E-Bike Market Projected to reach $77.2 billion by 2028

The global automotive seat market is projected to reach USD 58.4 billion by 2030 from USD 53.7 billion in 2023, at a CAGR of 1.2%. The automotive seat industry's growth is mainly driven by growing demand for premium vehicles, rising adoption of powered seats in mid-segment cars & SUVs, and increasing demand for aftermarket seating solutions drive the automotive seat market.

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Asia Pacific is estimated to be the most prominent automotive seat market. This region contributes to more than 55% of global vehicle production. In 2022, the global production of passenger cars was ~64 thousand units, in which the Asia Pacific region contributed ~62%, which increased by 4.2% compared to 2021. In 2022, China produced 23.1 million units, India produced 4.4 million units, and Japan made 6.4 million units of passenger cars. The growing growth in urbanization in the region has increased the demand for cars as a means of transportation. Additionally, SUVs and minivans are becoming popular because they are roomier and more comfortable than sedans. Government backing for electric vehicles is also rising.

Construction and Mining Equipment holds the largest OHV seats market in terms of volume during the forecast period. On average, the drivers of OHVs work continuously for an average of 9-10 hours, whereas the OEMs like Caterpillar (US), Komatsu (Japan), Volvo (Sweden), and John Deere (US) offer heated, heated & ventilated seating solutions. Caterpillar 745 Articulated Truck, Komatsu HD785-7 Off-Highway Truck, and Volvo A60H Articulated Hauler are some of the examples that offer heated, powered, and ventilated seats in their vehicles. These vehicles are in great demand due to infrastructure development going on globally. For instance, Saudi Arabia has invested USD 500 billion in the northwest of their country to build a hub for technology, innovation, and tourism, in which the first phase of the project was launched in 2019. Also, The Grand Ethiopian Renaissance Dam constructed in Blue Nile River in Ethiopia is expected to be completed by the end of 2023, generating 6,450 megawatts of electricity. Hence these mega projects globally use OHVs with ventilated and powered seats to improve the driver's comfort.

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BEV holds the largest volumetric marketplace for electric vehicles with a CAGR of 22.3% during the projected period, with 10.2 million BEVs will be sold globally in 2022 and 39.2 million BEVs will be sold globally by 2030 according to the estimation of MarketsandMarkets. The market for luxury cars is expanding, and as a result, many luxury automakers are now producing electric vehicle models. This has increased the adoption of BEVs while also driving up demand for high-tech seats. All autonomous vehicles require cutting-edge seats that can be adjusted to each passenger's needs and provide a comfortable and secure trip. This key benefit of advanced centers may help to lower the danger of injuries in the case of a collision. For example, Jaguar (UK) launched I-PACE, an electric SUV that offers optional premium seats with luxurious design features, power adjustment, heating, and cooling functions. Hence OEMs offering more BEV will drive the market with advanced seats provided in them.

The golf cart vehicle seats have the highest market share of 35.3% in volume during the forecast period. Considering the golf game, the number of golf rounds played in 2022 compared to 2019 increased by 15%, according to data from the National Golf Foundation (NGF), due to the registration of new golfers. These vehicles are used outside the golf courses in various locations, including resorts, retirement communities, college campuses, industrial complexes, and residential neighborhoods; they are used for transportation more frequently. They are preferred for short-distance travel because of their adaptability and capacity to maneuver through constrained spaces. Depending on the model, golf carts typically accommodate passengers ranging from 2 - 6 people or have 2 - 4 rows of split seat arrangements and find their application in shuttle services, family and friend transportation, and group travel within predetermined zones. Hence considering the wide application of golf carts with many benefits, the market for automotive seats in split bench and bucket seats will increase in the projected period.

Key Market Players:

Major players in the market include Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada).

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This release was published on openPR.