Automotive Seat Track Market Forecast and CAGR
According to Fact.MR’ latest report, the automotive seat track market is expected to grow steadily between 2021 and 2031 at a CAGR of 4%-6%. Owing to the impact of Covid-19, the market will rebound gradually in the short term, with an ambitious long-term growth outlook. The automotive seat track market will be driven by rising vehicle output and demand for passenger cars and light vehicles.
What is Driving Demand for Automotive Seat Track?
Automotive seat tracks are mechanical devices that connect to car seats and enable the driver and the co-passenger to change his or her seating posture. The demand for automobile seat track has increased due to rapid advancements in technology, enhanced safety features, increased net disposable incomes, and growing vehicle production.
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The car control system is integrated with the latest technology such as seat adjustment features, which improves the user experience, driving the demand for global automotive seat track.
Electric vehicles are a profitable industry with a lot of room for expansion. Electric cars are next-generation vehicles with cutting-edge technology. These vehicles are built with safety and comfort in mind. Volvo, Tata, Hyundai, and Tesla are working with seat track manufacturers to add automatic seat tracks that not only provide protection but also improve the driving experience.
Electric Seat Tracks Likely to Elevate the Sales in the Premium and Luxury Passenger Car Segment
The COVID-19 induced slowdown has had an effect on global automotive production and sales. This has resulted in a drop in sales of automotive parts and materials. Over the course of one to two financial years, the automotive industry will rebound, resulting in increased demand for the product’s market. This has enabled manufacturers with time, to concentrate on new technologies. Electric seat tracks are expected to have an increasing market share in the future, as the production trend of intelligent, scientific, and comfortable car seats continues.
US and Canada Automotive Seat Track Demand Outlook
Throughout the forecast period, it is expected that the North America will remain one of the most profitable markets for automotive seat track. The strength of car seat tracks should be increased, according to the National Traffic and Motor Vehicle Safety Act passed by the United States government in 1966. This included specifications for the proper design and protection of car seat assemblies.
The presence of key vendors in this area, as well as an increasing preference for seat tracks, increased net disposable income, increased luxury spending, and a growing need for comfort, are all driving demand for seat tracks.
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Europe Demand Outlook for Automotive Seat Track
Due to the presence of leading manufacturers in the region, the Europe will generate high demand for automotive seat track during the forecast period, with UK and Germany expected to occupy a significant share of the market. Europe is expected to be one of the prominent market for automotive seat track, owing to increased vehicle production and sales.
Because of the growing demand for mid- and high-end SUVs, demand for electric seat tracks is expected to increase in this area. Europe hosts a large number of industry participants, with the majority of international industry leaders forming joint ventures with local manufacturers.
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Who are the Key Manufacturers and Suppliers of Automotive Seat track?
Some of the leading manufacturers and suppliers include
- Johnson Controls
- DURA Automotive System
- IFB Automotive
- SHIROKI Corporation
- Brose Fahrzeugteile
- TS Tech Atwood Mobile Products
- Fisher and Company
- Imasen Electric Industrial
- Toyota Boshoku
Market expansion to expand geographical scope, mergers & acquisitions, investment in R&D to build new systems, joint ventures, alliances, branding & promotion, technology adoption, and building entry barriers for new players are some of the key strategies employed by these companies.
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