“Automotive Seats Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025),” is the new report published by Persistence Market Research for the estimated period of 8-years. With a CAGR of 3.7%, this market is expected to witness steady growth throughout the forecasted period. The slowdown in the global automotive production and increasing use of public transport to cut down the transportation cost are significant reasons behind the slow growth of the global market for automotive seats. Global sales of automotive seats are estimated to be valued at US$ 55.34 Bn in 2017 and is projected to increase and to be valued at US$ 74.19 Bn by 2025.
Global Automotive Seats Market: Restraints
- Lowering hide production to act as a restraint in the Europe automotive seat market
- Adoption of Low-cost and Inferior Substitutes
- Soaring government regulations and rules are acting as hurdles for the manufacturers
- Slowdown in the Global Automotive Production
- Increasing use of public transport to cut down the transportation cost
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Global Automotive Seats Market: Segmental Analysis and Forecast
The market is segmented into product type, vehicle type, cover material, by technology, and by sales channel. Product type segments include bench and bucket. Sales of Bucket segment Seat segment is estimated to be valued at US$ 35.46 Bn in 2017 and is slated to reach US$ 48. 82 Bn by 2025.
On the basis of vehicle type, the market is segmented into passenger cars, LCV (Light Commercial Vehicles), and HCV (Heavy Commercial Vehicles). The Passenger Car market segment is estimated to dominate the global automotive Seat market with a 75.1% market value share, valued at US$ 41. 57 Bn by 2017 end; expanding at a CAGR of 4.1% over the forecast period of 2017-2025. This segment is expected to create a total incremental opportunity of US$ 15.71 Bn between 2017 and 2025. The segment is anticipated to reach a market value of US$ 57.28 Bn by 2025 end of, in the global automotive seat market.
The Cover Material segment consists of genuine leather, synthetic leather, and fabric material.
The Fabric Material segment by cover material is estimated to dominate the global automotive seat market with a 63.6% market value share, valued at US$ 35,205.1 Mn by 2017 end; expanding at a CAGR of 4.2% over the forecast period of 2017-2025. This segment is expected to create a total incremental opportunity of US$ 13.58 Bn between 2017 and 2025. The segment is anticipated to reach a market value of US$ 48.78 Bn by 2025 end of, in the global automotive seat market.
Technology segments include standard, powered, heated, and massage. By Technology, the powered segment is expected to be a relatively attractive segment in terms of market growth rate and market size with a market value share of 17.4% by the end of 2025.
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By sales channel, the market is segmented into OEM (Original Equipment Manufacturer) and aftermarket. The OEM segment is expected to create a total incremental opportunity of US$ 18,339.7 Mn between 2017 and 2025. Sales of the OEM segment are estimated to be valued at US$ 71,360.6 Mn by 2025 end as compared to its US$ 53,020.9 Mn in 2017.
Global Automotive Seats Market: Forecast by Region
The report covers five regions namely, North America, Latin America, Europe, APAC, and MEA. Sales of Automotive Seats in North America is estimated to be valued at US$ 9889.3 Mn by the end of 2017 and is expected to reach US$ 12.45 Bn by the end of 2025, registering a
CAGR of 2.9% in terms of value over the forecast period. On the other hand, the APAC market is estimated to dominate the global automotive seat market with a 49.5% market value share, valued at US$ 27.36 Bn by 2017 end; expanding at a CAGR of 4.1% over the forecast period of 2017-2025.
Global Automotive Seats Market: Competitive Landscape
Adient PLC, Faurecia SA, Lear Corporation, Toyota Boshoku Corporation, TS Tech Co., Ltd., Magna International Inc., Aisin Seiki Co., Ltd., Tachi-S Co., Ltd., NHK Spring Co., Ltd., Guelph Manufacturing Group, RECARO Holding GmbH, Gentherm, Camaco LLC, Amvian Automotive (Pvt.) Ltd., Brose Fahrzeugteile GmbH & Co. KG, Kahovec, s r.o., Daewon Kangup Co Ltd, Siemens AG, PHOENIX SEATING LIMITED, and Autostop Global are some of the key player in the global automotive seats market.
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