London -- The global automotive seat industry is estimated to reach $66.5 billion in 2017 with average growth of 4 percent a year. Growth in the Asia-Pacific (APAC) region and the BRIC (Brazil, Russia, India, China) nations is anticipated to drive the industry during the forecast period, according to new market research from Companies And Markets.
Automotive seat suppliers make cushions, frames, slide channels, covers, pad assemblies, recliner assemblies, and motors.
The report says that volatile raw material prices -- of lead, steel, urethanes and other resins -- as well as restrictions on the availability of raw materials, energy, and product components adversely affected seat suppliers' financial performance in both 2010 and 2011.
Strong domestic demand in the Russian market and more flexible monetary policies are, however, expected to result in double-digit growth in the BRIC nations in 2012.
The report notes that the APAC region can be expected to experience robust growth in vehicle demand through 2012 and beyond, mainly driven by China and India.
Companies And Markets expects strong recovery in output in Japan and Thailand as the automotive sector increases efficiency to fulfil pent-up demand, clear backlogs, and rebuild inventory in the wake of the natural disasters that occurred in 2011.
A combination of factors such as currency exchange rate, government regulations, fluctuations in consumer taste and preferences, and safety regulations all have a significant effect on the industry dynamics, the report notes. .
The 90-page report cots £750. See www.companiesandmarkets.com for more information.