The Global Automotive Ventilated Seats Market is projected to grow at a CAGR of 6.5% in the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The market is anticipated to grow due to rising disposable income and purchasing power parity, rising brand awareness, and OEM rivalry to offer cutting-edge features during the forecast period. Additionally, the typical driving time has increased over the past few years, making comfortable seats a necessity. This has increased the demand for such products and, as a result, their output and sales.
Moreover, such seats are increasingly popular across the globe because they provide relaxation and luxury, especially during hot weather and long-distance travel. Furthermore, the industry invests in cutting-edge technologies to satisfy strict emission and fuel efficiency regulations and lower overall vehicle weight. As a result, it has been anticipated to encourage spending on advanced seat technology, which drives market expansion, further states the research report, “Global Automotive Ventilated Seats Market Analysis, 2023.”
Segmentation Analysis
The market is broadly divided into Vehicle Type and End Users. The vehicle type is further classified into Luxury Vehicles, Mid-Sized cars, Economy cars, SUV and crossovers, Multi-purpose, Heavy Commercial Vehicles and others. Further, based on End User, the market is classified into OEM and Aftermarket.
Luxury Cars Grabbed the Lion’s Share Owing to Surging Demand for High-End Cars
Due to the increasing popularity of their advanced seating options, luxury cars have amassed a sizeable market share over time. Additionally, established nations like the US are home to significant market players like Lear Corporation and Gentherm Incorporated, which can be credited for the industry's expansion. A rise in the sales of passenger vehicles, an increase in per capita income, and a desire for a luxurious seat in mid-segment and entry vehicles are all expected to boost the segment's global revenue in the coming years.
China projects the fastest growth pace resulting in the dominance of the Asia-Pacific Market
The Asia-Pacific region expects to account for a sizable portion of the market, thanks to rising demand from countries like China, Japan, and India. The rapid increase in disposable incomes and the upgrading of lifestyles throughout the area have dramatically increased the demand for luxury cars. In addition, the demand for powered and ventilated seats is also anticipated to increase due to the overall demand for mid and high-end SUVs, making China the fastest-emerging market in this area for automotive seats.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Faurecia Services Group Sasu, Dura Automotive Systems, LLC, Lear Corporations, EBM-Papst Group, Delta Kogyo Co, Ltd., Adient PLC, Magna International Inc., Toyota Bushoku Corporation, Gnetherm Incorporated, Kia Motors America, Inc. are looking forward to strengthening their market position.
Key Questions Answered in the Research Report