Car Power Seat Switches Market Trends

Growth Drivers

• Increasing adoption of EVs:  As the adoption of electric vehicles accelerates, so does the pursuit for premium interior features that produce a better comfort and convenience experience for the user accelerate. For instance, as per IEA data, in 2023, nearly 14 million new electric vehicles were registered worldwide, increasing the number by 35% year over year. The total number of electric vehicles on the road was estimated to be 40 million as per the sales projection of the Global EV Outlook's 2023 edition. The mutual growth of EV and the development of power seat switches creates large opportunities for expansion in the market and technological development.
• Accelerating technological advancements: The car power seat switches market allows the integration of more functionality and advanced human interfaces. New features such as touch-sensitive control, memory settings, and ergonomically designed seats have transformed the basic seat adjustment mechanism to generate an overall experience. For instance, in September 2023, Adient Plc revolutionized car seating arrangements by introducing autonomous elegance, resulting in rendering comfort clubbed with an environmentally friendly approach. It incorporates ADAS which offers a comfortable position for extended travel, and thus the market currently demands that it be integrated with electric vehicles too.

Challenges

• Substantial manufacturing expenses: High-value materials and components are required in the car power seat switch market to make the product long-lasting and safe. These costs can raise hurdles in competitiveness for such companies to increase the prices and sustain the demand for consumption by the consumers. Moreover, the intensity of demand for premium cars that integrate the latest innovations in seating technologies increases the challenge. Producers have to reconcile with quality, affordability, and durability which further compounds the manufacturer's efforts to forego advancing technologies hence influencing consumer choices and market competitiveness.  
• Supply chain disruptions:  Shortages of basic materials such as microcontrollers and raw materials on which the production in the power seat switches market depends create supply chain disruptions. For instance, in early 2020, to reduce inventory costs, many OEMs and Tier 1 suppliers placed orders for semiconductors and other vehicle components near the point of production. They reduced their chip orders when car sales declined, placing a challenge on the demand in the car power seat switches market. The semiconductor shortage affected many automotive industries. This resulted in delayed production, increased lead time, and even a loss of outputs.