Automotive Seat Market - Growth, Trends, And Forecast (2019 - 2024)

The Automotive Seat Market is segmented by Material (Leather, Fabric, and Other Materials), Technology (Standard Seats, Powered Seats, Ventilated Seats, and Other Seats), and Geography.

Market Snapshot

North America recreational vehicle market
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

  • The automotive seat market is anticipated to register a CAGR of about 5.37% during the forecast period (2019 – 2024).
  • Increasing passenger comfort has become one of the most important considerations in the passenger car market and seats are of much significance in this aspect. Seats should take as little space as possible and provide the maximum level of comfort. As a result, consistent development is taking place in this regard.
  • Automotive manufacturers consider weight as one of the most important factors while manufacturing a vehicle. Some manufacturers, such as Land Rover, have started making automobiles solely out of light materials, like aluminum, to cut down on weight.
  • In order to further reduce the vehicle’s weight, automotive manufacturers are continuously exploring lightweight designs for seats. Carbon fiber is emerging as a strong candidate for lighter seats, but its high cost is impeding the progress.
  • Due to intense competitive rivalry and margin pressure in the market, manufacturers are actively setting up bases in the emerging markets to take advantage of the low labor costs. This trend may change the dynamics of the industry in the long run, and seat manufacturers may have to start setting up facilities in these emerging markets to stay competitive.
  • The powered seat and ventilated seat segments are expected to record high CAGR, on account of the rising sales of luxury vehicles and the increasing adoption of such seats in the mid-segment cars.
  • The Asia-Pacific region is the biggest market, and is also predicted to show the highest growth rate among all regions.

Scope of the Report

The automotive seat market has been segmented by material, technology, and geography.

This study focuses on the automotive seats in the global market, especially in North America, Europe, Asia-Pacific, South Africa, Brazil, and the Rest of the World.

 

By Material
Leather
Fabric
Other Materials
By Technology
Standard Seats
Powered Seats
Ventilated Seats
Other Seats
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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Key Market Trends

Increase in Production of Automobiles

Sales of passenger cars have been increasing across the world. In 2017, the global passenger cars production accounted for 97,302,534 units. China has the largest share in the passenger car market, followed by the United States, Japan, Germany, South Korea, and India. Improving road infrastructure and rising disposable income of the middle-class consumers are driving the passenger car market in the developing countries. Competitive pricing of vehicles by automotive manufacturers has also created a huge demand for passenger cars in developing countries.

This rise in demand for passenger cars resulted in a rise in automobile production and the subsequent growth in the demand for related components, like upholstery, seats, etc. Additionally, the industry is witnessing a consumer preference toward SUVs and MPVs that generally have more seats, as compared to hatchbacks and sedans. Overall, the growing passenger car market is acting as a major driver for the automotive seat market.

Additionally, the demand for commercial vehicles has been continually increasing, owing to the growing e-commerce (resulting in growth in the logistics industry), construction, and mining industries. According to Eurostat, over 75% of inland cargo transports within the EU, i.e., about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European countries, this rate goes as high as 90%, or more. As the e-commerce industry continues to grow across Europe, the demand for a more advanced distribution network is increasing. In 2017, freight transportation (between 50 km and 1,999 km) accounted for 89.1% of the total freight transportation, and as the market continues to expand, the demand for pick-up vans, small trucks, and other LCVs is also likely to increase. Thus, the rising demand for commercial vehicles is also expected to aid in propelling the growth of the automotive seat market.

 

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Fluctuating Raw Material Prices

The volatility in prices of raw materials has always been a concern, which may increase the cost of seat manufacturing. Seat manufacturing is one of the most productive and economic processes that use high-quality leather, fabric, or foam, along with metal frames.

Usage of metals, like aluminum alloys and steel alloys, and seat materials, like fabric, leather, and foam, as raw materials always involve the risk of price instability from the parent metal commodity and upholstery material markets. Fluctuations in the global economy, due to factors, such as Brexit and US-China trade war, along with influx in exchange rates make the cost of raw materials volatile. Additionally, market speculation and insights provided by industry players also play a pivotal role in determining the aluminum and steel prices, along with those of leather, fabric, and foam, which in turn, affect the seating industry.

 

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Competitive Landscape

The automotive seat market is majorly held by a few players, who have a long-standing partnership with the major OEMs and are their preferred suppliers for seats. The top-five players held almost 75% of the market, as of 2018. The major players in this market, which is worth over USD 65 billion, are Adient, Lear, Faurecia, Toyota Boshoku, and Magna. Adient is the largest player with a market share of around 33%.

Major Players

  1. Adient
  2. Lear Corporation
  3. Faurecia
  4. Toyota Boshoku
  5. Magna International

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material

      1. 5.1.1 Leather

      2. 5.1.2 Fabric

      3. 5.1.3 Other Materials

    2. 5.2 By Technology

      1. 5.2.1 Standard Seats

      2. 5.2.2 Powered Seats

      3. 5.2.3 Ventilated Seats

      4. 5.2.4 Other Seats

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 South America

        2. 5.3.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles

      1. 6.2.1 Adient PLC

      2. 6.2.2 Lear Corp.

      3. 6.2.3 Faurecia

      4. 6.2.4 Toyota Boshoku Corp.

      5. 6.2.5 Magna International

      6. 6.2.6 Aisin Seiki Co. Ltd

      7. 6.2.7 NHK Springs Corp.

      8. 6.2.8 Grupo Antolin

      9. 6.2.9 Recaro

      10. 6.2.10 TS Tech

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

**Subject to Availability

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