LONDON--(BUSINESS WIRE)--The automotive seats market size is poised to grow by USD 4.49 billion during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The global industrial manufacturing sector witnessed a steady increase in output over the past few years owing to the rise in trade volumes. The expansion of the industrial manufacturing sector has stimulated the demand for medium and heavy-duty vehicles for the transportation of raw materials and finished products. This in turn will drive the growth of the automotive seats market.
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As per Technavio, the integration of additional functionalities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Automotive Seats Market: Integration of Additional Functionalities
The automotive seats market witnessed a shift from manual to automatic seat adjustments over the past decade. This led to the development of additional functionalities such as massage and ventilation systems that can be operated electronically. The electronically operated seats provide increased comfort and enable seat suppliers to considerably reduce the weight of the seats, thus giving automotive OEMs greater flexibility with respect to developing lighter vehicles to maximize fuel efficiency. Thus, the integration of additional functionalities is expected to drive the growth of the automotive seats market during the forecast period.
“Factors such as the technological advancements leading to the development of automotive smart seats, and the emergence of intelligent car seats will have a positive impact on the growth of the automotive seats market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Seats Market: Segmentation Analysis
This market research report segments the automotive seats market by geography (APAC, Europe, MEA, North America, and South America) and vehicle type (passenger cars and commercial vehicles).
The APAC region led the automotive seats market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, APAC is expected to maintain its dominance and register the highest incremental growth due to factors such as the growing demand for heavy commercial vehicles and the presence of automotive manufacturing facilities in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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