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Passenger Car Seat Market Report 2024: Global Size, Share, Growth, Trends, Forecast, Outlook to 2033
Passenger Car Seat Market Report
According to The Business Research Company's, the passenger car seat market size has grown steadily in recent years. It will grow from $41.91 billion in 2023 to $43.25 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to safety regulations, comfort and ergonomics, aesthetic considerations, changing consumer preferences, and the rise of electric vehicles.
The passenger car seat market size is expected to see steady growth in the next few years. It will grow to $49.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to the rising adoption of electric and autonomous vehicles, increasing focus on sustainability, increasing production and sales of passenger vehicles, growing demand for enhanced aesthetics and comfort in cars, and rising adoption of powered seats in mid-segment cars and SUVs. Major trends in the forecast period include the adoption of sustainable materials and manufacturing processes, advanced materials, integration of smart technologies, adapting to evolving regulatory requirements, and emphasizing ergonomic design.
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Market Drivers and Trends:
The growing production and sales of passenger vehicles are expected to propel the growth of the passenger car seat market going forward. Passenger vehicles refer to automobiles designed primarily for the transportation of passengers rather than goods. Rising demand for passenger vehicles is driven by factors such as urbanization, increasing disposable incomes, and advancements in automotive technology. Passenger car seats are integral to the functionality, comfort, and safety of passenger cars, making them essential for a pleasant and secure driving experience. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based trade association, 10.9 million passenger cars were made in the European Union in 2022, an increase of 8.3% compared to 2021. Therefore, the increasing production and sales of passenger vehicles are driving the growth of the passenger car seat market.
Major companies operating in the passenger car seat market are focusing on developing innovative products, such as next-generation safe car seats, to better serve customers with highly secure options. Next-generation safe car seats refer to advanced seats designed with innovative materials and technologies to enhance safety, performance, and efficiency. For instance, in January 2023, Babyark, an Israel-based manufacturer of digital, smart child car seats, launched the world's safest car seat to provide real-time safety indications to caregivers. The Babyark car seat features remarkable safety and sustainability elements, including advanced safety technologies and materials that significantly improve crash protection and durability. Notably, the Babyark car seat utilizes aerospace-grade carbon fiber and an energy-absorbing structure, which minimizes the impact forces on a child during a collision, setting a new standard in car seat safety. Additionally, the smart seat uses 14 sensors embedded in the base to monitor the seat's installation, whether the child is buckled, and if the child is forgotten in the vehicle.
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Major Key Players of the Market:
Robert Bosch GmbH, Nissan Motor Co, Magna International Inc., Aisin Corporation, Johnson Controls International plc, Faurecia SE, Lear Corporation, Adient plc, Brose fahrzeugteile SE$Co., Leggett & Platt, NHK SPRING Co.Ltd., Tata Autocomp Systems Limited, GRAMMER AG, TACHI-S CO.LTD., Gentherm Inc., Kongsberg Automotive ASA, Sharda Motor Industries Ltd., RECARO Holding GmbH, Futuris Group, Bharat Seats Ltd., RCO Engineering Inc, Sitech Sitztechnik GmbH, SABELT, Hyundai Transys Co., Cogent Passenger Seating Ltd
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