USD 909.61 million growth in the Automotive Racing Seat Market between 2023 and 2028, High-performance vehicles driving sales volume of racing seats to boost growth, 17,000+ Technavio Research Reports
NEW YORK, Jan. 28, 2024 /PRNewswire/ -- The automotive racing seat market is estimated to grow by USD 909.61 million from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 11.45% during the forecast period. However, the growth momentum will progress. High-performance vehicles driving sales volume of racing seats is the key factor driving growth. The high-performance vehicle segment is expected to grow in the next five years, especially with a boost from the performance hatchback sector. These vehicles often feature racing seat systems in the front seats and are a key focus for original equipment manufacturers (OEMs), driving advancements in engine technology, such as performance optimization, downsizing engines for efficiency, increased power output, and the use of carbon fiber materials. This demand comes from racing enthusiasts, regular consumers, and the OEM.
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Technavio has segmented the market based on Type (High-performance and Eco-performance), Application (Sports cars, Rally vehicles, and Touring vehicles), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).
- The high-performance segment is estimated to witness significant growth during the forecast period. A racing vehicle necessitates seats capable of absorbing dynamic loads caused by high speeds and sudden vehicle maneuvers. These seats are engineered to limit occupant movement within safety standards. High-performance racing seats are designed using a one-piece construction concept, adhering to the regulations of racing organizations like the Federation Internationale de l'Automobile (FIA).
By geography, the global market is segmented into Europe, North America, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive racing seat market.
- Europe is estimated to contribute 48% to the growth of the global market during the forecast period. Europe's market is in a mature phase, solidifying its position in the performance and premium segments. The region is a hub for automotive innovation, hosting major players like Mercedes-Benz, BMW, and Volkswagen. RECARO Automotive Seating, based in Germany, is a key manufacturer. Growth is tied to high-performance car sales, particularly in racing events.
Insights on the contribution of various segments including country and region wise historic data (2018 to 2022), and forecast market size (2024 to 2028) - Download a Free Sample Report
- The evolution of smart seats as the next form of high-performance design is the primary trend shaping growth.
- Growing tax on luxury vehicles is a significant challenge that affects growth.
Racing Seats: Safety, Comfort, and Performance Enhancement in Motorsport Applications
Racing seats, also known as bucket seats, are crucial for motorsport applications, offering FIA certification and safety standards compliance. Designed with features like adjustable lumbar support, harness compatibility, and side mounts, they prioritize safety and ergonomic comfort. Often made from carbon fiber for lightweight and durable construction, these seats may feature brands like Recaro, Sparco, or Bride, offering custom fit and fire-retardant materials. Ventilation systems and impact absorption further enhance safety, making them popular among track day enthusiasts and professional racing teams. Aftermarket upgrades, including seat rail kits, allow for vehicle integration, while racing simulator seats cater to simulation enthusiasts. Motorsport sponsorships drive innovation and development in this segment.
What are the key data covered in this report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth between 2024 and 2028
- Precise estimation of the size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the industry across Europe, North America, APAC, South America, and the Middle East and Africa
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Automotive Racing Seat vendors
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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Website: www.technavio.com
SOURCE Technavio
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