Automotive Seating Systems Market Revenue, Future And Business Analysis By Forecast 2032

 As per the report published by FMI, the global automotive seating systems market is projected to have a slow-paced CAGR of 3.10% during the forecast period. The current valuation of the market is US$ 65.4 Billion in 2022. The market value of automotive seating systems is anticipated to reach a high of US$ 88.8 Billion by the year 2032.

Automotive seating systems are gaining rapid traction over the last few years, owing to the increasing demand for hybrid and electric vehicles across developing economies. The market’s growth can be primarily credited to the rapid growth of the automotive industry, bolstering the expansion of the automotive seating systems market.

According to the findings of Future Market Insights, an unprecedented spike in the demand for automotive seating systems has been witnessed due to an increasing consumer preference for mobility-on-demand services, such as car and ride-sharing. Therefore, with the rising preference for sharing cars, the durability of the seats is likely to be the most crucial aspect.

It is anticipated by the expert analysts at FMI that modular seats such as heated, powered, and ventilated applications are now getting more commercialized and are being increasingly used in most mid-end automotives. However, the high cost of automotive seating systems limits their penetration and is likely to curb the growth of the market in the coming years.

FMI has analyzed that rising safety concerns, strengthening fuel efficiency by manufacturing lightweight automotive designs, and a rise in demand for premium vehicles are majorly contributing to the propulsion of the automotive seating system market. Therefore, the automotive seating systems market is likely to have significant growth over the forecast period.

For more Information: https://www.futuremarketinsights.com/reports/automotive-seating-systems-market 

Key Takeaways from the Automotive Seating Systems Market

  • Europe is projected to dominate the global automotive seating systems market with a total of 25% market share during 2022-2032.
  • The automotive seating systems market in the European region is anticipated to advance at a CAGR of 5.5% during the forecast period.
  • North America is accounting for 19% market share for automotive seating systems in the global market in 2022.
  • The North American market for automotive seating systems is assumed to grow at a CAGR of 1.7% between 2022 and 2032. 
  • A historical CAGR of 2.10% has been witnessed in the automotive seating systems market during the period 2016-2021.

“The broad spectrum of vehicles with a confluence of growing concern for safety features is rising the demand for intelligent seating systems with superior comfort and ergonomics.” – Says an FMI Analyst

Competition Landscape in the Automotive Seating Systems Market 

The key players in the automotive seating systems market are growing research and development activities to launch innovative products and are penetrating lucrative growth opportunities in the forum.

Furthermore, several leading players are incorporating automotive seats with smart sensors, air moving devices, high-power-density heaters, and convective heaters, which is leading to the creation of more compelling products and capitalization upon new technologies.

Johnson Controls Inc., Faurecia SA, Marter Automotive Seating Systems, Toyota Boshoku Corporation, Lear Corporation, Magna International Inc., and IFB Automotive are some of the key players in the market.

Recent Developments in the Automotive Seating Systems Market:

  • In May 2021, Toyota Boshoku introduced a cabin space that offers multimodal sensory stimulation during autonomous driving to reinvigorate its occupants with a short nap and comfortably awaken them.
  • In July 2020, Faurecia officially launched its new seating joint venture with BAIC with four plants in Beijing, Chongqing, Huanghua, and Xiangtan.
  • In 2019, Lear Corporation acquired Israel-based EXO Technologies, a leading developer of differentiated GPS technology that provides high-accuracy positioning solutions for autonomous and connected vehicle applications.

Key Segments of Automotive Seating Systems Industry Survey

Automotive Seating Systems Market by Vehicle Type:

  • Automotive Seating Systems for Passenger Cars
  • Automotive Seating Systems for Light Commercial Vehicles
  • Automotive Seating Systems for Heavy Commercial Vehicles

Automotive Seating Systems Market by Seat Type:

  • Automotive Split Seat Systems
  • Automotive Bench Seat Systems
  • Automotive Split Bench Seat Systems

Automotive Seating Systems Market by Distribution Channel:

  • Automotive Seating System Sales via OEM
  • Automotive Seating System Sales via Aftermarket

Automotive Seating Systems Market by Technology:

  • Heated Automotive Seating Systems
  • Powered Automotive Seating Systems
  • Powered & Heated Automotive Seating Systems
  • Standard Type Automotive Seating Systems

Comments

Post a Comment

Popular posts from this blog

Laboratory Information Systems (LIS) Market Segmentation Application, Technology & Analysis Research Report To 2032

  Global  laboratory information system (LIS) market size   revenues are set to grow at 10.2% CAGR through 2030, according to an updated edition by Future Market Insights (FMI). The 2022-2030 version of the report builds upon the widely cited previous version, and incorporates the latest developments, notably, the impact of COVID-19 pandemic on this market. Massive technical improvements in the healthcare sector over time have included automation, big data analytics, and cloud computing. The necessity to balance administrative and caring activities is the most crucial factor in the sector. Thanks to the development of sophisticated laboratory testing technologies, this is now achievable. The cornerstone of managing primary healthcare is laboratories. Drug development and the creation of APIs take place in laboratories. It is necessary to streamline repetitive tasks like data collection, assimilation, and record maintenance in order to increase the speed at which these processes are eff
Read more

Automotive AC Compressor Market : Industry Future Set To Massive Growth With High CAGR Value By 2032

  The sales of   automotive ac compressor market share   is estimated to grow at an average CAGR of 3.9% over the forecast period. The automotive AC compressor market size is projected to reach US$ 9,342.1 Mn in 2022, and is estimated to reach US$ 13,696.2 Mn in 2032. Growing economic values in emerging countries, as well as rising purchasing power, are predicted to boost the rise of car ownership, hence driving the automotive AC compressor market share. However, high startup and instalment costs, as well as maintenance concerns, are anticipated to limit the sales of vehicle AC compressors. On the other hand, technological advancements and the introduction of new products are projected to drive the growth of the automotive AC compressor market size. The increasing use of air conditioning in passenger vehicles in developing countries are likely to drive demand for automotive AC compressors during the forecast period. Furthermore, as environmental regulations tighten, vehicle makers are
Read more

Dermatology Device Market Value With Status And Global Analysis | Future Plans And CAGR Forecast By 2032

  The global   dermatology devices market growth   was valued at US$ 4.6 billion in 2021 and is expected to grow at a CAGR of 6.5% to US$ 9.3 billion by the end of 2032. Dermatology devices market is a billion dollars market accounting for a substantial proportion of healthcare expenditure globally. Future Market Insights offers a 10-year forecast for the global dermatology devices market and provides insights on the drivers, restraints, opportunities, and trends likely to govern the global dermatology devices market during the forecast period. Factors such as rising prevalence of skin problems including acne leading to scars, increasing obesity, and growing aesthetic awareness among people are likely to contribute to the revenue growth of the global dermatology devices market over the forecast period. Economic factors such as growing healthcare expenditure, increasing disposable income per capita, and rising government support in developed economies are expected to boost the growth of
Read more