The automotive seats market size is projected to grow from US$ 60,289.63 million in 2022 to US$ 83,792.86 million by 2030; it is estimated to register a CAGR of 4.2% from 2023 to 2030.
Analyst Perspective:
The automotive seats market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America (SAM). In 2022, Asia Pacific led the market with a substantial revenue share in the automotive seats market, followed by North America and Europe.
Asia Pacific has strong vehicle sales and production. For instance, according to International Trade Administration (ITA), China is the world's largest vehicle market by annual sales and manufacturing output. It's with domestic production projected to reach 35 million vehicles by 2025. Such a rise in the automotive sector propels the automotive seats market.
North America is focused on strengthening its automotive sector by increasing government spending, which is resulting in the growth of vehicle production and sales in the region. The US Infrastructure Bill and National Electric Vehicle Infrastructure (NEVI) benefit the automotive sector and promote electric vehicle adoption, contributing to the North America automotive seats market. In addition, automotive seat manufacturers are launching innovative products. For instance, in May 2023, Graco unveiled Graco SlimFit LX 3-in-1, which is an all-in-one car seat, as a space-saving solution to fit three seats comfortably and easily in the back seat. The rise in the launch of innovative solutions fuels the North America automotive seats market size.
Market Overview:
Exposure to seated whole-body vibration for prolonged periods while driving increases risk to the spine, and heavy impacts due to bumpy roads and sudden maneuvering can develop lower back disorders. Automotive seats are designed to support buttocks, head, thighs, and lower and upper back to avoid discomfort and prevent heavy impact on the body. Seats are usually constructed from foam and comforting materials to provide comfort, safety, and support to the driver and passengers.
The demand for cars in various segments is based on income levels. For instance, small class or type A and B cars are mostly bought by the lower-income population. The lower-medium income population usually buys medium class or type C and D. The high-end class or type E, F, and G cars are purchased by the higher-income population. The growing sales of automotive vehicles worldwide drives the demand for automotive seats. The rise in road trips with friends and family has fueled vehicle sales. In addition, the rising disposable income of people worldwide has contributed to the demand for automotive seats. The rising demand for premium vehicles further fosters the automotive seats market expansion. The demand for 6 or 7-seater vehicles has fueled the need for SUVs and MPVs, propelling the automotive seats market growth.
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Automotive Seats Market: Strategic Insights
Market Size Value in US$ 60,289.63 million in 2022 Market Size Value by US$ 83,792.86 million by 2030 Growth rate CAGR of 4.2% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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Automotive Seats Market: Strategic Insights
| Market Size Value in | US$ 60,289.63 million in 2022 |
| Market Size Value by | US$ 83,792.86 million by 2030 |
| Growth rate | CAGR of 4.2% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
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Market Driver:
Rising Demand for Premium Vehicles
Premium vehicles have gained traction due to technology advancements that enhance the driving experience and provide added safety features. Further, the increasing disposable income has fueled the sales of premium vehicles. According to Trading Economics, the disposable personal income in India was US$ 2,415,846 million in 2020, which increased to US$ 2,886,265 million in 2021. It is expected to reach US$ 2,987,285 million in 2023 and US$ 3,221,733 million by 2025.
Advanced automotive seats are among the latest technologies incorporated in premium vehicles. Heat/ventilated seats, heating coils, and electrically adjustable seats are a few advanced seat features that add extra comfort and luxury to the consumer. Comfortable seats have become the consumer's choice while traveling long distances. Relaxed, cozy, and restful seats help passengers avoid fatigue and motion sickness while traveling. Market players are constantly integrating additional features in automotive seats. In September 2022, Japan-based NHK Spring Co., Ltd. developed seats for self-driving cars to reduce passenger motion sickness. These seats are designed in such shape and size that help passengers sit in a comfortable and relaxing position for long journeys. Thus, the aforementioned factors are increasing the demand for premium vehicles, thereby driving the automotive seats market.
Segmental Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The automotive seats market is segmented into technology, adjustment type, vehicle type, seat type, and geography. Based on technology, the market is segmented into heated, heated-ventilated, ventilated, with massage functions, and Others. Based on adjustment type, the automotive seats market is bifurcated into electrically adjusted and manual. In terms of vehicle type, the market is segmented into passenger vehicle, light commercial vehicles, and heavy commercial vehicle. By seat type, the market is segmented into front row, second row, and third row. Geographically, the automotive seats market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
The automotive seats market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America (SAM). In 2022, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe.
Asia Pacific is witnessing a rise in government initiatives to boost the electric vehicle market, which is driving the demand for automotive seats. Governments of various countries, such as China and India, imposed policies and provided generous subsidies for EV purchases, encouraging the adoption of electric vehicles, further propelling the automotive seats market size in the region.
The rising sales of automotive vehicles in the region, owing to the rising disposable income of the region's citizens, is contributing to the Europe automotive seats market growth. Further, governments of countries in the region are investing to boost their electric vehicle market. For instance, in July 2021, Spain's government announced an investment of US$ 5.11 billion (EUR 4.3 billion) to boost electric vehicle and EV battery production in a national spending program funded by the European Union recovery funds. Therefore, the growth in the electric vehicle market drives the Europe automotive seats market.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Key Player Analysis:
The automotive seats market analysis consists of players such as Lear Corp, TS Tech Co Ltd, Adient Plc, Summit Auto Body Industry Co Ltd, NHK Spring Co Ltd, Magna International Inc, Bharat Seats Ltd, RECARO Aircraft Seating GmbH & Co KG, Forvia, Toyota Boshoku Corp, and Tachi-S Engineering USA Inc.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the automotive seats market. A few recent key automotive seats market developments are listed below:
- In 2023, Faurecia's reinvestment in automotive seating, the new method of designing seats, dramatically decreases the number of parts used in a typical seat from about 120 parts to 10 modules that may be put together in a wide range of combinations close to the automobile maker.
- In 2023, Toyota Boshoku Corporation (Global Mainstay Hub: Kariya City, Aichi Prefecture) developed a product portfolio of seats and interiors for use on the all-new Prius. The newly developed sporty style seats possess improved comfort for riding.
- In 2022, Adient partnered with EnerTech Capital. This partnership provided Adient with significant opportunities to benefit from insights into trends in mobility and gave the company curated access to high-tech companies focused on automotive technologies that can help enhance its products and operations.
- In 2022, Correios Brazil implemented automotive seat tags on cargo containers, which hold hundreds of packages, and installed ~2,000 readers at the entry and exit points in operational units, to better track letters and parcels through its network.
- In 2022, NHK Spring Co Ltd. concentrated on developing car seats that lessen motion sickness. The company designed a headrest with a cutting-edge structure and a handrest for holding a smartphone. Its effectiveness has previously been demonstrated. The company aims to increase its value in anticipation of the progressive commercialization of automated driving technologies.
- In 2022, Lear Corp. acquired all of Kongsberg Automotive's interior comfort systems business unit ("Kongsberg ICS") for ~US$ 188 million. Kongsberg ICS offers thermal comfort solutions, including seat massage, lumbar, heat, and ventilation products. This acquisition enhances Lear's seat component capabilities by adding specialized thermal comfort seating solutions and further differentiates product offerings by improving the seat system's performance and packaging.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Adjustment Type, Vehicle Type, and Seat Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The key players, holding majority shares, in global automotive seat market includes Adient Plc, Forvia, Toyota, Boshoku Corp, Magna International Inc., and Lear Corp.
APAC is anticipated to grow with the highest CAGR over the forecast period.
The military drone market is expected to reach US$ 83,792.86 million by 2030.
The global automotive seat market was estimated to be US$ 60,289.63 million in 2022 and is expected to grow at a CAGR of 4.2 %, during the period 2022 - 2030.
The increasing adoption of ABTS is anticipated to fuel the automotive seat market growth during the forecast period.
1. Rising Demand for Premium Vehicles
2. Increasing Adoption of Powered Seats in SUVs and MPVs
The List of Companies - Automotive Seats Market
- Toyota Boshoku Corp
- Adient Plc
- Lear Corp
- Bharat Seats Ltd
- Tachi-S Co, Ltd
- TS Tech Co Ltd
- Forvia
- Summit Auto Body Industry Co Ltd
- NHK Spring Co Ltd
- Magna International Inc
- RECARO Holding GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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