The benefits of the light vehicle seating market include comfort, safety, support, durability, affordability, and many others.
Additionally, increased consumer desire for luxury and comfort in automobiles is predicted to boost market growth. Government mandates requiring the use of airbags and seat belts in automobiles are also anticipated to have a positive effect on market growth during the anticipated time frame.
Because the materials used to make light vehicle seating are typically softer and more supportive than those used to make conventional seating, it provides passengers with more comfort. They are therefore particularly useful for long car trips. Safety is also a priority in the design of light vehicle seating. Because the materials are typically thicker and more robust, passengers are better protected in the event of an accident. Lighter vehicle seating improves the driver's field of vision, which can lower the risk of accidents. Long-term financial savings are possible with light vehicle seating because the materials used are typically less expensive than those for traditional seating. Additionally, light vehicle seating can raise a car's resale value because buyers are frequently willing to pay more for a vehicle that has comfortable and secure seating.
The market for light vehicle seats was valued at USD 51.68 billion in 2019 and is projected to grow to USD 70.86 billion by 2029, a 4.8% CAGR (2019-2029).
Some of the key factors propelling the market's expansion include the rising demand for lightweight and comfortable vehicle seating systems to enhance safety, comfort, and convenience. It is anticipated that rising consumer demand for electric vehicles will further fuel market expansion.
Technology developments have made it possible for manufacturers to create lighter and more comfortable car seats. As a result, the vehicle's overall weight has decreased and its fuel economy has increased. The market for light vehicle seating is directly impacted by the state of the world economy. Seating demand may decline during economic downturns as consumers become more price-conscious. Standards and laws like those established by the National Highway Traffic Safety Administration may have a big impact on the market for light vehicle seating. All vehicles must typically meet a certain standard of comfort and safety under these regulations. The demand for light vehicle seating may vary depending on the consumers' age, gender, income level, and other demographic factors. For instance, younger customers might favour sportier, trendier seating, whereas older customers might favour more comfortable seating. The market for light vehicle seating may also be impacted by consumer preferences for features like price, comfort, and styling. Customers might be willing to pay more, for instance, for a seat with superior styling or more comfort features.
The market for light vehicle seating is expanding, though, due to technological advancements like the use of advanced materials, advanced manufacturing techniques, and advanced designs. The market for light vehicle seating is expanding due to the rising demand for comfort and safety in light vehicles. The market for light vehicle seating is expanding due to the rising demand for luxury seating in light vehicles like SUVs, luxury hatchbacks, and luxury sedans. The market for light vehicle seating is expanding as a result of the rising demand for fuel-efficient cars. The market for light vehicle seating is expanding as a result of rising light vehicle production. The market for light vehicle seating is expanding as electric cars gain acceptance. The market for light vehicle seating is expanding as a result of the rising demand for lightweight seating in light vehicles. The market for light vehicle seating is expanding as a result of rising disposable income.
Faurecia S.A., Lear Corporation, Adient plc, Magna International Inc., Toyota Boshoku Corporation, NHK Spring Co. Ltd., Nifco Inc., Grupo Antolin, Johnson Controls International plc, and Toyoda Gosei Co. Ltd. are the major market participants in the light vehicle seating market.
The market for genuine leather seats is growing
The type of car seating that is expanding the market is genuine leather seats. The demand for this kind of seating has been increased by luxury automakers due to its superior comfort and luxury. Additionally, as consumers prefer them for their luxurious appeal, the demand for premium vehicles has been fueling the demand for genuine leather seats.
SUVs account for the largest market share
The market for light vehicle seating worldwide is primarily driven by the SUV segment, which is anticipated to grow at the highest CAGR over the course of the forecast period. Due to their superior performance and fuel economy compared to sedans, SUV demand is on the rise. The market for light vehicle seating is expanding as a result of growing SUV demand in developing nations like China and India. Another factor propelling the expansion of the light vehicle seating market is the rising popularity of SUVs among luxury automakers.
North America is in control
Currently, North America is in charge of the world market for light vehicle seating. The area has a well-established automotive infrastructure and is home to some of the biggest automakers in the world. The growth of the market for light vehicle seating has been aided by the presence of several major players in the area. Additionally, the region has a sizable consumer base, which has fueled the demand for products for light vehicle seating. The market has also been growing as a result of the introduction of cutting-edge technologies like automatic seating and sophisticated safety features.
Impact of Covid 19 on the Market for Light Vehicle Seating
The market for light vehicle seating has been significantly impacted by the Covid-19 pandemic. Light vehicle seating is in less demand as a result of the economic downturn and supply chain disruptions, which has a negative impact on prices and sales. The pandemic has had a particularly negative impact on the automotive industry, with many businesses cutting back on production and sales. Due to showroom closures and a decline in new car sales, there has also been a decline in demand for light vehicle seating. Due to the pandemic, fewer cars have been sold, which has resulted in a decline in the demand for light vehicle seating. Additionally, the price of light vehicle seating has increased as a result of the rise in production costs brought on by the scarcity of raw materials. As a result, businesses in the market for light vehicle seating are now less profitable. Delivery delays have also been brought on by the pandemic's impact on the production and supply chains for light vehicle seating. By raising the cost of production and reducing the supply of light vehicle seating, has further impacted the market.
Recent Market Trends for Light Vehicle Seating
• The purpose of these features is to improve comfort while sitting and lessen fatigue. Lightweight materials like carbon fibre and aluminium have also been used by automakers to make vehicles lighter overall, which improves the vehicle's performance and fuel economy. To improve passenger safety, automakers are also introducing more sophisticated seatbelt and airbag technologies. In order to improve the comfort and support of the passengers, automakers are also concentrating on introducing more adjustable and customizable seating configurations.
Light Vehicle Seating Market Scope
|Revenue forecast in 2029
|USD 70.86 billion
|CAGR of 4.8% during 2019-2029
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Faurecia S.A., Lear Corporation, Adient plc, Magna International Inc., Toyota Boshoku Corporation, NHK Spring Co. Ltd., Nifco Inc., Grupo Antolin, Johnson Controls International plc, and Toyoda Gosei Co. Ltd.
Key Segment of Light Vehicle Seating Market
By Type Overview (USD Billion)
• Fabric Seat
• Genuine Leather Seat
By Application Overview (USD Billion)
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa