Automotive Seats Market expanding at a CAGR of 3.7% over the forecast period of
Posted by Divakar on February 18th, 2019
Key regulations in the global automotive seats market
Need: The vehicle interior air quality (VIAQ) can be adversely affected by emissions from the vehicle trim components (polyurethane and PVC foams, carpets, adhesives, etc.). This could severely impact the health and comfort of the drivers and passengers. Owing to these concerns, participants in the automotive industry are giving high importance to VIAQ, primarily due to the market image but ever more due to the increase in industry regulations. In the recent past, regulatory bodies have begun implementing regulations that is mandating the reduction of VOC emissions in the vehicle interiors.
Regulations: Directive 2004/42/EC of the European Parliament and of the Council of 21 April 2004 on the limitation of emissions of VOCs due to the use of organic solvents in certain paints and varnishes and vehicle refinishing products and amending Directive 1999/13/EC. Korea was one of the first countries to establish whole vehicle VIAQ requirements with the 2007 publication of its “Newly Manufactured Vehicle Indoor Air Quality Management Standard,” Notification No. 2007-539, issued by Korea’s Ministry of Land, Infrastructure and Transportation.
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Description: Chemicals affecting the vehicle interior air-quality can be attributed to a variety of different sources that typically include interior components and finishes employed for structural or safety purposes or for aesthetic effect, which are made of a wide variety of materials such as leather, fabrics, hard plastics, elastomers, rubber, fibers and resins. However, there are also a number of external factors that determines the actual chemical concentrations in vehicle interiors such as humidity, heat, and user habits such as smoking inside the vehicle compartment. Emission of VOCs from interior parts are one of the principal contributors to VIAQ-related issues in both new and used vehicles. These are often part of the chemical composition of materials and components used in vehicle interiors, but can also be found in material adhesives as well as in cleaning materials and compounds used in preparing and maintaining vehicle interior surfaces.
Effect on automotive interior materials: Owing to the number of regulations related to VIAQ, there is an increasing demand for use of environment-friendly materials in the interior of the vehicles. Major manufacturers are shifting focus towards marketing of interior materials with low VOC content so as to comply with regulations.
APAC to grab more than 45% revenue share of the global automotive seats market
APAC market is estimated to dominate the global automotive seats market with more than 45% market value share in 2017. This region is likely to be valued at more than US$ 25 Bn by
2017 end, expanding at a CAGR of 4.1% over the forecast period of 2017-2025. Increasing demand for hybrid and electric vehicles in the region is the primary reason for fueling the growth of automotive seats market in APAC. Europe market is estimated to grow in the global automotive seats market with more than 20% market value share, valued at more than US$ 12 Bn by 2017 end; expanding at a CAGR of 3.5% over the forecast period of 2017-2025.
Global Automotive Seats Market: Forecast
Global sales of automotive seats is estimated to be valued at more than US$ 55 Bn in 2017 and is projected to increase at a CAGR of 3.7% over the forecast period to be valued at little more than US$ 74 Bn by 2025. In terms of volume, the global automotive Seats market stood at 320,674 ‘000 Units in 2017 and is expected to reach 407,862 ‘000 Units by 2025 end. The market is slated to expand at a CAGR of 3.1% during 2017-2025 in terms of volume over the forecast period.
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About the AuthorDivakar
Joined: January 23rd, 2017
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