Market Size of Automotive Seats Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.27 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Seat Market Analysis
Currently, The Automotive Seat Market was valued at USD 80.25 billion, and it is expected to reach 109.2 billion growing at a CAGR of 5.27% in the upcoming five years.
The COVID-19 pandemic hindered the growth of the automotive seat market as there were continuous lockdowns and travel restrictions across the world to contain the virus. In addition, the market's supply chain got affected as manufacturing units were shut down. However, post-pandemic, the situation has gotten better with increasing sales of motor vehicles.
Over the long term, new opportunities in the automotive seat market are being created by the increasing use of lightweight materials to reduce seat weight. During the forecast period, the automotive seat markets will be fueled by rising SUV demand and rising vehicle production. The market is also being driven by rising demand for climate-controlled seat technology and lightweight seat frames.
Furthermore, the high costs of modular and advanced seats in comparison to traditional seats may stifle the growth of the automotive seat market. However, the increasing use of lightweight materials to reduce the weight of automotive seats is opening up new opportunities in the automotive seat market. Rising SUV demand and rising vehicle production will drive the automotive seat markets during the forecast period. Moreover, the companies are also using leather seats for the customers choosing leather seats for their comfort.
The Asia-Pacific region is expected to exhibit a better growth rate during the forecast period, as manufacturers are actively setting up bases in emerging markets such as India and China to take advantage of the low labor costs. This trend may change the dynamics of the industry in the long run, and seat manufacturers may have to start setting up facilities in these emerging markets to stay competitive.
