The global automobile industry has been undergoing a paradigm shift, with a rising motorization rate, growing trend towards high-end Sedan and SUVs, sports cars, etc. The shift is being driven by the rising income levels and expanding aspirational middle and upper-middle-class populations in emerging economies such as the Asia Pacific and the Middle East. The high-end automotive cars use finer quality seating material which is light weighted. Synthetic leathers and genuine leathers are generally high in cost which increases the overall cost of the cars. Low Voc technology is increasingly used in the seats of the automobiles which has pores through which the air is easily passed through the duct attached to the fan. Low technology helps in the ventilation of the seats providing air to the seat in the backrest and headrest area of the car. The integration of this technology in the new models of cars boosts up the sales of luxury cars. Thus, there would be an augmented demand in the sales of seats with ventilation in the future period.
According to MarkNtel Advisors’ research report, “Global Automotive Ventilated Seats Industry Analysis, 2020”, the Global Automotive Ventilated Seats market is anticipated to grow at a CAGR of approximately 6.5% during 2020-25. Due to the increased demand for luxury cars, OEMs and aftermarkets sector players are eyeing an opportunity to exploit the growing customer demand for ventilated seats. In 2019, the luxury cars segment sales estimated to be valued at around USD13.810 million. The market is set to exceed USD20 billion by 2024. Therefore, this persistent rise in luxury car sales is anticipated to promulgate the ventilated seat market.
Recently, the adoption of ventilated seats in cars has been flourishing in Asia-Pacific and Middle East regions. Consumer preferences and tastes are changing the demand for luxury cars. Also, the rising sales of premium SUVs are also seen as the key contributor to the growth of ventilated seats. The demand for ventilated seats in Japan is expected to magnify in the forecast period due to the cold weather conditions in the region. The ventilated seats are installed with the proper heating systems with the fans installed inside the porous seats of the car. Moreover, the Middle East region is an import driven market for luxury vehicles.
The emergence of Massage seats
Although, massage seat segment is on a nascent stage the demand for these seats would enhance in the forthcoming years. Owing to the improved lifestyle and high standard of living of individuals in developed countries such as US, Canada, Germany, Italy and some of the Asia-Pacific countries such as China, Japan, India, and South Korea, the mandate is expected to surge as the consumers prefer massage seats deployed in the luxury premium cars.
The OEMs dominated the sales of ventilated seats, while the aftermarket was in infancy in 2019. The same trend is set to prevail in the upcoming five years. The customer has to pay an extra amount for availing the feature and installation of the ventilated seats in the cars. The manufacturers in India and China takes initiative to build advanced and technologically designed aesthetics and interiors for the comfort of the driver.
Consolidated Market with a handful of players dominating the overall market
According to MarkNtel Advisors’ research report, “Global Automotive Ventilated Seats Industry Analysis, 2020”, the global automotive ventilated seat industry experiences the domination of leading players. The key players with a considerable market share in the global ventilated seat market include ebm-papst Mulfin GmbH & Co. KG, Faurecia SA, Gentherm Incorporated, I.G. Bauerhin GmbH, Kia Motors America Inc, Magna International, Inc, Genthern Incorporated, I.G. Bauerhin GmbH, Kia Motors America, Inc, Laird, PLC, Lear Corporation and others.
The growing emphasis of the consumer comfort coupled with the increasing technological advancements is set to boost the demand for automotive ventilated seats globally. Moreover, the demand for the ventilation seat system is projected to grow more in the extreme hot and cold regions of the world. Asia-Pacific region would see a higher rate of adoption in the coming years.