Market Trends of Automotive Ventilated Seats Industry
This section covers the major market trends shaping the Automotive Ventilated Seats Market according to our research experts:
Passenger Car Segment To Exhibit A High Growth Rate
The improving lifestyles and economy are leading to customer preference changes across the globe. With increasing power purchase parity and disposable income, raising brand awareness, and competition between OEMs to offer improved features the automotive ventilated seats market is expected to grow during the forecasted period.
Increasing average drive time spent in the vehicles leading to demand for comfort seats. This will propel the demand for enhanced seating system. Thus, with growing average time spent and stringency in regulations, the demand for comfortable automotive seating system would also increase. Automotive industry is heavily investing on developing advanced technologies to reduce overall vehicular weight to meet stringent regulations for emission and fuel efficiency. This would also promote investment into seating technology to develop light weight ventilated seating systems.
- In April 2022, Maruti Suzuki has launched MPV XL6, XL6 is the first car of Maruti Suzuki which comes with all new ventilated seat for driver and front passenger.
- Mercedes introduced an innovative, multi-contour seat with an air bladder that gets inflated and deflated automatically, according to the posture of the person. The use of seats as a source of ventilation is another advancement in seating systems, which has a potential to occupy a major share in the market studied, in the future.
OEMs are also looking to strike the perfect balance between low production costs and providing more features. Increasing complexity of advanced seating assembly, such as incorporation of new technologies (heating, cooling, massage and memory) for better comfort and safety and usage of light weight components to achieve emission and fuel economy norms, the seating manufacturers are investing into R&D.
Asia-Pacific Region Anticipated to Grow at Significant Level During the Forecast Period
Asia-Pacific region is expected to hold a notable share in the market during the forecast period owing to rising demand from key markets like India, China, Japan, and others. Though sales of vehicles witnessed a decline due to pandemic over the recent years, owing to the low production costs in the country, the demand for vehicle production has gone up drastically, and vehicle production witnessed positive growth. For instance,
- According to the China Association of Automobile Manufacturers (CAAM), Overall vehicle production in December 2021 totaled 2.907 million units, reflecting a 2.4% y/y increase, while sales totaled 2.786 million units, reflecting a 1.6% y/y decrease. In 2021, around 40,2000 commercial vehicles and 1614000 passenger cars were exported from China. Since a few years back, China has been the world's largest car production country.
Moreover, the Chinese government has also cut down the taxes on cars to increase car sales. China is also one of the largest exporters of cars and automotive components. The trend of increasing car production in this region is expected to boost market growth. Further, the automotive exports in the region are heavily influenced by the global economy and environmental regulations.
Ventilated seats are common in luxury cars and high-end cars. However, automobile manufacturers are increasingly focusing on offering ventilated seats in mid-segment and entry-level vehicles as well. For instance, Ford Motor offers a mid-sized sedan with ventilated seats, Hyundai Motor offers a sedan that comes with standard ventilated seats for both driver and front-seat occupant, and Chevrolet Malibu has ventilated seats. Thus, a growing number of automobile manufacturers offering ventilated seats in mid-segment and entry-level cars is expected to propel growth in the Asia-Pacific region.
