The global automotive seat market is estimated to grow from USD 53.7 billion in 2023 to USD 58.4 billion by 2030 at a CAGR of 1.2% over the forecast period. The increasing stringency in safety regulations and industry standards, demand for quality, advanced features and cost-effectiveness, innovations & customization options in the seating segment, and increasing focus on electric vehicles are driving the automotive seats market. Asia Pacific and the Americas will remain the top regional market for this product.
Rising demand for powered seats in mid-segment cars & SUVs
Powered seats are often seen as a luxury feature, and they can add to the overall appeal of a mid-segment car. As technology advances, this feature is becoming more affordable in terms of cost, so it has a higher reach with a broader range of customers. For instance, SUVs are becoming increasingly popular, and many vehicles have powered seats. This drives the demand for powered seats in the mid-segment car market, as many buyers are looking for SUVs with the same level of comfort and luxury as a premium car. According to the MarketsandMarkets analysis, the global market for SUVs is projected to grow from USD 949.3 billion in 2023 to USD 1,221.7 billion in 2027 at a CAGR of 6.6% in terms of value.
Carpooling and sharing is growing rapidly, which has led to an increase in demand for cars, which is easy to get in and out of the cars. Powered seats can make it easier for people with disabilities or limited mobility to get in and out of a vehicle, which is why they are becoming increasingly popular among car-sharing companies. According to the demand for carpooling and car sharing, car seat manufacturers are developing and offering seats that cater to the unique requirements of carpooling and car-sharing services, ultimately driving the evolution of the vehicle seat market.
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Growing focus on autonomous cars and increasing preference for ride sharing
With the advancement of automated driving, the automotive industry is focused on research and development with driver assistance technologies. Furthermore, autonomous vehicles are less likely to be involved in accidents. Still, the OEMs offer more safety features and components in the automotive seats of a vehicle such as airbags, seatbelts, and headrests that can better protect passengers in the event of an accident. According to a study by the Victoria Transport Policy Institute (VTPI), more than 70% of fully autonomous vehicles will be used for ride-sharing, with only 30% likely to be privately owned.
In IAS L4 & L5 autonomous vehicles, the steering wheel will be replaced by various interiors more focused on the passenger and requiring little to no driver input. The durability of seats will be important as car sharing grows in popularity. Privacy will be crucial when several commuters are in the same car simultaneously. This will lead to adopting multizone climate control or separate listening zones with speakers mounted to each headrest. Seats must be secure and comfy and have the most recent technological features. Seat makers will be forced to invent or acquire new, appealing products that leverage emerging technology due to OEM and consumer preferences.
Asia Pacific is the fastest-growing region for the side curtain airbags market
Side curtain airbags are safety features that can help to protect passengers in the event of a side impact or rollover. Due to rising traffic accidents and increased government mandates, the demand for safety features like side curtain airbags has been made compulsory in this region. According to MarketsandMarkets analysis, the side curtain airbags market is the fastest growing market with a CAGR of 17.7% from 2023 to 2030, and it holds the largest market share of ~41% in terms of value in component type. In 2020, new regulations were assigned by the governing body for side curtain airbags to increase safety. For instance, the Ministry of Road Transport and Highways (MoRTH) issued a notification in 2020 making side curtain airbags compulsory for all passenger cars, vans, and SUVs manufactured after October 1, 2022. The regulation also states that all new cars manufactured after October 1, 2023, must have a minimum of six airbags, including two side airbags and two curtain airbags.
Key Market Players
The automotive seat market is consolidated with the players such as Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada) are the key companies operating in the automotive seats manufacturing.
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