Automotive Seats Market Worth USD 75.69 Billion By 2026
Published Date : Jan 2020
"Global Automotive Seats Market accounted for USD 62.22 Billion in 2019 and is expected to reach USD 75.69 Billion by 2026 growing at a CAGR of 2.84% during the forecast period from 2019 to 2026"
Growing demand for safety features, recovery in vehicle production, and increasing vehicle production are the factors that drive the growth of automotive seat markets. Tending customers demand towards luxurious seating systems, and development of advanced seating technologies for future vehicles creates potential opportunities for the market players operating in the market.
Genuine Leather segment are expected to have the largest CAGR during the forecast period.
Increase in premium vehicle sale globally. The global premium vehicle sales grew by 5.22% between 2015 and 2019. Developed regions such as North America, Europe are key markets for these vehicles. Also, the penetration of E, F, and SUV–D & SUV-E segment cars in the US was approximately 45-48% in 2017. Most of the vehicles from these segments have genuine leather seats as a standard feature. A few key models such as Mercedes E-Class, Lincoln Zephyr/MKZ, Range Rover Sport, Jaguar XF, Land Cruiser, and BMW 7 series feature genuine leather in the global market.
Europe is expected to grow at XX% CAGR during the forecast period.
Based on the region, Europe is driving the automotive seat market due to the high focus on vehicles loaded with luxury and comfort. Moreover, the demand for these features has increased due to improved safety requirements in Europe. Therefore, the rise in the manufacturing sector and industrialization is expected to create an opportunity for further growth in the automotive seat market.
Key Findings of the Study:
The Automotive Seats Market report contains an in-depth analysis of major drivers, opportunities, challenges, industry trends and their impact on the market. The Automotive Seats Market report also provides data about the company and its strategy. This research report also adds a snapshot of key competition, market trends during the forecast period, expected growth rates and the primary factors driving and impacting growth market data. This information will be beneficial or helpful to the decision-makers.
This report aims to help leaders by presenting an analytical study of the automotive seat market analysis along with the current trends and future estimations to depict the imminent investment pockets. The overall market potential is defined to understand the profitable trends to gain a stronger foothold. The current automotive seat market size is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.