PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587644
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587644
According to Stratistics MRC, the Global Passenger Car Seat Market is accounted for $43.6 billion in 2024 and is expected to reach $53.5 billion by 2030 growing at a CAGR of 3.5% during the forecast period. A passenger car seat is a crucial component that offers comfort, safety, and support during transit. It is designed with ergonomic principles and features adjustable features to accommodate different body types and preferences. High-quality materials like leather, fabric, or synthetic are used to enhance comfort and durability. Advanced seats also incorporate safety mechanisms like seat belts, airbags, and impact sensors. Premium models include heating, ventilation, and massage functions. Modern car seats prioritize safety, adaptability, and user comfort, making them essential for daily commuting and long-distance travel.
Increasing demand for passenger vehicles
Automakers are increasing production in response to the increased demand for passenger cars, which is driving up demand for passenger car seats, especially for volume and mid-range models. In order to improve passenger comfort and satisfy regulatory requirements, technological innovations including lightweight materials, sensor-equipped smart seats, and modular designs are being invested in, particularly in areas where the use of electric and driverless vehicles is widespread.
High cost of advanced seats
Consumer affordability may be impacted by rising seat technology costs since manufacturers must pay more for production and raise car prices. This may discourage budget-conscious consumers from investing in first-class seating, which could lower demand for advanced tickets. Additionally, in order to remain competitive, automakers would absorb a portion of the increased costs of sophisticated seats, which would reduce profit margins and possibly restrict R&D spending for new seating technology impeding growth of the market.
Increasing demand for comfort and luxury
Customers' desire for comfort and luxury is driving up demand for high-end amenities in automobile seats. As a result, more creative and sophisticated seating choices are now being produced. Furthermore, consumers' growing desire for premium materials like leather, high-end textiles, and eco-friendly alternatives is driving the market for opulent seats and enabling producers to launch more expensive models and broaden their product lines thus propelling the markets growth.
Weight challenges
Weight reduction is a top priority for automakers in order to meet pollution standards and increase fuel efficiency. The need for lightweight materials like high-strength steel, aluminum, and advanced composites is being driven by the need to reduce the weight of passenger seats, which make up a sizable portion of an automobile's interior mass. However, the substantial R&D expenses involved in creating and evaluating these materials could have an effect on consumer prices and manufacturers' profit margins.
The COVID-19 pandemic disrupted the passenger car seat market due to supply chain challenges, halted production, and decreased vehicle sales. Lockdowns and reduced consumer spending caused a sharp decline in car demand, affecting OEM orders for car seats. Additionally, increased focus on hygiene spurred interest in antimicrobial and easy-to-clean seat materials. Overall, COVID-19 accelerated trends in health-conscious and sustainable seat design while challenging traditional supply chains.
The bucket seats segment is expected to be the largest during the forecast period
The bucket seats segment is predicted to secure the largest market share throughout the forecast period because bucket seats appeal to buyers looking for a luxury or sporty feel since they provide better comfort and support, especially in performance-oriented cars. Because they are so adaptable, manufacturers may add upscale materials, ergonomic designs, and extra functions like power adjustments, heating, and cooling. This increases their allure and stimulates demand in the luxury and mid-range markets.
The heated seats segment is expected to have the highest CAGR during the forecast period
During the projection period, the heated seats segment is expected to grow at the highest CAGR, particularly in colder climates, where heated seats improve passenger comfort, which propels market expansion. Additionally, they raise the value of the car, which makes them a desirable upgrade for buyers. A further source of income for seat makers is the aftermarket, where heated seats are popular as customers look to upgrade their vehicles' comfort amenities.
Over the forecasted timeframe, the North America region is anticipated to dominate the market share because north American regions consumers are increasingly seeking enhanced comfort and luxury features in car seats, leading to the development of advanced seat designs. The rise of electric and autonomous vehicles (EVs) has also fueled demand for innovative, lightweight, and adaptable seating solutions, with EVs prioritizing space efficiency and advanced interior features, further fuelling seat market growth.
Asia Pacific is anticipated to witness the highest rate of growth during the forecast period as the use of electric vehicles is expanding quickly throughout the Asia Pacific area, particularly in China and Japan. Manufacturers are spending money on EV chairs that are small and light. Because consumers are looking for improvements for comfort, design, or functionality, the trend of vehicle customisation has led to a thriving aftermarket for car seats, increasing demand beyond OEM sales.
Key players in the market
Some of the key players in Passenger Car Seat Market include Adient PLC , Aisin Corporation, Faurecia SE, Gentherm Incorporated, Grupo Antolin, Johnson Controls International PLC, Lear Corp., Magna International Inc., NHK SPRING Co. Ltd, Recaro Holding, Toyota Boshoku Corporation and TS Tec Co. Ltd.
In May 2024, Mitsubishi Electric, Mitsubishi Electric Mobility and AISIN Reach a Basic agreement to establish a joint venture company for handling products for next generation electric vehicles. The relevant parties will leverage its respective strengths and respond to the diversifying.
In January 2024, Magna unveiled next generation edrive at CES 2024. It offers enhanced flexibility due to its lightweight (75 kg) design and 20% reduction in height from Magna's prior generation eDrive.
In December 2023, Magna is enhancing its automated driving capabilities by joining NorthStar Telia Sweden and Ericsson's 5G innovation program for industrial enterprises. Additionally, the use of mmWave technology enables ongoing research into joint sensing and communication systems.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.