The global passenger car seat market size was valued at USD 42.5 billion by 2023 and is expected to reach USD 46.1 billion in 2030, at a CAGR of 1.1% during the forecast period 2023 to 2030. The increasing stringency in regulations and safety standards for vehicles, technological advancements & innovation in the seating segment, and increasing focus on electric vehicles and others are driving the passenger car seat market. Asia Pacific and the Americas will remain the top regional market for this product.
Powered seats are the fastest-growing technology segment.
The powered seats will have the fastest growing CAGR, with 5.0% during the forecast period. Powered seats are usually installed in the front row of the vehicle. It is equipped with an electric motor that controls the movement and positioning of the seat with the help of a control switch like a small joystick or physical buttons mounted on the lower side of the seat, allowing the driver to adjust the seating position in several ways. The power seats offer seat height, seatback recline, lumbar support, and headrest position. Powered seats are part of the broader trend of integrating advanced features and technology into vehicles where consumers are willing to pay a premium for these added features. For instance 2020, the global median household disposable income was around USD 10,207, according to the World Bank, which increased the disposable income. Powered seats were previously available in high-end cars, but now they are also available in mid-segment vehicles. Technological advancements have led to the developing of more efficient and cost-effective power seat systems.
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Seat belts will dominate the passenger car seats component market.
Seat belts are one of the most important safety features in passenger cars, and they account for the highest passenger car seat market share in components. In 2022, according to MarketsandMarkets the global market for seat belts in passenger cars had a volume of 286.2 million units and will reach 320 million units by 2030, and it is expected to grow at a CAGR of 1.6%. Seat belts are highly effective in reducing the risk of injury or death in a car crash. According to the National Highway Traffic Safety Administration (NHTSA) 2021, seat belts reduce the risk of death by 45% and the risk of serious injury by 50%. Third, seat belts are required by law in most countries. All new passenger cars sold in these countries must have seat belts. The increasing number of passenger cars sold worldwide and the growing awareness of the importance of seat belts in preventing injuries in car crashes. In addition, new technologies, such as active seat belts, are expected to increase the demand for seat belts in passenger cars. Active seat belts are designed to tighten automatically in the event of a crash, which can help to reduce the severity of injuries. Passenger car safety systems manufacturers continue to invest in research and development to introduce advanced seat belt technologies, driving innovation and further expanding the market’s potential.
Asia Pacific is the fastest-growing market for side and curtain airbags for passenger car seats.
The demand for side and curtain airbags is high because of the increased demand for safety features in vehicles, the rising number of road accidents, and the growing number of government regulations mandating airbags in vehicles. According to MarketsandMarkets, the Asia Pacific side and curtain airbags market is projected to grow at a CAGR of 26.4% from 2023 to 2030. It is expected to account for 46.6% of the global passenger car seat market share by 2030. Few new regulations have been implemented in the Asia Pacific region for side and curtain airbags. For instance, In April 2021, India’s road transport ministry mandated the installation of side and curtain airbags in all passenger cars. This applied to all vehicles manufactured after April 1, 2021. In China, the Ministry of Industry, and Information Technology (MIIT) has announced plans to mandate the installation of side and curtain airbags in all passenger cars by 2025. This regulation is still in the draft stage but is expected to be finalized soon.
Key Market Players
The passenger car seat market is consolidated. Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada) are the key companies operating in passenger car seat manufacturing. These companies adopted new product launches, partnerships, and joint ventures to gain traction in the market.
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