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Passenger Car Seat Market Set to Reach $46.1 Billion by 2030

Attractive Opportunities in Passenger Car Seat Market

Attractive Opportunities in Passenger Car Seat Market

The passenger car seat market is estimated to grow from USD 42.5 billion in 2023 to USD 46.1 billion by 2030 at a CAGR of 1.1% over the forecast period. The increasing stringency in regulations and safety standards for vehicles, technological advancements & innovation in the seating segment, and increasing focus on electric vehicles and others are driving the passenger car seat market. Asia Pacific and the Americas will remain the top regional markets for this product.

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Powered seats have the highest market in the Asia Pacific region for technology.

Powered seats can be adjusted with a button, making it easy to find a comfortable position. This is especially helpful for people with limited mobility or back pain. It can be customized to fit the individual needs of the driver or passenger. These powered seats often have additional advanced features such as memory settings, heated and ventilated options, massage functions, and integrated lumbar support. Furthermore, technological advancements and the decreasing cost of powered seat systems have played a crucial role in their wider adoption.

Similarly, the SUV segment in the Asia Pacific region has also witnessed a surge in the adoption of powered seats. SUVs are increasingly popular among consumers due to their spaciousness, versatility, and ability to navigate diverse terrains. Powered seats are a premium feature in SUVs, adding to these vehicles' overall comfort and luxury quotient. Additionally, economies of scale and improved manufacturing processes have reduced costs, making powered seats more affordable for consumers. The market for powered seats in the Asia Pacific region was 4.0 million units in 2023 and is projected to grow by 5.8 million units by 2030 by volume. With passenger cars and SUVs experiencing substantial growth in the Asia Pacific market, the demand for powered seats is poised to expand, presenting lucrative opportunities for automotive manufacturers and suppliers operating in the region.

Seat belts will dominate the passenger car seats component market.

Seat belts are one of the most important safety features in passenger cars, and they account for the highest market share in components. In 2022, according to MarketsandMarkets the global market for seat belts in passenger cars had a volume of 286.2 million units and will reach 320 million units by 2030, and it is expected to grow at a CAGR of 1.6%. Seat belts are highly effective in reducing the risk of injury or death in a car crash. According to the National Highway Traffic Safety Administration (NHTSA) 2021, seat belts reduce the risk of death by 45% and the risk of serious injury by 50%. Third, seat belts are required by law in most countries. All new passenger cars sold in these countries must have seat belts. The increasing number of passenger cars sold worldwide and the growing awareness of the importance of seat belts in preventing injuries in car crashes. In addition, new technologies, such as active seat belts, are expected to increase the demand for seat belts in passenger cars. Active seat belts are designed to tighten automatically in the event of a crash, which can help to reduce the severity of injuries. Passenger car safety systems manufacturers continue to invest in research and development to introduce advanced seat belt technologies, driving innovation and further expanding the market's potential.

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Asia Pacific region is estimated to be the dominant passenger car seat market.

The market growth in the Asia Pacific region is due to countries such as China, Japan, and India, attributed to the increasing demand for vehicles. Due to the increased vehicle production and sales, China is estimated to be the region's fastest-growing market for automotive seats. According to OICA, ten countries accounted for over 80% of global car production in 2022.

China has the highest car production across the globe, according to OICA, where the SUV segment is growing more than the hatchback car segment in which SUV sales were up 10% year-over-year, while hatchback sales were up 4%, in which 5-seater SUVs will raise the demand for bucket seats in the front row and split bench seats in the second row. In contrast, the 7-seater SUVs will boost the demand for bucket seats in the front and middle rows and split bench seats in the third row. Furthermore, the global luxury vehicle market will grow at a CAGR of 6.9% from 2023 to 2030. China is the largest market for luxury cars, with 34%, according to OICA. This will also lead to increased passenger car sales, influencing the passenger car seat market.

Key Players

Prominent companies include Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada) are the leading manufacturers of passenger car seats in the global market.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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