Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Auto Ventilated Seats Market Overview
Auto ventilated seats in vehicles are meant to offer comfort and healthy experience to the occupant. Auto ventilated seats contains small seat ventilation fans which directs air through the seat unto the occupant. Many auto manufacturers are offering seat ventilation system with their cars to meet the consumer’s comfort expectations.
Market Size and Forecast
Global auto ventilated seats market is expected to witness remarkable growth over the forecast period. The market is expected to thrive on the back of growing automotive industry across the globe. Increasing sales of luxury vehicles and increased affordability of consumers to spend on vehicles are likely to be the key drivers behind the growth of market during the forecast period.
In terms of regions, the global auto ventilated seats market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Among these regions, Asia Pacific auto ventilated seats market is expected to grow at maximum CAGR in global auto ventilated seats market by the end of forecast period. The market of auto ventilated seats system in Asia Pacific region is thriving on the back of growing automotive industry in Asian countries such as China, Japan and India. Increasing number of SUVs and sedans on road is likely to augment the growth of global auto ventilated seats system market over the forecast period. Additionally, India, China and Japan are some of the major vehicle producer countries and are expected to contribute significantly in the growth of Asia Pacific auto ventilated seats market during the projected period in Asia Pacific region.CLICK TO DOWNLOAD FREE SAMPLE
Apart from Asia Pacific, North America region grabbed lion shares in auto-ventilated seats market and is accepted to witness robust growth over the forecast period. Increasing sales of luxury vehicles in U.S. and high spending by consumers on vehicle service and up gradation are expected to enhance the demand for auto ventilated seats market in this region. Apart from this, North America is the leading consumer of luxury cars and Countries such as U.S. are likely to contribute significantly in the growth of auto ventilated seats market in North America region during the forecast period.
Further, luxury vehicle segment by vehicle type grabbed major shares of market in previous years and is expected to continue this positive growth over the forecast period. A vehicle’s interior parts account for major shares of vehicle’s total cost, whereas seats account for 4-5% of vehicle’s total cost. But in case of luxury cars it could increase to 5-7% vehicle’s total cost. Manufacturers of luxury cars are focusing to increase the comfort level of their cars and this factor is expected to positively impact the growth of this segment in auto ventilated seats market over the forecasted period.
Market Segmentation
Our in-depth analysis has segmented global auto ventilated seats market into the following segments:
By Vehicle Type
By Sales Channel
By Region
Global auto ventilated seats market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The increasing sales of vehicles are the major factor which is responsible for the growth of auto ventilated seats market across all regions. In addition to this, the global automotive industry is driven by a number of factors such as rinsing consumer’s affordability, growing income of consumers and availability of easy financing options to buy a vehicle. Further, this growth in automotive industry is fuelling the growth of auto ventilated seats market.
According to OICA, 94.7 million motor vehicle productions were held to be in 2016. Moreover, this represented a Y-o-Y growth of 5.0% as compared to 2015. Additionally, automotive production is anticipated to increase on the account of rising demand. This factor signals promising growth of the auto ventilated seats market in upcoming years.
Manufacturers are installing every possible technology that can increase the vehicles comfort standards. Until now, ventilated seats are majorly found in premium vehicle but the manufactures are looking forward to offer this tech in mid-range and economy cars also. Further, growing installation of ventilated seats in affordable cars is expected to drive the growth of auto ventilated seats market at considerable pace in upcoming years.
Further, global automotive industry is booming on the account of urbanization and rising disposable income. For instance, total global production of cars in 2016 reached 72,105,435 as compared to 68,539,516 in 2015. Automakers such as Chevrolet, Ford, Nissan and Audi are installing this technology into their cars.
Growing aftermarket sales of auto ventilated seats is also strengthening the growth of market across all regions.
Although auto ventilated seats offers great experience to the occupants, it costs more to the car manufactures as compared to the ordinary seats. Also availability of other alternative auto seats can hamper the growth of auto ventilated seats market in upcoming years.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global auto ventilated seats market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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