The global automotive seat market is expected to experience a compound annual growth rate (CAGR) of 4% over the next five years, with the market poised to reach a value of US $66 billion by 2017.
The automotive seating industry includes cushion and back frames, slide channels, coverings, pad assemblies, recliner assemblies, and motors.
Growth in the APAC region and the BRIC nations is anticipated to drive the automotive seat market over the course of the next five years.
Strong domestic demand in the Russian market and more flexible monetary policies, however, are expected to result in double-digit growth in the BRIC nations in 2012.
The APAC region can be expected to experience robust growth in vehicle demand through 2012 and beyond, mainly driven by China and India.
Unstable raw material prices of lead, steel, urethane, and resin, as well as restrictions on the availability of raw materials, energy, and product components adversely affected financial performance within the automotive seat market throughout 2010 and 2011.
The combination of factors such as currency exchange rate, governmental regulations, fluctuations in consumer taste and preferences, and safety regulations all look set to continue to impact automotive seat market dynamics significantly.
For more information on the global automotive seat market, see the latest research: Global Automotive Seat Market Report
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