NEWARK, Del: In 2023, the automotive seating accessories market is estimated to reach a valuation of US$ 21.5 billion. The market might reach US$ 30.3 billion by 2033, registering a CAGR of 3.5% during the forecast period.
The manufacturing of accessories is affected by numerous factors, including increasing demand for environment-friendly luxury and economical cars and the ability of the accessories to be customizable as per the requirements.
The increase in the demand for these products is also driven by a very wide range of economical to expensive ranges of product availability to choose from.
Seat accessories in an automotive are an integral part of the automobile manufacturing chain as they allow consumers to create a slight modification to get a personalized approach to the automobile. Along with that, it also helps in enhancing the comfort level and utility of the vehicle, enhancing the driving experience.
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The major downfall of this industry is that many luxury brands produce their own personalized accessories as per the consumer’s appreciation, which is causing a decline in buyers in the market as the preference is given to the equipment manufacturers. Another growth barrier to this industry is the heavy use of non-eco-friendly materials and the lesser probability of having them reused because of the customization.
Even with that, the use of recycled and ecological materials will create a surge in the demand of industries because of trends in automobiles inclining towards pollution-free vehicles. Recent trends of the shift of population in urban areas in European countries and Asia, along with the promotions given to the use of pollution-free vehicles increasing the demand for automobiles, will create countless opportunities for this industry.
Material enhancement and technological progress are drastically improving the corresponding manufacturing industry. For example, temperature-controlled seat covers have been a breakthrough, along with many lightweight and durable materials for product manufacturing, such as vinyl, epoxy resin, polyester, acrylic fur, etc. Owing to the rise in worldwide accident rates and improved safety regulations for the automobile, newer seat belt technologies such as active pre-tensioners and inflated seat belts will be major driving factors of the market due to their major roles in the reduction of fatalities.
Increasing demand for seating support structures due to advancements in polyurethane foams, the core material of lumbar and neck supports mounted on car seats to provide relief from back pain caused by long hours of driving is anticipated to foster the demand. Another major share of the market is covered by external attachment to the seats, such as coat or bag hangers, baby seats, additional car controls at the front and back hand rests, cup holders, and small paper, book, and laptop holding compartments. A smart and handy placement of these attachments in the design of the seat would boost the practicality and increase product recognition.
Key Takeaways from the Automotive Seating Accessories Market:
- The automotive seating accessories industry in China is predicted to reach US$ 10.1 billion by 2033, increasing at a 4.1% CAGR.
- The automotive seating accessories industry in the United States is estimated to reach a market share of US$ 3.4 billion, expanding at a CAGR of 3% by 2033.
- During the forecast period, India’s automotive seating accessories industry is expected to account for a market share of US$ 3.1 billion, securing a 4.8% CAGR.
- The automotive seating accessories industry in Japan is predicted to reach US$ 1.7 billion by 2033, increasing at a 3% CAGR.
- South Korea’s automotive seating accessories industry is predicted to achieve a market share of US$ 1.2 billion, rising at a 2.7% CAGR during the forecast period.
- With a CAGR of 3.9% from 2023 to 2033, the seat cover segment is expected to dominate the automotive seating accessories industry.
- With a CAGR of 3.8% from 2023 to 2033, the seatbelt and safety attachment segment is expected to cover the automotive seating accessories industry.
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How Does the Competition Look in the Automotive Seating Accessories Market?
The automotive seating accessories industry has a highly competitive landscape, with a significant number of players fighting for market share. Several significant participants in this industry comprise T.S. Tech Co. Ltd., Aisin, Toyota Boshoku, Adient, Lear Corporation, Aptiv, Autoliv, Denso Corporation, Toshiba Corporation, Robert Bosch, Goodbaby International Holdings, Newell brands, RECARDO holdings Gmbh along with many other players. In addition, most luxury brands have their own dedicated departments of accessory design and development, which meet the standards and expectations of the brand.
Several global and local market participants definitely add to a considerable market size. The region of Asia Pacific, in particular, contributes to a great number of local participants, making it a dominating growth region.
Segmentation Analysis of the Automotive Seating Accessories Market
By Product Type:
- Car seat covers
- Conventional Materials
- Synthetic Materials
- Seat Accessories
- Front Seat Accessories
- Rear Seat Accessories
- Seat Belts
- Hand Rests
- Alarms and controls
- Baby Seat and child locks
- Coat Hangers
- Cup holders, Laptop Compartment, and other accessories.
By Vehicle Type:
- Passenger car
- Compact
- Hatchbacks
- SUVs
- Luxury
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Sales Channel:
- Direct sales through OEM
- Indirect third-party sales
- Specialty stores
- Online stores.
- Online sales.
By Region:
-
- North America
- Latin America
- Eastern Europe
- Western Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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