Global Automotive Seats Market
The automotive seats market is poised to grow at a CAGR of 5.34% to a market size of USD XX billion by the year 2022. It is a challenging period for global automotive seat manufacturers as post-2010, car manufacturers have begun to place individual and separate orders for different seat components like frame, foam, and fabric. This has brought down the profitability of seat manufacturers as purchasers buy components from where they get the best bargain. This has considerably reduced the profit margins for the major manufacturers. Prior to 2010, most of the orders placed by car manufacturers were for complete seat systems and this allowed greater pricing control and margins for the seat manufacturers.
Increasing passenger comfort has become the most important consideration in the passenger car market and seats are a vital part of this. Seats should take as little space as possible and provide the maximum level of comfort. As a result, a lot of development is taking place in this space.
Automotive manufacturers consider the weight of the vehicle as one of the most important things. It is such a strong factor that some manufacturers such as Land Rover have started making automobiles solely out of light materials like aluminium to cut down on weight. To further reduce weight, automotive manufacturers are continuously exploring lightweight design for seats. Carbon fiber has emerged as a strong candidate for lighter seats but its high cost is impeding its progress.
Market Dynamics- Automotive Seats Market
Due to intense rivalry and margin pressures in the market, manufacturers are actively setting up bases in emerging markets like Vietnam to take advantage of the considerably lower labor costs. This trend will change the dynamics of the industry in the long run and seat manufacturers will have to start setting up facilities in these emerging markets to stay competitive.
The biggest restraint for the market is the economic crisis in the Latin American and eastern European region that has severely affected the automotive seats market. Sales in some countries have fallen by double digits. The economic situation is unlikely to improve before the end of 2017 and this could depress the growth rate of the market.
The market for powered and heated seats is expected to show the highest CAGR in the segment on account of rising sales of luxury vehicles and the increasing adoption of such seats in the mid-segment cars. The Asia-Pacific region is predicted to show the highest growth rate amongst all regions but a mild slowdown in the Chinese market could bring down the growth rate slightly.
The market has been segmented by material (Synthetic Leather, Leather, Fabric), technology (Standard Seats. Powered Seats, Powered & Heated Seats, Others) and region (North America, South America, Europe, Africa & Middle East and Asia-Pacific).
Some of the key players in the market are:
Johnson Controls Inc.
What the Report Offers
Market analysis for the global automotive seats market, specific assessment and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario and rising prospective opportunities along with the identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Automotive Seats Market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped.