Global Automotive Seat Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Market's Growth is Driven by the Demand for Durable and Efficient Protective Automotive Finishes

The Global Automotive Seat Market is estimated to be USD 59.68 Bn in 2023 and is expected to reach USD 73.35 Bn by 2028 growing at a CAGR of 4.21%.

• Automotive seats play a vital role in a vehicle, providing both comfort to the driver and enhancing the vehicle's aesthetics by incorporating various interior elements and fabric materials. Furthermore, automotive seats are essential in vehicles, offering support for the thighs, buttocks, lower and upper back, and headrests. These seats are typically constructed from steel, aluminum, or a combination of materials. The increasing sales of passenger, electric, and commercial vehicles worldwide drive the automotive seat market's growth.
• The rising popularity of premium passenger cars and the increasing preference for electric vehicles contribute to the growing demand for automotive seats. Additionally, there is an increasing need for climate-controlled seat technology in the market.
• The automotive seat sector faces some notable restrictions. One of these restrictions is the comparatively elevated expense associated with advanced modular seats compared to the more conventional seating options. Additionally, there is a pervasive issue within the industry concerning elevated overall costs, which presents a significant obstacle.
• There are several promising opportunities on the horizon for the automotive seat market. One such opportunity stems from the increasing focus on autonomous vehicles and the rise of ridesharing services, which are expected to create a greater demand for automotive seating solutions. Another avenue for growth lies in the growing need for lightweight seating materials, particularly in electric vehicles, as the industry continues to evolve and adapt to environmentally friendly practices. These opportunities hold the potential to drive innovation and expansion in the automotive seat sector.
• The automotive seat industry faces certain challenges that need to be addressed. One challenge is the substantial investment required to develop and integrate lightweight materials into automotive seats. Additionally, a challenge stems from a decrease in both the sales and production of automobiles. These challenges pose significant hurdles for the automotive seat sector and require strategic solutions to navigate effectively.

Market Segmentations

• The Global Automotive Seat Market is segmented based on Component, Trim Material, Technology, Vehicle Type, material, Seat Type, Sales Channel, and Geography.
• The market segmentation process for automotive seats offers consumers diverse options to cater to their needs and preferences. Whether it's the choice between standard, heated, or powered seats based on technology or the consideration of vehicle type (passenger or commercial) to meet distinct usage requirements, this segmentation ensures a tailored approach to seat selection.
• Furthermore, the availability of various trim materials, including leather for luxury, fabric for comfort, and PVC for easy maintenance, allows consumers to align their seats with style and practicality. Considering component types such as armrests, pneumatic systems, seat belts, headrests, recliners, and tracks adds another layer of customization for enhanced comfort and functionality.
• Additionally, seats can be categorized by capacity, accommodating both single-seater and two-seater preferences, while sales channels, encompassing OEM and aftermarket options, provide flexibility in the purchasing process. This comprehensive segmentation empowers consumers to make informed choices that align with their unique requirements and preferences.

Recent Development

• 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 automobile makers. - June 2023
• Toyota Boshoku Corporation developed a product portfolio of seats and interiors for the all-new Prius. - January 2023
• Adient partnered with AnerTech 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 product and operations.- October 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Adient PLC, Lear Corporation, Faurecia SE, Toyota Boshoku Corporation, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Seat Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Seat Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Seat Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market