At 1.8% CAGR, the South & Central America Automotive Seat Market is Projected to be worth US$ 1,972.01 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America automotive seat market was valued at US$ 1,709.18 million in 2022 and is expected to reach US$ 1,972.01 million by 2030, registering a CAGR of 1.8% from 2022 to 2030. Increasing adoption of powered seats in SUVs and MPVs and penetration of heated/ventilated technology in low segment cars are the critical factors attributed to the South & Central America automotive seat market expansion.

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.

On the contrary, high-cost testing processes for startups and SMEs hurdles the growth of South & Central America automotive seat market.

Based on technology, the South & Central America automotive seat market is segmented into heated, heated-ventilated, ventilated, with massage functions, and others. The ventilated segment held 32.7% share of South & Central America automotive seat market in 2022, amassing US$ 558.81 million. It is projected to garner US$ 655.69 million by 2030 to expand at 2.0% CAGR during 2022–2030.

Based on adjustment type, the South & Central America automotive seat market is segmented into electrically adjusted, memory type, and manual. The manual segment held 60.8% share of South & Central America automotive seat market in 2022, amassing US$ 1,038.86 million. It is projected to garner US$ 1,125.72 million by 2030 to expand at 1.0% 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 South & Central America automotive seat market is segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment held 73.0% share of South & Central America automotive seat market in 2022, amassing US$ 1,246.98 million. It is projected to garner US$ 1,466.68 million by 2030 to expand at 2.0% CAGR during 2022–2030.

Based on seat type, the South & Central America automotive seat market is segmented into front row, second row, and third row. The front row segment held 53.0% share of South & Central America automotive seat market in 2022, amassing US$ 905.70 million. It is projected to garner US$ 1,052.86 million by 2030 to expand at 1.9% 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 South & Central America automotive seat market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 53.9% share of South & Central America automotive seat market in 2022. It was assessed at US$ 920.45 million in 2022 and is likely to hit US$ 1,116.20 million by 2030, exhibiting a CAGR of 2.4% during 2022–2030.

Key players operating in the South & Central America automotive seat market report Adient Plc, Forvia, Lear Corp, Magna International Inc, NHK Spring Co Ltd, Tachi-S Engineering USA Inc, Toyota Boshoku Corp, and TS Tech Co Ltd, among others.