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Automotive Seats Market - Growth, Trends, and Forecast (2020 - 2025)

10-23-2020 08:09 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Automotive Seats Market - Growth, Trends, and Forecast (2020 -

The global Automotive Seat Market size is projected to grow to USD 60.0 billion by 2025 from USD 51.9 billion in 2020, at a CAGR of 2.9%. Increase in demand for luxury and premium vehicles, lightweight material would drive the global automotive seat industry.

With an increase in demand for SUVs and luxury cars, automotive seating has evolved in terms of technology, comfort, and safety. While initially, automotive seating consisted of heavy bench seats made up of coils, springs, and cloth as the seat cover, today, they have transformed into bucket seats and rear bench seats with a 60/40 split. Along with this shift, new technologies such as powered seats with features such as massagers, ventilated, heated, and memory seats have been introduced. For instance, Ford Motor Company’s Lincoln Continental has a 30-way adjustable seat that still retains its original size. Stress & fatigue detection seats, smartphone-connected seats, and customized massaging seats are a few such examples of seats that combine technology, comfort, and safety.

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To achieve better fuel efficiency and to reduce emission gases, lightweight material is being used in automotive seats. Using a proportionate mix of materials such as aluminum, magnesium, and carbon fiber, manufacturers develop lighter seat frames and structures. For instance, Adient is working on a multi-material lightweight seat structure made from die-cast magnesium as it is 75% lighter than steel and 33% lighter than aluminum. Faurecia joined the German carbon fiber composites network based in Augsburg, Germany, to develop manufacturing processes for mass production of carbon composite parts in vehicles such as seat frames and car bodies, among others. The carbon composite parts are expected to weight 50% less compared to steel.

The COVID-19 pandemic has resulted in a decline in vehicle production in 2020, which has directly affected the automotive seats market. The pandemic has resulted in an economic slowdown across countries, impacting the purchasing power of buyers. Plans by OEMs to implement advanced seating features might get delayed deferring additional costs on buyers. To boost the sale of vehicles, OEMs and Tier 1 companies of seats are investigating antimicrobial materials and easily cleanable surfaces for vehicle interiors. For instance, Faurecia is looking at foggers that could spray a disinfectant such as hydrogen peroxide, while Magna is evaluating an ozone-generating system for cars. However, recovery from COVID-19 and recent safety-related developments could prove to be a key consideration in the purchase of vehicles in the near future. This would lead to a slow and steady recovery in the production of vehicles, in turn, resulting in a growth in the demand for automotive seat systems.

Key Market Players:

Some of the key players in the automotive seat market are Adient Plc (US), Lear Corporation (US), Faurecia (France), Toyota Boshoku Corporation (Japan), and Magna International (Canada). Adient Plc adopted the strategies of Supply contracts/Agreement/Partnership to retain its leading position in the automotive seat market. Lear Corporation also adopted expansion as a key strategy to sustain its market position.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of globalFortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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