Press release
Demand for Automotive Seats Market Trends, Top Manufactures, Industry Growth Analysis & Forecast 2022
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.This Report encloses comprehensive analysis on the market and are assessed through volume and value data validated on three approaches including top companies revenues. It concludes with precise and authentic market estimations considering all the parameters and market dynamics. Every crucial and decisive detail for the development and restriction of the market is mentioned in fine points with solutions and suggestions that may affect the market in near future. Segmentation of the market are studied specifically to give profound knowledge for supplementary market investments.
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What are the Challenges Stakeholders in the Automotive Seats Market Need to Address?
OEMs are increasingly modifying their production processes to accommodate the burgeoning consumer demand for personalization in automobiles. The pervasive trend is expected to emerge as a significant challenge for automotive seats manufacturers who are seeking ways to address the demands while maintaining cost-effectiveness.
Demand for both lightweight and technologically advanced automotive seats is on the rise with consumers expecting enhanced comfort and fuel efficiency from vehicles. However, the production of lightweight automotive seats integrated with electrical components poses a daunting challenge for manufacturers operating in the automotive seats market.
Additionally, the Automotive Seats Market study puts forth a rigid basis for collecting a cluster of insights that potential customers can use to enhance their revenues and reduce costs. The illustration of data on Automotive Seats Market segmentation by type, application, and geography offers a critical viewpoint of, what manufacturers are eyeing for the stipulated timeframe.
Key Insights Enclosed in the Report
• Key technological developments related to the Automotive Seats Market
• Assessment of the product pricing strategies of prominent market players
• Country-wise analysis of the Automotive Seats Market in different regions
• Analysis of the COVID-19 impact on supply-demand, value chain, and consumption
• Adoption of the Automotive Seats Market in various end-use industries
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Automotive Seats Market – Competitive Landscape
With innovation gaining focus in the automotive seats market, leading companies are coming together for research and development of innovative and novel automotive seating solutions. In line with the same pervasive trend, Lear Corporation announced entering a partnership with Gentherm Inc. for research and development of thermal seating systems. The companies will be focusing on developing a modular and integrated heating and cooling system for Lear’s Intu seating systems.
In order to stay at pace with the changing demands of the automotive industry, Faurecia announced the opening of a research and development center specifically for automotive seating. The facility was built with an investment of over US$ 14 million and will be focusing on the production of advanced electromechanical parts for seating systems such as backrest adjuster and electric backrest.
To capitalize on the burgeoning demand for automotive seats, Toyota Boshoku announced signing a Memorandum of Understanding (MoU) with Toyo Seats Co., Ltd., and Delta Kogyo Co., Ltd., to form a joint venture for the manufacturing of automotive seats in the US. The newly formed alliance is aiming to leverage the expertise of each of the partners for acquiring an order from the Mazda Toyota joint venture in the US which is scheduled to begin production of vehicles from 2021.
Growing innovation towards the development of seating systems for autonomous vehicles received a substantial boost when Magna, a Canadian-based automotive seats manufacturer showcased its reconfigurable seating technology specifically tailored for autonomous vehicles. The company unveiled three different seating ecosystems for car sharing, long road trips, and autonomous ride-sharing.
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