Automotive Racing Seat Market Scope
The market for this product is expected to rise due to the light-weighting of seats and the growing popularity of racing events in developing nations. Automotive racing seats are equipped with numerous elements that ensure the safety of those who sit in them. They offer superior lateral support and may accept racing harnesses. These seats are made to fit the shape of a human body and provide proper weight distribution, allowing the driver to endure the force of gravity while cornering.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BRAUM Racing (United States), Cobra Seats (United Kingdom), Corbeau USA LLC (United Kingdom), Faurecia SE (France), Lear Corporation (United States), MW Company LLC (United States), OMP Racing S.p.A (Italy), Racetech Manufacturing Ltd. (United States), Recaro Holding GmbH (Germany) and Sparco S.p.A (Italy) |
CAGR | % |
Mergers and acquisitions, expansions, investments, new service launches, and collaborations are some of the companies' preferred market-exploration strategies. The company is contributing its share to increasing the company’s growth. The major key players like BRAUM Racing, Cobra Seats, Corbeau USA LLC, and Faurecia SE are contributing their share for increasing company growth. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Automotive Racing Seat market throughout the predicted period.
BRAUM Racing (United States), Cobra Seats (United Kingdom), Corbeau USA LLC (United Kingdom), Faurecia SE (France), Lear Corporation (United States), MW Company LLC (United States), OMP Racing S.p.A (Italy), Racetech Manufacturing Ltd. (United States), Recaro Holding GmbH (Germany) and Sparco S.p.A (Italy) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive Racing Seat market by Type , by Application (High Performance and Eco Performance) and Region with country level break-up.
On the basis of geography, the market of Automotive Racing Seat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2023, Lear Corporation, a global automotive technology leader in Seating and E-Systems, announced that I.G. Bauerhin (IGB) further expands the company's range of in-vehicle comfort technology electronic control modules with more than 4,600 employees at 9 manufacturing plants in 7 countries.
In May 2021, Toyota Boshoku devised a cabin atmosphere that provides multimodal sensory stimulation to revitalize and awaken its occupants pleasantly while autonomous driving. and In Aug 2020, Lear Corporation's INTU Thermal Comfort with Climate Sense technology is a revolutionary intelligent seating solution developed in conjunction with Gunther. Its clever software tries to generate the best possible personal environment by utilizing ambient cabin factors for maximum comfort.
Influencing Trend:
Growing Safety Concerns because of Rising Accident Rates
Market Growth Drivers:
The growing popularity of the racing event in a developing country and Rising adoption of powered seats in mid-segment cars
Challenges:
Manufactures Are Focusing On Reducing Fuel Emission and Challenges Faced By Textile & Seat Trim Material Suppliers
Restraints:
High Cost for Advanced Modular Seats and Strict Government Regulations
Opportunities:
Increasing Investment in Hybrid and Electric Cars and Increasing Demand for Emerging Countries Where Racing Seats Market Continues To Grow In Steady Pace
Key Target Audience
Industry Association, Downstream Vendors, Marketing & Consulting firms, Venture Capitalists, Government & Regulatory Bodies and Investors