Automotive Seats Market Share, Trends, Business Strategy and Forecast to 2022 || Key Players - TACHI-S Co., Ltd., IFB Industries Limited, Adient Plc.

According to a recent study by Fact.MR, the automotive seats market is projected to grow at a steady rate during the 2017-2022 period with the global sales poised to surpass US$ 34 billion in 2019. Bolstering automobile sales, the introduction of novel and innovative products, and increasing production are some of the factors contributing significantly to automotive seats market proliferation.

The gradual digitalization of automotive seat production supply chain is likely to bolster production while enabling manufacturers in substantially reducing the cost incurred during the process. Integration of software platforms such as 3D graphics designers is allowing manufacturers to gain greater control over seat cover designs and make substantial savings on material costs. Additionally, these applications are enabling automotive seat manufacturers in the production of seat covers with efficient positioning of seams to ensure effective distribution of stress and compression making them durable and better fitting. These capabilities coupled with the benefits of synthetic leather are finding increasing usage in the automotive seats production. Fact.MR opines the factor is expected to play a vital role in popularizing the use of synthetic leather as seat covers in the automotive seats market with revenues generated from sales of seats using the material estimated to be valued at more than US$ 22 billion in 2019.

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Automotive Seats Market – Key Insights

Resurgent sales of automobiles around the world after the recession of 2008 was a vital factor which bolstered automotive seats market growth. Recovering sales helped automotive seats market register a healthy growth rate of 4.2% during the 2012-2016 period.

Proliferating automobile sales owing to a surge in the demand for light commercial vehicles for the development of fleets along with other factors saw the automotive seats market generate revenues of US$ 33 billion in 2018. The market is poised to register healthy growth at a CAGR of 5% during 2017-2022.

APEJ is estimated to account for the bulk of the automotive seats market share with the demand for luxurious and comfort seating on a rise in the region.

APEJ is also expected to emerge as the fastest growing automotive seats market owing to the presence of numerous leading automotive seating manufacturers in the region coupled with 90% of the modern-day urbanization taking place in the region.

Demand for bench automotive seats is expected to prevail in the market with the product finding widespread adoption as a rear seat in cars. Bench or split bench seats offer enough space to accommodate more people relative to bucket seats making which is driving its adoption in lightweight commercial vehicles, (LCVs) SUVs, hatchbacks, and sedans. Additionally, demand for bench and split bench seats is expected to remain buoyant specifically in the LCV segment with proliferating ride-sharing market bolstering sales of the vehicles.

The pervasive trend of interior personalization in automobiles is expected to drive demand for automotive seats with different cover material such as synthetic leather, fabric, and genuine leather while technological advancements are allowing consumers to choose from seats offering functionalities such as powered controls, heating or a combination of both.

Research Methodology

The report on automotive seats market is a consequence of a robust and elaborate research methodology. A two-step research process involving primary and secondary researches was used for obtaining invaluable insights into the automotive seats market. Interviewing experts from the automotive seats market formed the basis of the primary research while secondary research was conducted by thoroughly studying trade journals, company press releases paid sources, and other publications related to the automotive seats market. Results from both steps of research were cross-referenced with each other to filter out erroneous information and create an authentic and accurate forecast of the automotive seats market.

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