Automotive Seat Market Highlights:
The automotive seat industry is expected to experience tremendous growth opportunities over the forecast period with the introduction of TDI Low-VOC foam in vehicle seats and the development of light weight seats.
The global Automotive Seat market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Seat market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2023).
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Key players in Automotive Seat market mentioned:
Johnson Controls (U.S.), Lear Corporation (U.S.), Faurecia (France), Toyota Boshoku Corporation (Japan), TS Tech Co. Ltd (Japan), IFB Automotive (India), Magna International Inc. (Canada), DURA Automotive Systems (U.S.), Aktis Engineering Solutions (India), Fisher and Company (Austria), Tata Autocomp Systems Limited (India), Marter Automotive Seating Systems (Turkey), Grammer Seating Systems (Germany), TM Automotive Seating Systems Private Limited (India), and RECARO Automotive (Germany) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Seat Market.
The automotive seat market is gaining experience with the increasing need for weight reduction of the seats. Automakers are working towards reducing the weight of the vehicle with the objective of reducing exhaust emissions. The OEMs have been looking for light-weighting almost every part of a vehicle including seats. The ongoing trend of vehicle light weighting is driving the automotive seat market.
Seating systems are designed to accommodate the person seating in vehicle. The factors driving the automotive seat market are the need for reduction in weight of vehicles for optimized efficiency, and increase in demand for comfort and luxury of the driver and passengers. The other drivers of this market are the increase in demand for comfort and luxury, boom in demand for compact vehicles, and the overall increase in the production of automobiles. The growth of this market is also expected to be driven by increasing vehicle production, the increasing trend of high value seat with integrated smart technology.
However, the growth of this market is expected to be restrained by the lack of standardization of seating systems and the short technology life cycle.
Automotive Seat Market Competitive Analysis:
The automotive seats market possess both well-established and small-scale vendors. The manufacturers are focusing on lightweight design of the seats, as it would contribute towards increase in the fuel efficiency of the vehicle. The seat manufacturers are facing challenge for cost reduction, which is prompting the companies to experiment with new and different designs and materials which would enhance the comfort of the passengers and also reduce costs. Many developments are taking place in market for enhancing the seating comfort and safety of passengers and drivers. Also, the factors such as advances in technology and the introduction of stringent government regulations are expected to increase the level of competition among the market players.
Industry/ Innovation/ Related News:
March 2018- Lear Corporation announced the opening of the expansion of its automotive seating structures manufacturing facility in Valença, Portugal. Lear extended its total area for production of more than 20,600 square meters and total office space of 2000 square meters.
March 2016- Johnson Controls introduced the third generation of its reduced-emissions polyurethane foam to market. Depending on the specification, the foam registers fewer VOCs (volatile organic compounds). Johnson Controls has significantly reduced the quantity of material impurities and their associated odors in the foam.
October 2013- Toyota Boshoku Corporation announced that it has entered into an agreement to establish a joint sales venture with Relan Group of Industries, an automotive components supplier that makes seats and other components in India. With the aim to strengthen its sales structure and expand business in the decisive Indian market, the Toyota Boshoku group has established a joint sales venture, Toyota Boshoku Relan India Private Limited.
Automotive Seat Market Segmentation:
- Segmentation by Type – Bench, Bucket, Folding, and Others
- Segmentation by Technology – Powered, Heated, Powered & Heated, Standard
- Segmentation by Material – Genuine Leather, Synthetic Leather, and Fabric
- Segmentation by Vehicle Type – Passenger Car and Commercial Vehicle
- Segmentation by Regions: North America, Europe, APAC and Rest of the World.
- Automotive Seat Market – Regional Analysis
Automotive Seat Market Regional Analysis:
Based on regions, the market has been segmented as Asia Pacific, North America, Europe and Rest of the World. Amongst these, Asia-Pacific comprises of countries such as China, Japan and India among others. The increasing government support for foreign direct investments (FDIs) in these countries has generated attractive market opportunities for automobile seat manufacturers. Owing to the increase in competition, major OEMs are shifting their focus from developed countries to developing countries such as China, India, Thailand, and Indonesia. The overall automotive industry in the region is gaining traction owing to factors such as low production costs, lenient emission and safety norms, abundance of economical labor, and government initiatives for FDIs. The boom in automotive production along with the growing inclination towards comfort and luxury is leading to an increase in the demand for lightweight automotive seats.
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
The report for Global Automotive Seat Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Browse more details about “Automotive Seat Market Research Report – Forecast to 2023” at: https://www.marketresearchfuture.com/reports/automotive-seat-market-5495
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