Increasing Adoption of Powered Seats in SUVs and MPVs Drives North America Automotive Seat Market
Sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs) are widely purchased by consumers who frequently travel long distances. These vehicles have gained immense demand due to features such as more accommodation, comfortable seats, and luggage space. The high seating position in these vehicles allows the driver to get a superior view of the road with good visibility, which help make better judgment while maneuvering. Seats in these vehicles alleviate the driver and passengers’ comfort for longer tours, drastically shifting the consumer's preference toward SUVs and MPVs. According to International Energy Agency (IEA), in December 2021, the number of SUVs increased by 35 million in 2021 compared to 2020 globally. Its sales increased by 10% in 2021 compared to 2020. Market players are launching vehicles with various features to cater to the growing demand from consumers for SUVs and MPVs. In August 2021, Toyota Motor Corporation (Toyota) launched a new Land Cruiser with rearward front seats and revised second and third row seats. The third row seats can be retracted to make luggage loading and unloading easier; seats also feature motorized stowing to generously increase legroom and boot space. Thus, such vehicles are driving the demand for automotive seats.North America Automotive Seat Market Overview
The North America automotive seat market is segmented into the US, Canada, and Mexico. North America is the hub of technological development. The manufacturing industry is one of the major contributors to the region’s economy. Thus, governments in the region are increasing their investments to boost their manufacturing industry further. In January 2021, the US President announced the plan to strengthen the US manufacturing sector under the “Made in America” initiative, which focused on making the manufacturing sector technologically advanced and automated. He announced an investment of US$ 300 billion for the R&D and inclusion of advanced technologies to boost the country's production output, focusing on electric vehicle production. In September 2022, the President announced the plan to achieve a target of electric vehicles accounting for a 50% share of the total vehicles sold by 2030. To meet the target, companies such as Honda, Toyota, General Motors, Ford Motor Company, and Panasonic announced investments in manufacturing in North Carolina, Missouri, Michigan, Kansas, Ohio, and elsewhere. Growing initiatives by the government and rising investments in the manufacturing of electric vehicles are generating the demand for automotive seats and fueling the North America automotive seat market in North America. Market players such as Lear Corp, Adient Plc, Magna International Inc, and Tachi-S Engineering USA Inc are engaged in product development, partnerships, mergers, and acquisitions to boost their revenue and stay competitive in the North America automotive seat market. In January 2020, Adient Plc announced an investment of US$ 23.5 million to expand its manufacturing facility in Lexington, Tennessee. In February 2022, Lear Corp completed the acquisition of Kongsberg Automotive’s Interior Comfort Systems (ICS) business unit for US$ 198 million (EUR 175 million). This acquisition helped Lear Corp advance its seat component capabilities and expand its product offerings in increasingly popular thermal and comfortable seating solutions, such as seat heating, ventilation, massage, and lumbar support.North America Automotive Seat Market Revenue and Forecast to 2030 (US$ Million)
North America Automotive Seat Market Segmentation
The North America automotive seat market is segmented into technology, adjustment type, vehicle type, seat type, and country.Based on technology, the North America automotive seat market is segmented into heated, heated-ventilated, ventilated, with massage functions, and others. In 2022, the heated segment registered the largest share in the North America automotive seat market.
Based on adjustment type, the North America automotive seat market is segmented into electrically adjusted, memory type, and manual. In 2022, the electrically adjusted segment registered the largest share in the North America automotive seat market. The electrically adjusted segment is further segmented into 4 ways, 6 ways, 8 ways, 12 ways, and others. The memory type segment is further segmented into with memory function and without memory function.
Based on vehicle type, the North America automotive seat market is segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. In 2022, the passenger vehicle segment registered the largest share in the North America automotive seat market.
Based on seat type, the North America automotive seat market is segmented into front row, second row, and third row. In 2022, the front row segment registered the largest share in the North America automotive seat market. The front row segment is further segmented into regular, bucket, and sports. The second-row segment is further segmented into bench and captain. The third-row segment is further segmented into bench and captain.
Based on country, the North America automotive seat market is segmented into the US, Canada, and Mexico. In 2022, the US registered the largest share in the North America automotive seat market.
Adient Plc; Forvia, Lear Corp, Magna International Inc, NHK Spring Co Ltd, RECARO Holding GmbH, Tachi-S Engineering USA Inc, Toyota Boshoku Corp, and TS Tech Co Ltd are some of the leading companies operating in the North America automotive seat market.
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Executive Summary
At 3.5% CAGR, the North America Automotive Seat Market is Speculated to be worth US$ 18,429.03 million by 2030.According to this research, the North America automotive seat market was valued at US$ 14,049.41 million in 2022 and is expected to reach US$ 18,429.03 million by 2030, registering a CAGR of 3.5% from 2022 to 2030. Rising demand for premium vehicles and increasing adoption of powered seats in SUVs and MPVs are the critical factors attributed to the North America automotive seat market expansion.
Premium vehicles have gained traction due to technological advancements that enhance driving experience and provide added safety features. Further, increasing disposable income has fueled the sales of premium vehicles. Advanced automotive seats are among the latest technologies incorporated in premium vehicles. Heat/ventilated seats, heating coils, and electrically adjustable seats are a few advanced seat features that add extra comfort and luxury to the consumer. Comfortable seats have become the consumer's choice while traveling long distances. Relaxed, cozy, and restful seats help passengers avoid fatigue and motion sickness while traveling. Market players are constantly unveiling additional features in the automotive seats. Thus, the aforementioned factors are increasing the demand for premium vehicles, thereby driving the North America automotive seat market growth.
On the contrary, high-cost testing processes for startups and SMEs hurdles the growth of North America automotive seat market.
Based on technology, the North America automotive seat market is segmented into heated, heated-ventilated, ventilated, with massage functions, and others. The heated segment held 43.3% share of North America automotive seat market in 2022, amassing US$ 6,078.02 million. It is projected to garner US$ 8,305.23 million by 2030 to expand at 4.0% CAGR during 2022-2030.
Based on adjustment type, the North America automotive seat market is segmented into electrically adjusted, memory type, and manual. The electrically adjusted segment held 68.0% share of North America automotive seat market in 2022, amassing US$ 9,548.36 million. It is projected to garner US$ 12,881.79 million by 2030 to expand at 3.8% CAGR during 2022-2030. The electrically adjusted segment is further segmented into 4 ways, 6 ways, 8 ways, 12 ways, and others. The memory type segment is further segmented into with memory function and without memory function.
Based on vehicle type, the North America automotive seat market is segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment held 78.6% share of North America automotive seat market in 2022, amassing US$ 11,038.75 million. It is projected to garner US$ 14,703.35 million by 2030 to expand at 3.6% CAGR during 2022-2030.
Based on seat type, the North America automotive seat market is segmented into front row, second row, and third row. The front row segment held 53.4% share of North America automotive seat market in 2022, amassing US$ 7,501.60 million. It is projected to garner US$ 10,046.14 million by 2030 to expand at 3.7% CAGR during 2022-2030. The front row segment is further segmented into regular, bucket, and sports. The second-row segment is further segmented into bench and captain. The third-row segment is further segmented into bench and captain.
Based on country, the North America automotive seat market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.4% share of North America automotive seat market in 2022. It was assessed at US$ 11,861.62 million in 2022 and is likely to hit US$ 15,807.36 million by 2030, exhibiting a CAGR of 3.7% during 2022-2030.
Key players operating in the North America automotive seat market report Adient Plc, Forvia, Lear Corp, Magna International Inc, NHK Spring Co Ltd, RECARO Holding GmbH, Tachi-S Engineering USA Inc, Toyota Boshoku Corp, and TS Tech Co Ltd, among others.
Companies Mentioned
- Adient Plc
- Forvia
- Lear Corp
- Magna International Inc
- NHK Spring Co Ltd
- RECARO Holding GmbH
- Tachi-S Engineering USA Inc
- Toyota Boshoku Corp
- TS Tech Co Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 147 |
Published | December 2023 |
Forecast Period | 2022 - 2030 |
Estimated Market Value in 2022 | 14.05 Billion |
Forecasted Market Value by 2030 | 18.43 Billion |
Compound Annual Growth Rate | 3.5% |
Regions Covered | North America |
No. of Companies Mentioned | 9 |