Global Automotive Foldable Rear Seats Market: Introduction
- Rise in need for more storage space in a vehicle has prompted automakers to install foldable seats in their vehicles
- Based on the direction of folding, there are two variants of foldable rear seats, viz., fold down seats and fold up seats. In case of a fold down seat, as the name suggests, the back rest of the seat is folded down. The seat turns a full 90 degree angle and rests on the seating area. In case of fold up seats, the seating area is folded in the upward direction, through 90 degrees angle. This enables the seat to rest on back rest are of the seat.
- An increasing number of automakers have started providing foldable rear sets in their vehicles in order to cater to demand from consumers, thereby driving the automotive foldable rear seats market
Key drivers of global automotive foldable rear seats market
- Rise in preference toward luxury vehicles is attributed to a surge in technological developments in the automobile industry. For instance, more number of consumers are preferring luxury vehicles owing to safety features, such as biometric locking, availability of more cabin space, lane assist technology, parking assist technology, incorporated in these vehicles. Moreover, manufacturers of luxury vehicles are incorporating foldable rear seats in order to increase cabin space and boost storage capacity of their vehicles.
- Owing to economic developments, road and infrastructure developments in countries, there is rapid urbanization in the countries such as China, India. This has also led to increase the disposable income and life standard of population. Therefore, more number of consumers are in pursuit to buy their own vehicle as a status symbol.
- Automakers such as Volvo, Mazda, Hyundai, Honda, Suzuki, Toyoda, Ford Motors, Mercedes-Benz and BMW have launched entry level MPVs and SUVs, hatchback, premium hatchback vehicles to target the mid-income population. These passenger vehicles are installed with either fold up or fold down foldable seats that offer larger cabin space. For instance, Ford EcoSport by Ford Motors, Innova Crysta by Toyota Motors and Honda Jazz by Honda Motors have foldable seats.
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Increase in demand for more storage space in passenger vehicles is fueling global automotive foldable rear seats market
- The back of the rear seat folds down, which provides the passenger or vehicle owner direct access to the trunk. Each side folds down separately. With only half the seat folded, a passenger still can be seated in the back seat in MPV vehicles. The seat-back can be released from inside the car or inside the trunk.
- Increasing purchase power of population in countries such as Malaysia, Thailand, India, China have shown trend towards sale of entry level MPV and SUV.. This, in turn, propels the global automotive foldable rear seats market.
Asia Pacific to dominate global automotive foldable rear seats market
- Various free-trade agreement between Europe and Asia, Americas-Asia have resulted in economic development of counties such as India, China, Malaysia, and South Korea in Asia Pacific. This has resulted in rising living standards and increase in disposable income of the population, prompting them to own vehicles. Consequently, increase in sales of automobiles is fueling the global automotive foldable rear seats market in Asia Pacific.
- Furthermore, legislations enacted by various countries and organizations are compelling automakers to increase integration of safety features in vehicles. For instance, the Government of U.K., American Academy of Pediatrics, EU Standards on Vehicle Safety by European Transport Safety Council, and safety regulation by SIAM India, provide guidelines that mandate vehicles to provide more cabin space for safety and comfort of passengers.
- All the factors mentioned above are driving global automotive foldable rear seats market in Asia Pacific
Key players operating in global automotive foldable rear seats market:
The global automotive foldable rear seats market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive foldable rear seats market are:
- Lear Corporation
- Pinnacle Industries Ltd.
- Groclin Group S.A.
- Brose Fahrzeugteile GmbH & Co. KG, Coburg
- DVI Mobile GmbH
- MG Seating Systems Pvt. Ltd.
- NTAP ADVANCED TECHNOLOGY SP. ZO.O. SP.K.
- Johnson Controls
- KOKINETICS GmbH
- GREINER GmbH
- KKOMSAN OTOM.SAN.TiC.LTD.ST¡,
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Global Automotive Foldable Rear Seats Market: Research Scope
Global Automotive Foldable Rear Seats Market, by Type of Vehicle
Global Automotive Foldable Rear Seats Market, by Foldable Area
- 50:50 Folding
- 60:40 Folding
Global Automotive Foldable Rear Seats Market, by Folding Direction
- Fold-Up Seats
- Fold-Down Seats
Global Automotive Foldable Rear Seats Market, by Sales Channel
Global Automotive Foldable Rear Seats Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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