LONDON--(BUSINESS WIRE)--The global automotive seats market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the growth of the market is increasing demand for vehicles. The demand for passenger cars is increasing in emerging economies such as Brazil, China, and India owing to the elevated purchasing power of consumers and significant economic growth. The growth in emerging markets, in line with the ongoing industrialization and global trade activity, has been dynamic. Countries such as China has maintained its position as the world’s largest automotive market. The automotive industry in India is dynamic in nature and is rapidly growing as well.
This market research report on the global automotive seats market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of holistic HMI seats as one of the key emerging trends in the global automotive seats market:
Global automotive seats market: Development of holistic HMI seats
Growing implementation of luxury features in cars has increased the comfort level of the customers and their expectations from newer vehicles as well. This is driving manufacturers to constantly develop new technologies for automotive seats. The development of intelligent seat configurations and seat adjustment features, which increases the comfort level of the driver is one such advancement that was not common previously. However, this development has still not met the need for autonomous vehicles, which are considered as the future of the automotive industry.
“The seats used in autonomous vehicles must be able to interact and gain information from the driver. This is leading to the development of more holistic human interface seats by the players. The development of holistic HMI seats are expected to be a crucial factor for the drive toward autonomous vehicles, and a trend for the smart seats market during the forecast period,” says a senior analyst at Technavio for research on automotive components.
Global automotive seats market: Segmentation analysis
This market research report segments the global automotive seats market by applications (passenger cars, LCVs, and HCVs) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 86% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with nearly 54% of the market share. The market share occupied by this region is anticipated to increase by nearly 1% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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