The automotive seats market is projected to grow from USD 51.5 billion in 2021 to USD 68.4 billion by 2030, at a CAGR of 3.2% during the forecast period. Growing demand for premium vehicles, rising adoption of powered seats in mid-segment cars & SUVs and increasing demand for aftermarket seating solutions are driving the automotive seats market.
However, a projected recovery in Q1-Q2 of 2021 in vehicle production supports the growth of the automotive seats market. As a result there is an expectation that the demand for automotive seats will rise as well especially in regions like Asia Oceania and Americas.
The automotive seats market, by seat type, in terms of value, is projected to grow at a CAGR of 3.2% from 2021 to 2030. Apart from the increasing production of all vehicle types, the growing demand for cabin comfort & luxury, as well as customer willingness to pay for them, has led to the bucket seat segment to occupy the leading position in this segment.
The automotive seats market, by technology, in terms of volume, is growing at a CAGR of 3.5% during the forecast period. With increasing adoption of multiple technologies in a single package, the demand for a combination of heated, ventilated, and memory seats and heated, ventilated, memory, and massage seats is expected to grow during the forecast period.
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The trim material used in automotive seats are genuine leather, synthetic leather and fabric. Synthetic leather will be the largest market in terms of value during the forecast period. The main factor driving the growth of the synthetic leather segment is its low cost compared to genuine leather and its superior performance compared to fabric.
The automotive seats market, by seat frame material, the steel segment is estimated to lead the automotive seats market during the forecast period, in terms of value. This segment is projected to grow from at a CAGR of 2.8% during the forecast period. Due to the cost benefit offered by steel, it is the preferred material by seat manufacturers.
The automotive seats market by component, the seat frame & structure segment is estimated to hold the largest share of the automotive seats market in 2021. The rising popularity of mid and high-level SUVs and increasing demand for comfort-related components such as armrests, seat headrests, and seat height adjusters are likely to drive the growth of these components.
Automotive seats market, by vehicle type, passenger cars segment is leading the global automotive seats market. The growing preference for SUVs/MPVs, especially in developing countries, and advancements in seating technologies are mainly driven by changes in consumer preference and their willingness to pay for luxury & comfort.
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The electric & hybrid vehicle seats market, by volume, is projected to register a CAGR of 30.5% during the forecast period. The BEV market is estimated to lead the electric & hybrid vehicle seats market, by volume, with 1.4 million units in 2021. The factors attributed to the growth of the BEV seats market are high sales and high demand for advanced seating technology in hybrid vehicles.
Automotive seats market, by off-highway Vehicle, in terms of volume, is projected to grow at a CAGR of 3.5% from 2021 to 2030. The agricultural tractor segment is estimated to lead the market, in terms of volume. The cold climate in North American countries, in the Americas region, presents a positive outlook for heated and heated & ventilated seats in the off-highway vehicle segment.
Americas region is leading the automotive seats market. The automotive industry in Americas is the second-largest in the world and is dominated by domestic OEMs such as Ford Motor Company (US) and General Motors (US), along with established European and Japanese OEMs. In the US and Canada, developments in smart seating technologies such as powered and a combination of powered & heated seats witness high penetration in the passenger car segment, whereas for light-duty vehicles, powered seats have the largest share. On the contrary, the penetration of these technologies is limited in the Mexican light-duty vehicle market. South American countries have limited penetration of seat technologies, with only powered seats witnessing major penetration.
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