Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The "Automotive Seats Market - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Automotive Seat Market is Projected to Grow to USD 60.0 Billion by 2025 from USD 51.9 Billion in 2020, at a CAGR of 2.9%
Factors such as the Inclination of consumers towards more comfort and luxury features would drive the automotive seat market
Synthetic leather is estimated to be the fastest-growing trim material for the automotive seat market globally.
Synthetic leather its flexibility and multiple color options, allows OEMs to configure different types of interiors. It is widely used for car seats as it is cheaper than genuine leather. Asia Oceania is projected to be the largest as well as the fastest-growing synthetic leather market for automotive seats owing to customer inclination toward comfort & luxury features.
Synthetic leather has features such as toughness, flexibility, and resistance to abrasion and temperature, which drives its demand in the mid-range passenger car segment in the region. In developed countries such as Germany, France, and Spain, synthetic leather is being adopted as an eco-friendly substitute for genuine leather due to stringent environmental regulations and increasing public awareness.
Aluminum is estimated to be the fastest-growing material for automotive seats.
The application of aluminum offers significant weight reduction, which helps make the vehicle more fuel-efficient, especially in light of the increasingly stringent emission norms, which are prompting OEMs to reduce the weight of vehicles. Therefore, when it comes to the selection of an optimum material for lightweight seat structures, aluminum is the preferred option, especially for seat components such as backrests and cushion pans.
However, the cost of aluminum and price stability is a challenge for this segment. Presently, the penetration of aluminum in the seat market is quite minimal. However, big players such as Faurecia, Lear Corporation, and Magna are undertaking developments to increase the usage of aluminum with the help of composites. However, the increasing demand for light-weighting is expected to increase the use of aluminum in automotive seats during the forecast period.
Asia Oceania constitutes the largest automotive seat market.
Asia Oceania is estimated to lead the global automotive seat industry as the region represents countries such as China, Japan, South Korea, and India, with the world's highest vehicle production. The automobile industry is flourishing in this region, especially in South Asia. Additionally, This region has emerged as a hub for automotive production in recent years, owing to changing consumer preferences, increasing disposable income of the middle-class population, and cost advantages for OEMs.
Daimler (Germany), Volvo (Sweden), BMW (Germany), Volkswagen (Germany), and Scania (Sweden) have already set up manufacturing units in these countries. Factors such as low production costs, availability of economical labor, lenient emission and safety norms, and government initiatives for FDIs, have led to the region witnessing higher growth than the matured markets of Europe and North America. Consumers in the region are inclined toward compact and cost-effective cars.
The automotive seat market is dominated by global players and comprises several regional players. The key players in the automotive seat industry are Adient Plc (US), Lear Corporation (US), Faurecia (France), Toyota Boshoku Corporation (Japan), and Magna International (Canada).
The study includes an in-depth competitive analysis of these key players in the automotive seat market with their company profiles, SWOT analysis of the top five companies, recent developments, and key market strategies.
Increasing Vehicle Production
Rise in Demand for Suvs to Fuel Demand for Modular Seats
Increase in Demand for Luxury and Premium Vehicles
Impact of COVID-19: Increase in Demand for Aftermarket Seating Solutions
High Cost of Advanced Modular Seats Compared to Conventional Seats
Growing Focus on Autonomous Cars and Increasing Preference for Ride Sharing
Impact of COVID-19: New Anti-Microbial Seating Solutions
Development of Lighter Seats at a Low Cost
Bharat Seats Limited (BSL)
Brose Fahrzeugteile Se & Co. Kg
Delta Kogyo Co., Ltd.
Freedman Seating Company
Harita Seating Systems Ltd.
IG Bauerhin GmbH
Phoenix Seating Limited
Summit Auto Seats
Tata Autocomp Systems
Toyota Boshoku Corporation
For more information about this report visit https://www.researchandmarkets.com/r/k2jhy0
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