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The automotive racing seat market size is forecast to increase by USD 909.61 million, at a CAGR of 11.45% between 2023 and 2028. The market growth analysis depends on various factors, including the lightweight of seats contributing to desired emission levels and fuel economy, the market for high-performance vehicles driving sales volume of racing seats, and the growing popularity of racing events in developing economies.
The report includes a comprehensive outlook on the Automotive Racing Seat Market, offering forecasts for the industry segmented by Type, which comprises high-performance and eco-performance. Additionally, it categorizes Application into sports cars, rally vehicles, and touring vehicles, and covers Regions, including Europe, North America, APAC, South America, and Middle East and Africa. The market research and growth report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
High-performance vehicles driving sales volume of racing seats is the key factor driving market growth. The growth of high-performance vehicle segment is anticipated to grow in the next five years and get an extra boost from the performance hatchback sector. This category uses complete racing seat systems, at least in the front two seats. In addition, the performance category is the main focus of all OEMs, with continuous advances taking place in engine technology. These advances include performance optimization, increased efficiency in terms of downsizing engines, increased power output, high applications of carbon fiber material, etc.
Consequently, the demand for advanced technology is high from all fronts, which includes racing enthusiasts, standard consumers, and the OEM market. Hence, growing demand for high-performance vehicles and their sales is expected to increase the adoption of automotive racing seats, which, in turn, is anticipated to drive the growth of the automotive racing seat market during the forecast period. Off-road vehicle seats are also experiencing significant traction in this evolving market landscape. Designed to withstand rugged terrain and provide superior comfort and support during off-road adventures, these seats cater to the needs of enthusiasts and professionals alike. Their durable construction and ergonomic features ensure optimal performance in challenging environments, making them essential components for off-road vehicles ranging from recreational ATVs to heavy-duty trucks. As demand grows across various automotive sectors, both racing seats and off-road vehicle seats are poised to expand their market presence, driven by innovation and evolving consumer preferences for enhanced driving experiences.
The evolution of smart seats as the next form of high-performance design is the primary trend shaping market growth. The seating market is experiencing swift innovations, particularly in response to emerging market trends and analysis. Notably, the integration of smart systems that assess physiological indicators like perspiration, brain waves, eye gaze, heart rate, and blood pressure of motorcyclists represents a significant shift. This calls for the addition of a whole new system into the vehicle. The implementation of enhanced design and safety features will have a positive impact on market growth.
Further, manufacturers of racing seat systems are seeking to integrate advanced racing systems and smart seat technology into one product. This type of system would be similar to that of a Formula One racing cockpit, which sends data about the driver's gestures and moves to the control room to monitor the condition of the driver. Hence, such a combination will considerably enhance the growth of the performance segment, thereby driving the growth of the market during the forecast period. Motor Racing Telematics (MRT) plays a pivotal role in this evolution, integrating telemetry data from various vehicle components including the racing seat. This technology enables real-time monitoring of driver performance, vehicle diagnostics, and environmental conditions during races and training sessions. By leveraging MRT, racing teams can optimize strategies, enhance safety measures, and improve overall performance on the track. The integration of smart seat technology with MRT further enhances data collection accuracy and driver feedback, contributing to advancements in automotive racing seat systems and their applications across competitive motorsports and enthusiast markets alike.
Growing tax on luxury vehicles is a challenge that affects market growth. With the intense competition among luxury vehicle manufacturers, competitive advantage is necessary. Product innovation, product quality, and price are the major factors of differentiation for vendors in the market. Being a luxury segment, where there is a presence of almost every technologically innovative feature, price is the only major option left to differentiate from rivals. However, there is a challenge for luxury vehicle manufacturers, as reducing prices would decrease the profit margin and would negatively impact the global luxury vehicle market.
Moreover, there is an increase in tax for luxury vehicles in various countries. For instance, in Australia, about 33% of the cost of a luxury vehicle is paid as tax, according to the Federal government, which includes tax and import duty. Therefore, such scenarios reduce the margin for luxury vehicle manufacturers, distributors, and retailers, which will thereby hamper the growth of the global automotive racing seat market during the forecast period.
The market research report includes the adoption lifecycle of the market forecast, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Racing Seat Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The high-performance segment is estimated to witness significant growth during the forecast period. A racing vehicle requires seats that can absorb dynamic loads that are a result of high speed and sudden maneuvering of the vehicle. The seats are designed to restrict the movement of the occupant beyond the prescribed limit as per safety standards. The design of a high-performance racing seat is based on a one-piece seat construction concept. High-performance seats are used extensively in vehicles that are part of motor sporting events, as the performance of the vehicle and the driver plays a crucial role.
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The high-performance segment was the largest segment and was valued at USD 553.34 million in 2018. The seats are designed as per the racing standards followed by various racing championship clubs such as the Federation Internationale de l'Automobile (FIA). A criterion for racing seat design is to place the driver in the most optimum position to ensure attentiveness and operation ergonomics. Factors such as the expansion of the hypercar formula racing format, rising Formula One racing championship revenues, and the rising popularity of motorsports among millennials through broadcasting and social networking platforms are expected to drive the growth of high-performance segment during the forecast period.
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Europe is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market for automotive racing seats is in the maturity phase as the region has consolidated its leading position in the performance and premium category. Europe is a major hub for automotive technology innovations. Automotive giants such as Mercedes-Benz, BMW, Volkswagen, Volvo, Pagani, Ferrari, Lamborghini, Porsche, McLaren, Jaguar, and Land Rover are based in the region. Seat manufacturer RECARO Automotive Seating is headquartered in Germany.
In addition, the production of automotive racing seats largely depends on the sales of high-performance cars. The introduction of high-performance vehicles in car racing events is expected to drive the adoption of automotive racing seats in Europe. Additionally, Europe has the world's most popular racing tracks, which is driving the growth of the automotive racing seat market in the region. Thus, the growing popularity of motorsport events in the region will increase the demand for automotive racing seats and, in turn, will boost the growth of the regional market during the forecast period. All-terrain vehicles (ATVs) are also contributing to this market dynamic, particularly in recreational and competitive off-road racing. Off-road racing events and recreational ATV usage are expanding globally, stimulating demand for specialized seats that offer durability, comfort, and safety in rugged conditions.
The automotive racing seat market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
Automotive Racing Seat Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.45% |
Market Growth 2024-2028 |
USD 909.61 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.15 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 48% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adient Plc, BRAUM Racing, COBRA SEATS, Corbeau USA LLC, Faurecia SE, Fisher and Co., GRAMMER AG, InterActiveCorp., Kirkey Racing Seats, Lear Corp., MasterCraft Safety, MW Company LLC, NRG Innovations, OMP Racing SPA, Racetech Manufacturing Ltd., RECARO Holding GmbH, Shiloh Industries LLC, Sparco S.p.A, Tata Sons Pvt. Ltd., and Toyota Motor Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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