The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Seats market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Seats
The report offers actionable and valuable market insights of Automotive Seats. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Seats Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Automotive Seats, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Seats Market.
Comfort is of paramount significance for drivers as well as passengers of automobiles. Automakers are adopting innovative seating designs to cater to this stipulation. From passenger cars to heavy commercial vehicles, automotive seats are attracting the attention from manufacturers and customers, alike. Improvement in automotive seating of vehicles is also expected to lower post-accident traumas for vehicle occupants. Advanced seats are also observed as critical tools for ensuring a safe road travel for passengers. Fact.MR’s new report on the global market for automotive seats assesses multiple factors that will impact the market’s growth through 2022.
According to Fact.MR, the global market for automotive seats will reach an estimated value of US$ 31.5 Bn by the end of 2017. Fluctuating commodity prices are expected to impact procurement of raw materials & fabric for production of automotive seats.
Moreover, the report also indicates that advancements in production technologies and adoption of modular designs might compel some automotive seats manufacturers towards outright remodeling of their manufacturing infrastructure. By the end of 2022, more than US$ 40 Bn worth of automotive seats will be sold across the world, reflecting a steady revenue growth at steady CAGR.
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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.
Other key players operating in the automotive seats market include TACHI-S Co., Ltd., IFB Industries Limited, and Adient Plc.
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Following excerpts from the report provide insightful projections on the growth of global automotive seats market during 2017-2022.
- Globally, the demand for split-bench or bench seats is expected to gain traction. In 2017, these products will account for largest share of 80.1% on global automotive seats market revenues.
- Hatchbacks and sedans will reflect leading vehicle segments in the global automotive seats market, collectively accounting for more than half of global revenues through 2022.
- A region-wise analysis in the report projects that majority of global automotive seats sales will be registered in the Asia-Pacific excluding Japan (APEJ) region. Through 2022, the APEJ automotive seats market is pegged to soar at a steady CAGR.
- North America’s automotive seats market is expected to reach US$ 7.1 Bn in value by the end of 2017.
- In Japan, strict regulations are curbing automobile production, and limitations on dumping industrial material leftovers is restraining the use of advanced seating materials. These factors to lower the presence of Japan in growth of global automotive seats market. In 2017, Japan’s automotive seats sales are expected to contribute approximately lowest share of global revenues.
- In 2017, global sales of automotive seats made from genuine leather will come about 10% of global market value. Synthetic leather has successfully replaced genuine leather, and will bring in global revenues worth over US$ 26 Bn towards the end of 2022.
- While automotive seats developed on standard technology are currently dominating the global market with over two-third share, demand for powered automotive seats is expected to gain momentum towards the end of the forecast period.
- Lear Corporation, Faurecia SA, TACHI-S Co., Ltd., TS TECH Co. Ltd., Toyota Boshoku Corporation, IFB Industries Limited, Adient Plc., and Gentherm Inc. are profiled in the report as key players of global automotive seats market.
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More Valuable Insights on Automotive Seats Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Seats, Sales and Demand of Automotive Seats, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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