An overview of the market share of Automotive Seats
The automobile seat market was worth $71,651.20 million in 2017 and is expected to grow at a CAGR of 4.3 percent from 2018 to 2025, reaching $101,397.20 million. The gasoline by vehicle energy source sector generated the most revenue in 2017, with $56,828.9 million, and is expected to reach $72,226.0 million by 2025, a CAGR of 2.9 percent during the projected period. The Asia-Pacific region had the biggest market share for car seats in 2017.
Explore the various facets of automotive seats that drive the market growth
The automotive seat is an important component of a vehicle since it gives comfort to the driver. Furthermore, because of their capacity to integrate numerous interior sections and different types of fabric materials, these seats provide a car a stylish appearance. Furthermore, automobile seats are one of the most important components in vehicles because they are meant to support the thighs, buttocks, lower and upper back, and head. They're commonly built of steel, aluminium, or a combination of the two. Rising sales of passenger, electric, and commercial cars around the world are one of the primary drivers boosting the automotive seat market share.
Why is Europe presently leading the automotive seat industry?
Due to a strong focus on improved fuel efficiency and autonomous driving, Europe is now leading the automobile seat industry. Furthermore, as Europe's safety standards have improved, demand for these features has soared. As a result of the increased manufacturing sector and industrialisation, the automobile seat industry is expected to grow even more. Furthermore, the expansion of the automotive seat market is fueled by an increase in the demand for luxury automobiles in developing nations, as well as an increase in the demand for climate-controlled seat technology and lightweight seat frames. Furthermore, factors such as an increase in passenger vehicle sales due to middle-class families' improved lifestyles combined with an increase in disposable money, as well as a surge in demand for feature-enabled advance seats, all contribute to the automotive seat market's growth.
However, metal price instability and a downturn in automobile sales and manufacturing are the main factors limiting the growth of the automotive seat market. Furthermore, the growing popularity of autonomous vehicles and the rise in demand for animal-free vehicles are expected to provide attractive chances for market expansion. The market was estimated from 2018 to 2025, taking into account all of the driving factors that have an equal impact on the automotive seat market applications.
The popularity of self-driving cars is growing
The popularity of self-driving automobiles has increased in recent years. In May 2019, it was reported that Lyft riders in the Phoenix area of Arizona will be able to request a ride in one of Waymo's self-driving minivans. In the beginning, Lyft's app will only have 10 vehicles available in a few towns around Phoenix. Following the arrival of driverless vehicles, prominent corporations will concentrate their efforts on the vehicle's interiors. The seating structure of driverless vehicles will change as a result of this. Many of the world's biggest automotive seat manufacturers, such as Adient plc, are working on autonomous vehicle seats. Adient plc, for example, was working on innovative safety solutions for future generation car seats in September 2017, such as different seating configurations in autonomously driven vehicles. As a result, driverless vehicles are likely to present lucrative future potential for the automotive seat market.
Key market players
- Adient plc
- Aisin Seiki Co., Ltd
- Lear Corporation
- Magna International Inc
- NHK SPRING Co.,Ltd
- TACHI-S CO.,LTD
- TOYOTA BOSHOKU CORPORATION
- TS TECH CO.,LTD
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