Automotive seats are considered a significant part of a vehicle as they ensure the comfort of drivers and passengers. In addition to that, the use of different types of material and interior components can provide a unique look for the vehicle itself. Therefore, the material used for a seat needs to be durable which can also affect its price depending on the quality. Polyester is the most used material in manufacturing automotive seats, whereas mixed material can be used in seat’s frame to make it more durable.
The increasing sales for passenger vehicles are expected to drive the growth of the automotive seats market. According to an article published in The Economic Times in April 2023, the passenger vehicle sales in India grew 26.7% in the fiscal year 2022-23. Moreover, there is a rising trend of using battery-powered seats that facilitate automatic control of seat’s flexibility. Increasing adoption of such technologically equipped vehicles is expected to further propel the growth in this market. An article released by The Wall Street Journal in September 2022 suggests an increase in the share of luxury brands such as Tesla and BMW in new vehicle sales.
However, such technologically equipped seats are comparatively costlier than conventional seats. Therefore, the high cost of these seats is expected to restrain the growth of this market. The market can also be impacted by regulations of various countries related to the automotive industry. The regulations aiming to reduce emissions can create new opportunities in the development of environmentally friendly automotive components. Moreover, development of alternative materials and increasing focus on developing autonomous cars can provide further opportunities in the Automotive seats market.
The adverse impact of COVID-19 pandemic has been observed by almost all sectors and the automotive industry is no exception to that. Due to the lockdown, many production units were shut down and the supply chains across world were disrupted leading to drop in sales of automotive. As per a report published in June 2022 by Office of Industries, the vehicle sales in U.S. in 2019-20, declined by 15% while another article released in April 2020 by CNET suggests 93% of all auto production in the U.S. was shutdown by the end of March during the same period. However, the market is slowly reviving in the aftermath of pandemic.
There has been continuous innovation in the market. Key players are focusing on developing new technologies, adding new products to their portfolio, strategic partnerships, mergers and acquisitions, and expansion to further strengthen their position in the market. In December 2019, Hyundai Transys announced collaboration with Brose Fahrzegugetale, an auto seat mechanism company to develop future auto-seats. The initiative will help in bringing more convenience and safety to passengers and strengthen the position of the company in the market.
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Middle East & Africa
Toyota Boshoku Corporation
Magna International Inc.
NHK Spring Co. Ltd
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