Market Trends of Automotive Advanced Seating System Industry
Luxury Cars Driving the Growth in the Market
- The advanced seating systems market is majorly driven by demand for luxury cars, as these features are likely to increase the cost of vehicles and hence not preferred by economy or mid-level car owners.
- Significant growth of tangible luxury offerings in vehicles, shifting consumer preferences from sedans to SUVs, and increasing disposable incomes of consumers have been propelling the demand for luxury cars worldwide.
- For instance, in 2022, the BMW Group sold nearly 2.4 million passenger vehicles globally. In the fourth quarter, the Group reported significant sales growth of 10.6%, with 651,798 vehicles delivered to customers. Daimler, the parent company of Mercedes, recorded a sales figure of 2.0 million Mercedes-Benz luxury cars in 2022. Furthermore, Rolls-Royce achieved its highest-ever annual sales in 2022, delivering a total of 6,021 motor cars, up 8% in 2021.
- These premium car manufacturers offer advanced features for their customers to enhance the customer experience, comfort, and, most important safety of the riders. For instance, in July 2022, Bentley Motors installed their most advanced seat, "the Airline Seat," in their Bentayga EWB. The company claims that the Airline Seat Specification includes world-first auto climate sensing and advanced postural adjustment systems.
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Europe is Expected to be the Largest Market
- The Europe region is expected to grow with the highest compound annual growth rate (CAGR) for the automotive advanced seating system market. The growth in the Europe region can be attributed to the presence of many premium vehicle original equipment manufacturers (OEMs) in the region and their spending on new technology, comfort, and safety-related components in the vehicle to enhance the experience of their end users to increase the demand.
- For instance, in June 2022, Grammer AG (Grammer) announced the establishment of the Ergolab at its headquarters in Ursensollen, Germany, to produce ergonomic and comfortable seats. Team members at the Ergolab work on research and pre-development projects, as well as rigorous comfort and ergonomic testing on prototype and series production seats and components.
- The demand for premium vehicles is also forcing OEMs to enhance the user experience and safety of the end-users in the region. These seats incorporate various features and functionalities to enhance comfort, safety, and convenience for occupants.
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