The Automotive Advanced Seating System Market is projected to grow with a CAGR of more than 9 % during the forecast period.
- 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 advances seating systems will grow gradually.
- However, with inclusion of advanced technologies like advanced seats in automobiles may increase the overall cost of the vehicle which can impact the demand side in the market.
- The Automotive sector is currently witnessing a down trend due to several factors such as the trade war between the two major economies of the world China and United State, the ongoing pandemic situation of Covid-19 and also because of the cyclic nature of the automobile sector and is likely to revive during the second half of 2021.
- The demand for the market is high in Europe followed by North America region because of the major OEMs for Luxury cars are present in these two geographies and the spending of these major players on research and development of latest technology in advanced systems are generating demand for the market.
Key Market Trends
Luxury Cars Driving the Growth in the Market
The advances seating systems market is majorly driven by demand of luxury cars, as these features are likely to increase the cost of vehicle and hence not preferred by economy or mid-level car owners.
During the year 2019, the luxury car segment has witnessed growth of around 0.2%. But some of the premium car makers outperformed the market trend. For instance,
- The sales of BMW rose by 2% with a sales figure of record 2.17 million globally,
- Audi sales rose 1.8% to 1.6 million vehicles and
- Daimler which is the parent company of Mercedes recorded sales figure of 1.7 million Mercedes-Benz luxury cars in 2019.
These premium car manufacturers offer advanced features for their customers to enhance the customer experience, comfort and most important safety of the riders. For instance, in October 2019, Mercedes Benz introduced new seating technology manufactured by Comfort Motion Global, which reduce driver fatigue through automated micro-adjustments of the cushion and seatback. The system which is controllable by the user with vehicle’s touchscreen, micro-adjusts the seatback and bottom cushion throughout the drive.
Europe is Expected to be the Largest Market
The Europe region is expected to grow with the highest CAGR for automotive advanced seating system market. By market share In North America region the market for luxury cars have a good market share of about 1.6% of total car sales in United States are luxury cars.
The growth in the Europe region can be attributed to the presence of many premium vehicle OEMs in the region and their spending on new technology, comfort and safety related components in the vehicle to enhance the experience of their end users to increase the demand.
For instance, in January 2019, Lear Technologies which is a leading manufacturer for seating solutions of cars, announced a collaboration to integrate Lear's Intu comfort and wellness seating system into Rinspeed AG's newest and smallest autonomous concept vehicle, the microSNAP. Intu system jointly developed by Seating and E-Systems engineers, is comprised of a full suite of intelligent technologies that demonstrate enhanced passenger comfort, wellness, entertainment and safety.
The demand for premium vehicles is also forcing the OEMs to enhance the user experience and safety of the end users in the region. During the year 2019, the sales of premium cars in Europe outperformed the global sales and grew by more than 1%.
The major players in the Automotive Advanced Seating System Market are Lear Corporation, Continental AG, Faurecia, NHK and others.
These players are investing heavily in research and development of switches and relays for the commercial vehicles. For instance, in May 2019, Apple wins project Titan patent for an advanced motion control vehicle seating system. With an aim of reducing or removing the effects of vibration and discordant stimuli can improve the overall comfort of vehicle occupants.
The major players are entering into strategic partnership to develop innovative products to enhance the user experience and attract more demand. For instance, in January 2019, Lear Corp. and Gentherm, which is a specialist in thermal management technologies, entered into a partnership to develop thermal seating solutions for vehicles. With an aim for advanced development of a highly integrated, modular heating and cooling solution for Lear’s Intu seating system.
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1.2 Scope of the Study
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 Sales Channel
5.3.1 Power Seat Adjustments
5.3.2 Electric Seat with Memory Function
6.1.1 United States
6.1.3 Rest of North America
6.2.2 United Kingdom
6.2.5 Rest of Europe
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 Rest Of World
6.4.3 United Arab Emirates
6.4.4 Other Countries
7.2 Company Profiles
7.2.1 Continental Ag
7.2.4 Lear Corp
7.2.6 TS Tech
7.2.9 Magna International
7.2.10 Toyota Boshoku
A selection of companies mentioned in this report includes:
- Continental Ag
- Lear Corp
- TS Tech
- Magna International
- Toyota Boshoku