San Jose, CA (PRWEB) January 20, 2014
Follow us on LinkedIn - Automotive seats represent an important component in a car that influences driver and passenger comfort and riding experience. A part of vehicle interior systems, automotive seats are defined as a component assembly comprising of frames, padding/cushions, seat covers, motors, recliner mechanisms and electronic and pneumatic systems, designed for occupants to sit in. Growing competition in the automotive industry over the last decade has resulted in auto OEMs focusing on vehicle safety, comfort and convenience features as key brand differentiators in the market. The platform sharing strategy adopted by automakers to reduce design and production costs has resulted in very little scope for product differentiation especially at the powertrain level. Given the reduced scope for differentiation under the bonnet and in chassis design, auto majors are increasingly targeting vehicle interiors and safety features as competitive differentiators in the market. With automotive seats accounting for over 5% to 6% of a vehicle’s total costs, auto majors are increasingly focusing on next generation intelligent seating solutions and designs to enhance quality of seating systems and comfort levels.
Demand patterns for automotive seats in the OEM market primarily relies on the health of automotive production. Therefore, higher number of cars produced translates into increased demand for automotive seats, while any disruptions in vehicle production tend to distort opportunities in the market. In line with the trend, the slowdown in automotive production as a result of the Euro debt crisis and slowing down of economic growth in developing countries, specifically China, reduced demand for automotive seats in 2012 and 2013. However, with downside economic risks now subsiding, cautious improvement is being seen as developed economies including the United States and Europe post encouraging gains in economic performance. Against this backdrop, automotive demand is set to rebound in the coming years, thus driving resurgence in automotive production, which in turn will boost demand for automotive seats in the OEM market.
Government regulations, including safety guidelines, constant changes in consumer preferences and tastes, and currency exchange rate fluctuations, are also expected to significantly influence automotive seats market in the coming years. With manufacturers beginning to focus on long-term plans to ward off the impact of economic pressures, creative designs and technology innovation will continue to come to the market, which in turn will fuel market growth. Technological advancements such as introduction of lightweight seat designs, adjustable seats, power-enabled seats, fatigue free seats, whiplash injury protection seats, and other intelligent seating solutions will boost market opportunities. Growing emphasis of automotive manufacturers on reducing weight of their vehicles to cut down fuel consumption and emissions, design spacious cabins, and conform to emission norms and cabin air quality standards will compel seat manufacturers to innovate and bring out new products. Use of light weight and environmental friendly seat material will especially gain significance in the coming years. Passenger cars meeting consumer preferences in terms of style and luxury will also generate substantial demand for innovative seats in the market.
As stated by the new market research report on Automotive Seats, Asia-Pacific represents the largest regional market worldwide, while the United States represents the fastest growing market with a CAGR of 9.2% over the analysis period. Although having its fair share of challenges, automotive manufacturing in Asia-Pacific continues to remain steady, thereby fuelling growth in the region. The region’s status as a manufacturing hub with several global automotive manufacturers setting up their manufacturing facilities in low cost destinations such as China and India, also makes Asia-Pacific a lucrative market for automotive seats.
Major players covered in the report include Brose Fahrzeugteile GmbH & Co. KG, Dymos Lear Automotive India Pvt. Ltd., Faurecia SA., Gruppo Proma, Johnson Controls Inc., Lear Corporation, Magna International, Inc., NHK SPRING Co. Ltd., Toyota Boshoku Corporation, and TS TECH Co. Ltd., among others.
The research report titled “Automotive Seats: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, Indonesia, Malaysia, South Korea, Taiwan, Thailand, and Rest of Asia-Pacific), Latin America (Argentina, Brazil, Mexico, and Rest of Latin America), and Rest of World.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Automotive_Seats_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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