Market Size of Automotive Advanced Seating System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Advanced Seating Market Analysis
The automotive advanced seating system market was valued at around USD 15.2 billion and is projected to reach USD 25.29 billion, with a CAGR of around 7.7% during the forecast period.
- The global COVID-19 pandemic had a significant influence on the market; with manufacturing activities halting, disruptions in the global supply chain, and a fall in vehicle sales, the automotive advanced seating business experienced a revenue decline. However, in response to the pandemic, there has been an increased emphasis on hygiene and cleanliness, and the market is likely to rise significantly throughout the forecast period due to rising vehicle sales and technological advancements.
- With the increase in demand for safety and comfort features for the automobile user to enhance the experience of the driver as well as the co-passengers. With the inclusion of high-end technologies like connected cars and autonomous driving vehicles, which are used in luxury and premium cars, the demand for advanced seating systems will grow gradually.
- However, the inclusion of advanced technologies like advanced seats in automobiles may increase the overall cost of the vehicle, which can impact the demand side of the market.
- The demand for the market is high in Europe, followed by the North American region, because the major original equipment manufacturers (OEMs) for Luxury cars are present in these two geographies, and the spending of these major players on research and development of the latest technology in advanced systems is generating demand for the market.
