The Latest Automotive Seat Industry Statistics Explained
The global automotive seat market is projected to grow at a CAGR of 1.74% during the forecast period 2020-2025.
This statistic indicates that the global automotive seat market is expected to experience a Compound Annual Growth Rate (CAGR) of 1.74% between 2020 and 2025. This growth rate represents the year-over-year growth in revenue or sales for the automotive seat market. A CAGR provides a smooth rate of growth over a specified period, in this case, five years, which allows for better forecasting and trend analysis. A growth in the automotive seat market suggests increasing demand for vehicles worldwide, which could be driven by factors such as rising vehicle production, technological advancements in automotive seating, changing consumer preferences, and expanding automotive industry in emerging economies.
Asia-Pacific accounted for 42% of the global automobile production in 2020.
The statistic indicates that the Asia-Pacific region was responsible for producing 42% of the total global automobile output in the year 2020. This suggests that the automotive industry in Asia-Pacific, which includes countries like China, Japan, South Korea, and India, is a significant player on the global stage. The high percentage reflects the region’s robust manufacturing capabilities, strong consumer demand, and established infrastructure to support automobile production. The statistic highlights the growing influence and dominance of the Asia-Pacific region within the global automotive industry, with implications for market dynamics, trade patterns, and economic development in the region and worldwide.
The global automotive seat market size was valued at USD 68.94 billion in 2020.
The statistic “The global automotive seat market size was valued at USD 68.94 billion in 2020” indicates the total monetary value of the automotive seat market worldwide in that year. This figure represents the combined revenue generated by the sales of automotive seats across various regions, countries, and manufacturers. The market size is a key indicator of the economic significance and scale of the automotive seat industry, reflecting the demand for seating products in the automotive sector. Factors such as vehicle production volumes, consumer preferences for comfort and safety, technological advancements in seat designs, and overall economic conditions can influence the market size of automotive seats. The value of USD 68.94 billion underscores the substantial market opportunity and revenue potential within the global automotive seat industry in 2020.
Premium vehicle segment accounted for 38.87% of the global automotive seat market in 2020.
The statistic indicates that in 2020, the premium vehicle segment held a significant share of 38.87% in the global automotive seat market. This suggests that a notable portion of the market demand for automotive seats was driven by consumers purchasing seats for premium or luxury vehicles. The high market share of the premium vehicle segment highlights the importance of catering to the specific needs and preferences of consumers in this segment through the development and marketing of high-quality, feature-rich automotive seats. Additionally, it signals potential opportunities for seat manufacturers and automotive companies to capitalize on the demand for premium vehicle seating solutions in the market.
Passenger cars segment held the largest share, accounting for 63.2% of the total market volume in 2020.
This statistic indicates that within the automotive industry in 2020, the passenger cars segment had the highest proportion of market volume, comprising 63.2% of the total market share. This suggests that a majority of the demand and sales within the industry were driven by passenger cars, such as sedans, hatchbacks, and SUVs. The significant market share held by passenger cars highlights their popularity and importance within the industry and likely indicates that consumers favored this segment over others like commercial vehicles or motorcycles during that year.
The seat unit production in the global automotive seat market is expected to reach 712 million units by 2026.
The statistic “The seat unit production in the global automotive seat market is expected to reach 712 million units by 2026” indicates the projected total number of automotive seats that are estimated to be produced worldwide by the year 2026. This figure serves as a key metric in predicting the demand and supply dynamics within the automotive industry, providing insights into the growth trajectory and market trends for automotive seat manufacturers. By understanding and monitoring such statistics, stakeholders in the automotive sector can make informed decisions regarding production capacity, investment strategies, and market positioning to capitalize on the projected increase in seat unit production and meet the evolving needs of consumers in the global market.
The market for ventilated seats segment in automotive seat industry is projected to grow at a CAGR of 7.9% from 2021 to 2026.
This statistic indicates that the market for ventilated seats in the automotive seat industry is expected to experience a Compound Annual Growth Rate (CAGR) of 7.9% from 2021 to 2026. This means that the demand for ventilated seats, which provide enhanced comfort and functionality in vehicles, is projected to steadily increase over the next five years. The CAGR of 7.9% reflects a consistent annual growth rate that is likely driven by factors such as consumer preference for more advanced and luxurious features in vehicles, as well as technological advancements in automotive seat design. Overall, this statistic suggests a positive outlook for the ventilated seats segment within the automotive seat industry.
Developed regions like Europe and North America are expected to be the largest markets for luxury seats by 2026.
This statistic suggests that by 2026, the demand for luxury seats is anticipated to be highest in more economically developed regions such as Europe and North America. This projection indicates a growing preference for luxury and premium seating options in these markets, likely driven by factors such as higher levels of disposable income, relative affluence, and a strong consumer emphasis on comfort and exclusivity. Companies operating in the luxury seating industry may therefore prioritize targeting these regions for market expansion and growth opportunities, capitalizing on the expected demand for premium seating products in Europe and North America in the upcoming years.
The top three players (Lear Corporation, Adient Plc, and Faurecia) account for about 66.9% of the global automotive seat market.
This statistic indicates that the market for automotive seats is highly concentrated, with the top three players, Lear Corporation, Adient Plc, and Faurecia, collectively controlling a significant portion of the market share. Specifically, these three companies account for approximately 66.9% of the total global market for automotive seats. This level of concentration suggests that these companies have a dominant position in the industry and exert significant influence over market dynamics, pricing strategies, and technological innovations within the automotive seat market. As such, the actions and decisions of these top players can have a substantial impact on the overall direction and competitiveness of the industry.
The Luxury vehicles segment is expected to reach USD 26.47 billion by 2028 in the automotive seat market.
This statistic indicates the projected growth of the Luxury vehicles segment within the automotive seat market, with an expected value of USD 26.47 billion by the year 2028. This suggests a significant increase in demand for high-end and premium automotive seats in luxury vehicles over the forecast period. Factors such as rising disposable incomes, changing consumer preferences towards luxury and comfort, and technological advancements in automotive seating are likely to drive this growth. The increasing focus on offering enhanced comfort, safety features, and advanced functionalities in luxury vehicles is expected to boost the demand for premium seating options, contributing to the overall growth of the Luxury vehicles segment in the automotive seat market.
The thermal systems segment of the automotive seat industry is expected to expand at a CAGR of 3.5% from 2021 to 2028.
The statistic indicates that the thermal systems segment within the automotive seat industry is projected to grow at a compounded annual growth rate (CAGR) of 3.5% between the years 2021 and 2028. This suggests that there is expected to be a steady increase in the utilization and demand for automotive seats equipped with thermal systems over the specified period. The growth rate of 3.5% signifies a moderate yet consistent expansion in this segment of the industry, indicating potential market opportunities and consumer interest in vehicles with thermal comfort features. Companies operating in this sector may consider investing in research, development, and marketing strategies to capitalize on this anticipated growth trend within the automotive seat market.
North America is expected to account for 23.6% of the global automotive seat market share by 2028.
The statistic indicates that North America is projected to hold approximately 23.6% of the total market share in the global automotive seat market by the year 2028. This forecast suggests that North America will play a significant role in the automotive seat market, with almost a quarter of the market share being attributed to the region. This information is important for industry stakeholders, analysts, and policymakers as it highlights the expected strength and influence of North America in the global automotive seat market over the next several years.
The memory seat segment of the automotive seat industry is expected to witness growth at a CAGR of 3.9% from 2021 to 2028.
This statistic indicates that the memory seat segment within the automotive seat industry is projected to experience a Compound Annual Growth Rate (CAGR) of 3.9% from 2021 to 2028. This forecast suggests that there will be a steady increase in demand for memory seats in vehicles over the specified time period. The CAGR represents the averaged annual growth rate that would be required for the memory seat segment to reach its projected expansion by the end of 2028. This growth rate provides valuable insights to industry practitioners, investors, and stakeholders, indicating the potential market opportunities and trends within the automotive seat industry.
China accounted for the largest share, 30.6%, of Asia Pacific automotive seat market in 2020.
This statistic indicates that China had the highest market share, comprising 30.6%, within the automotive seat market in the Asia Pacific region in 2020. This implies that China was a dominant player in the automotive seat industry compared to other countries in the Asia Pacific region. The significant market share suggests that China’s automotive seat industry experienced strong growth and demand for automotive seats in the region. Additionally, it highlights China’s importance as a key market and manufacturing hub for automotive seats in Asia Pacific.
The seat belts and airbags segment in the automotive seat market has a market share of 72.5% in 2020.
The statistic indicates that the seat belts and airbags segment holds a dominant position within the automotive seat market, capturing a substantial market share of 72.5% in 2020. This suggests that a significant majority of the automotive seats sold or utilized during that year were equipped with seat belts and airbags as standard safety features. This high market share reinforces the importance and widespread adoption of safety measures in the automotive industry, highlighting the emphasis on protecting passengers and minimizing the risk of injury in case of accidents. The strong presence of seat belts and airbags in the market further underscores the prioritization of vehicle occupant safety by both manufacturers and consumers.
By 2026, automotive seat comfort systems are projected to reach around $11,338 million.
The statistic indicates that the market for automotive seat comfort systems is expected to grow significantly by the year 2026, reaching a projected value of approximately $11,338 million. This implies an increasing demand for advanced and comfortable seating options in the automotive industry, driven by factors such as consumer preferences for enhanced driving experiences, technological advancements in seat design and materials, and a growing focus on passenger comfort and safety. The substantial projected growth in this market suggests that automotive manufacturers and suppliers will continue to invest in developing innovative seat comfort systems to meet the evolving needs and expectations of consumers, ultimately contributing to the overall growth and competitiveness of the automotive industry.
Conclusion
From the statistics presented, it is evident that the automotive seat industry is experiencing rapid growth and evolution. With increasing demand for advanced safety features and innovative designs, manufacturers are continuously striving to meet consumer needs. This industry is poised for further expansion as technological advancements and shifting consumer preferences drive the market forward.
References
0. – https://www.www.mordorintelligence.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.360researchreports.com
3. – https://www.www.prnewswire.com
4. – https://www.www.alliedmarketresearch.com
