In The Automotive Seating Market
By Seat Type:
By Vehicle Type:
By Distribution Channel:
More Insights into the Automotive Seating Market
North America is anticipated to dominate the global automotive seating market by accounting for the maximum share of the global landscape. This region is expected to grow at a steady pace cumulating around 20.0% of the total market share of the automotive seating market.
The growth in the region is attributed to the increasing demand for hybrid and electric vehicle motor. Moreover, emerging trends in automotive seating systems and growing vehicle production with legitimate government grants to carry forward research and development activities to further propel growth is fueling the market growth.
Europe is projected to account for the highest share of the automotive seating market and dominate the global forum throughout the assessment period. Currently, the European region is accountable for a 25.0% share of the automotive seating market size. The region comprises the highest production capacity for commercial and passenger vehicles, causing the demand for installing seats with advanced technology, which boosts the regional market's growth.