Automotive Seat Market is Poised to Register the Highest CAGR of 4.3% Percent from 2018 to 2025
The global automotive fabric market was estimated at $71.65 billion in 2017 and is anticipated to reach $101.39 billion by 2025, garnering a CAGR of 4.3% from 2018 to 2025. The report offers a detailed analysis of top investment pockets, top-winning strategies, drivers & opportunities, market size & estimations, competitive landscape, key segments, and changing market trends.
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Rising sales of luxurious vehicles in developing countries, growing need for lightweight seat frame, and increasing demand for climate-controlled seat technology have fueled the growth of the global automotive seat market. On the other hand, volatility in the prices of metal and slowdown in the sales & production of automobiles hamper the growth to certain extent. Nevertheless, rising demand for animal products free vehicles and growing popularity of autonomous vehicles are expected to create multiple opportunities in the near future.
The fabric segment to remain dominant through 2018–2025
Based on trim material, the fabric segment contributed to more than two-fifth of the total market share in 2017 and is expected to dominate the automotive seat market throughout the forecast period. Growing demand for the polyester and nylon typed fabric material for various interior applications of vehicle along with innovation in fabric material have spurred the growth of the segment.
The passenger car segment to lead till 2025
Based on vehicle type, the passenger car segment held three-fourth of the total market share in 2017 and is anticipated to retain its top status during the forecast period. Increase in demand for vehicles such as sedans, luxury sedans, and mid-range vehicles among others and rise in disposable income are expected to create an opportunity for fabric material for passenger vehicles which, in turn, has risen the requirement of automotive seats used in passenger cars.
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The Asia-Pacific region to rule the roost
Based on geography, the Asia-Pacific region garnered the highest revenue in 2017, accounting for around two-fifth of the total market share. Moreover, the same segment is also expected to grow at the highest CAGR of 3.8% during the study period. Rise in adoption of fabric material in automotive, focus on developing newer products, increase in vehicle sale, and government investments & initiative in emerging economies have driven the growth of the automotive seat market across Asia-Pacific region.
Key market players
The key players analyzed in the automotive seat market report include Aisin Seiki Co., Ltd, Faurecia, GENTHERM, Lear Corporation, NHK SPRING Co., Ltd., Magna International Inc, TS Tech Co., Ltd. Adient plc, Tachi-s Co., Ltd., and Toyota Boshoku Corporation. The top-end strategies they adhere to have helped them cling onto their top status in the market.
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