Increase in Demand for Premium and Luxury Vehicles to Fuel the Demand for Modular Seats
Light weighting is key trends to reduce vehicle weight, which will trigger the automotive seats market during the forecast period Light weighting is one of the key trends in the automotive industry to reduce the overall vehicle weight; the same also applies to automotive seats. As per Faurecia, the automotive seating system accounts for nearly 6% of the total vehicle weight and 5% of the total vehicle cost. According to an insight from an industry expert, the usage of materials such as magnesium, aluminum, HSS, and carbon fiber is likely to reduce the weight of seating systems by nearly 25–30%. Instead, the lighter seating systems can be equipped with additional technologies such as heated, ventilated, memory, and massage to offer advanced features. Hence, along with the growing premium vehicle sales, the demand for advanced seats is also likely to increase, bringing immense growth opportunities for this market in the coming future. BEV segment is estimated to be the fastest growing Automotive Seats Market The BEV segment is estimated to grow at the fastest rate for the electric & hybrid vehicles seats market, by technology. The BEV segment has shown a significant rise in the global demand, especially in the Asia Oceania and European regions. China, Japan, South Korea from Asia Oceania and Germany, France, Norway, and the UK from Europe have higher demand for BEVs. According to MarketsandMarkets analysis, the BEV demand in these 2 regions are projected to grow at significant CAGRs of 14.53% and 22.54% between 2018 and 2025. As Japan, South Korea, and European countries have mostly colder climatic conditions, coupled with high technological adoption rate, the demand for seats with advanced technologies such as powered, heated, ventilated, and memory are expected to also grow, providing new business avenues to the advanced automotive seating manufacturers.
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