According to research, automotive racing seats market is projected to grow with a CAGR of 8% – 10% for the forecast period of 2021-2031.Demand for this product will be witnessed across all regional markets.
Due to the light-weighting of seats and growing popularity of racing events in developing economies, the market for this product is set to prosper.
What is Driving Demand for Automotive Racing Seats
Automotive racing seats possess a lot of features that enable them to safeguard the persons on them. They have advanced lateral support and ability to accommodate racing harnesses.
These seats are designed according to the shape of a human body to provide apt weight distribution, which helps the driver to withstand gravity force while cornering. They also come with special openings for 3, 4 or 5 point racing harnesses to increase safety in extreme driving conditions.
These seats are often lighter in weight compared to other automotive seats, which is vital for a racing car. Furthermore, these seats are universal and can be installed in any vehicle using model specific or bolt-on seat mounting brackets.
Many manufacturers are increasingly focusing on reducing fuel emission resulting in a surging development of light-weight vehicles.
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The deployment of light-weight seats reduces the overall weight of the racing cars. Thus, the availability of light racing seats will drive the sale of this commodity in the forecast period.
Environmental Concerns to Provide Growth Opportunities to Automotive Racing Seats
Concerns regarding environmental degradation and hence developments to counter these concerns have made place in the world.
Automotive racing seats are generally made of carbon fibers and the manufacturing process results in the emission of several harmful and toxic substances.
Researchers are trying to substitute these carbon fibers with natural fiber substitutes and few companies have come up with such natural fiber racing seats.
The replacement of carbon fibers will gradually become a trend and catch pace, with better alternatives coming out and innovations happening in this field in the forecast period.
Asia-Pacific Automotive Racing Seats Demand Outlook
The Asia-Pacific region is expected to grow and hold a substantial share in the global automotive racing seats market in the forecast period.
There will be a rapid rise in the market of this product in this region which is attributed to growing economies and rapid urbanization.
Ideas and interests like car racing are slowing becoming prominent in many countries like India with cinematic use of these seats increasing as well.
This will ensure the growth of the automotive racing seats sector.
North America and Europe Automotive Racing Seats Sales Outlook
North-American region’s market share is expected to grow at a steady pace during the forecast period.
This growth shall be owing to the presence of many top key players and manufacturers native to this region. Their vast presence in this region will drive the market for racing seats in this region.
The European region is expected to grow at the fastest pace in the domain of automotive racing seats and is expected to have the largest share in the global market for this product in the forecast period.
This domination can be attributed to the occurrence of many upcoming racing events and championships in this region.
The number of these events will add to the need of quality racing seats in automobiles and hence drive the market.
Who are the Key Manufacturers and Suppliers of Automotive Racing Seats
Some of the key players operating in the global market are
- BRAUM Racing,
- Cobra Seats,
- Corbeau USA LLC,
- Faurecia SE,
- Lear Corporation,
- MW Company LLC,
- OMP Racing S.p.A,
- Racetech Manufacturing Ltd.,
- Recaro Holding GmbH,
- and Sparco S.p.A among others.
In August 2020, McLaren Racing Limited along with Bcomp, came up with F1 racing seats made up of natural fiber composites instead of traditional carbon fibers Companies like these engaging in developments and innovations are contributing to the robust growth in automotive racing seats domain.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE – All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Key Segments
By Fiber Material:
- Carbon Fiber
- Natural Fiber
By Application:
- High Performance
- Eco Performance
By Region:
- North America (US and Canada)
- Latin America (Brazil, Mexico)
- Europe (Germany, Italy, France, UK, Spain, Benelux, Russia, Nordics)
- East Asia (China, Japan, South Korea)
- South Asia and Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, North Africa, South Africa)