The passenger car seat market is projected to grow from USD 42.5 billion in 2023 to USD 46.1 billion by 2030, at a CAGR of 1.1%

The Asia Pacific region is expected to be the largest passenger seat market, with increased demand for SUVs and luxury cars, especially in developing countries. The advancements in seating technologies are mainly driven by changes in consumer preference and their willingness to pay for luxury & comfort.

New York, July 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Passenger Car Seat Market by Type & Technology, Trim Material, Component, EV - Global Forecast to 2030" - https://www.reportlinker.com/p06474318/?utm_source=GNW The Rise in electric vehicles has also increased the demand for lightweight materials in the EV seating to increase the vehicle range.Bucket Seats is the largest seat type market.Growing passenger car production, an increase in demand for cabin comfort & demand for full-size SUVs has led to the bucket seat segment occupying the leading position in this segment. According to the International Organization of Motor Vehicle Manufacturers (OICA), the share of passenger car production in the top regions is as below:Region 2019 2020 2021 2022Asia Oceania 61% 65% 68% 70%Americas 28% 26% 24% 23%Europe 11% 9% 8% 8%Source: OICAThese seats provide better support and lateral confinement, which is important for performance driving.Furthermore, the passenger car and SUVs contributed ~56% and ~27% in 2019 in total passenger cars production, but the market share for SUVs increased by ~38%.In contrast, the percentage of passenger cars dropped to ~48% in 2022. This increase in the popularity of SUVs and crossovers due to economic growth and urbanization led to rise in demand for performance cars and, ultimately, the need for bucket seats.New and secondhand car buyers usually look for ways to personalize their vehicles, which is possible only in bucket seats, as they get various options in colors, materials, and finishes so that car buyers can choose the perfect seats according to their needs.Hence the market for bucket seats will rise in the Asia Pacific region with high production of SUVs and crossover cars.The SUV and full-sized SUV market is growing rapidly, increasing the demand for bucket seats.The powered, heated, and ventilated seats will hold the second largest market by volume in the technology type of passenger cars seats.Powered, heated, and ventilated seats will have the second fastest-growing market with a CAGR of 4.7% during the forecasted period. Powered, heated, and ventilated seats are sought-after features in SUVs and passenger cars, providing occupants with personalized comfort, temperature control, and an enhanced driving experience. Regional climate variations influence the demand for heated and ventilated seats. In colder climates, heated seats are highly desirable, providing warmth during cold winters. In hotter climates, ventilated seats offer relief from high temperatures, enhancing passenger comfort. The availability of these features in passenger cars addresses the specific needs of consumers in different regions. Also, the cost and affordability of the vehicle increase due to these features, whereas the powered seats are usually made available by automakers from mid-segment to premium cars. Hence the powered, heated, and ventilated seat segment remains the second largest compared to the powered seat segment. This segment has the highest market share of 69.5%, with a CAGR of 5.1% in the Asia Pacific region.Along with this trend, the multi-zone climate control systems trend has also gained popularity which offers integrated ventilated seats to offer individualized temperature settings for different seating positions within the vehicle.This lets passengers personalize their comfort level and experience, enhancing overall satisfaction.OEMs like Hyundai had launched the 2023 Hyundai Tucson, 2023 Toyota Highlander, and 2023 Ford Explorer offered these vehicles with these features. Hence considering these factors, the market for powered, heated, and ventilated seats will rise in passenger cars and SUVs concerning regional differences and needs.Americas is the second largest market for passenger car seat market.According to OICA, the passenger car market in the Americas was 13.8 million units in 2020, which rose by 14.5 million units in 2022 and is expected to rise by 15.2 million units in 2023. SUVs are trendy in the Americas, especially in the United States, as they are used for commuting and off-road driving, whereas pickup trucks are the second largest popular vehicle. Some of the most popular SUVs in the Americas are Ford’s Explorer, Toyota’s Highlander, and Honda’s Pilot. The trend for the SUV segment is expanding as it includes various subcategories, such as compact SUVs, mid-size SUVs, full-sized SUVs, and crossover SUVs, which has increased diversity of the consumers to choose an SUV that best suits their specific needs and preferences also SUVs are often perceived as safer due to their larger size and higher driving position, providing a sense of security for occupants also with advancements in SUV technology, including hybrid and electric options, have improved the fuel efficiency of SUVs, reducing the traditional advantage of passenger cars in this aspect due to which there is a decline in the market of passenger cars. The United States offers a federal tax credit of up to USD 7,500 on the purchase of an electric vehicle which has also raised the market for the EVs hence considering all the factors of increase in sales of SUVs and EVs will drive the demand for passenger car seats in Americas.The break-up of the profile of primary participants in the passenger car seats market:• By Company Type: Tier 1 – 80%, OEM – 20%• By Designation: Director Level – 10%, Cr Level – 60%, Others - 30%• By Region: Asia Pacific – 90%. Europe – 10.0%, America-0%, MEA- 0%Prominent companies include Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada) are the leading manufacturers of passenger car seats in the global market.Research Coverage:This research report categorizes the Passenger Car Seats Market by technology type (standard type, powered type, powered and heated, heated, powered, heated and memory, powered, heated and ventilated, powered, heated, ventilated, and memory, and powered, heated, ventilated, memory, and massage), seat type (bucket, and bench/split), by component type (armrest, pneumatic system, seat belt, seat frame and structure, seat headrest, seat height adjuster, side/curtain airbags, seat recliner, and seat track), by trim material (genuine leather, synthetic leather, fabric, and polyurethane foam), electric passenger car seats, by propulsion (BEV, PHEV, and FCEV), by region (Asia Pacific, Americas, Europe, and MEA).The report’s scope covers detailed information regarding the major factors, such as influencing factors for the growth of the passenger car seat market.A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, recession impact, and recent developments associated with the passenger car seats market. This report covers the competitive analysis of upcoming startups in the passenger car seats market ecosystem.Reasons to buy this report:The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall passenger car seats market and their subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.The report also helps stakeholders understand the market pulse.The report provides insights on the following pointers:• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the passenger car seats market.• Market Development: Comprehensive information about lucrative markets – the report analyses the passenger car seat market across varied regions.• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the passenger car seat market.• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada) among others in the passenger car seat market.The report also helps stakeholders understand the pulse of the passenger car seats market & electric vehicle market by providing information on recent trends and technologies.Read the full report: https://www.reportlinker.com/p06474318/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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