Seat Market

The global seat market is expected to grow, with an anticipated CAGR of +1.3% in consumption volume and +4.4% in market value from 2022 to 2030. In 2022, worldwide consumption reached 2B units, with major importing countries being the United States, China, and India. Production, imports, and exports also showed fluctuations with significant growth rates in certain years. The analysis includes trends in different types of seats, pricing fluctuations, and growth patterns among major exporting and importing countries.

Market Forecast

Driven by increasing demand for seats worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 2.2B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $171.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Seats

In 2022, approx. 2B units of seats were consumed worldwide; increasing by 1.5% compared with the year before. The total consumption volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 with an increase of 7.4%. Over the period under review, global consumption hit record highs in 2022 and is expected to retain growth in the near future.

The global seat market value reduced modestly to $121.6B in 2022, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked at $135.2B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (384M units), the United States (346M units) and India (122M units), with a combined 42% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +8.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest seat markets worldwide were the United States ($17B), China ($14.9B) and Germany ($8B), together comprising 33% of the global market. France, the UK, Democratic Republic of the Congo, Canada, Pakistan, Indonesia, Bangladesh, India, Spain and Brazil lagged somewhat behind, together accounting for a further 23%.

India, with a CAGR of +8.5%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of seat per capita consumption in 2022 were Canada (1,295 units per 1000 persons), Germany (1,155 units per 1000 persons) and the United States (1,033 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by India (with a CAGR of +7.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Seats

After four years of growth, production of seats decreased by -0.1% to 2.1B units in 2022. Over the period under review, production, however, showed slight growth. The growth pace was the most rapid in 2018 with an increase of 39% against the previous year. Global production peaked at 2.1B units in 2021, and then declined in the following year.

In value terms, seat production shrank modestly to $122.6B in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Global production peaked at $192.6B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

China (1.1B units) constituted the country with the largest volume of seat production, accounting for 54% of total volume. Moreover, seat production in China exceeded the figures recorded by the second-largest producer, India (124M units), ninefold. The third position in this ranking was held by Pakistan (93M units), with a 4.4% share.

In China, seat production expanded at an average annual rate of +1.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+8.1% per year) and Pakistan (+2.3% per year).

Imports

World Imports of Seats

In 2022, global seat imports reduced slightly to 1B units, waning by -2.8% on the previous year. Overall, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, imports reached the peak of 1B units, and then declined modestly in the following year.

In value terms, seat imports shrank to $61.2B in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. As a result, imports attained the peak of $61.8B, leveling off in the following year.

Imports By Country

The United States represented the major importing country with an import of around 357M units, which finished at 35% of total imports. Germany (63M units) took a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by the UK (4.7%). France (39M units), Belgium (37M units), Canada (36M units), the Netherlands (35M units), Australia (27M units), Japan (26M units), Spain (23M units), South Korea (20M units), Poland (17M units) and Italy (15M units) held a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Poland (+13.5%), Belgium (+8.4%), Spain (+6.6%), the UK (+6.5%), South Korea (+6.0%), the Netherlands (+3.9%), Australia (+3.9%), Canada (+3.8%), Italy (+2.3%), Japan (+1.7%) and Germany (+1.7%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +13.5% from 2012-2022. France experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United States increased by +3.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($17.6B) constitutes the largest market for imported seats worldwide, comprising 29% of global imports. The second position in the ranking was held by Germany ($5.4B), with an 8.8% share of global imports. It was followed by France, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +5.9%. In the other countries, the average annual rates were as follows: Germany (+4.4% per year) and France (+3.3% per year).

Imports By Type

In 2022, non-upholstered seats with metal frames (360M units) was the main type of seats, making up 36% of total imports. Seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture) (168M units) ranks second in terms of the total imports with a 17% share, followed by upholstered seats with metal frames (15%), upholstered seats with wooden frames (14%), swivel seats with variable height adjustments (8.7%) and non-upholstered seats with wooden frames (6.7%). Seats for motor vehicles (18M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-upholstered seats with metal frames imports of stood at +3.7%. At the same time, upholstered seats with metal frames (+5.9%), swivel seats with variable height adjustments (+5.5%), upholstered seats with wooden frames (+4.7%), seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture) (+3.0%) and non-upholstered seats with wooden frames (+2.5%) displayed positive paces of growth. Moreover, upholstered seats with metal frames emerged as the fastest-growing type imported in the world, with a CAGR of +5.9% from 2012-2022. Seats for motor vehicles experienced a relatively flat trend pattern. Upholstered seats with metal frames (+2.5 p.p.) significantly strengthened its position in terms of the global imports, while seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture) saw its share reduced by -1.5% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, upholstered seats with wooden frames ($22.3B) constitutes the largest type of seats imported worldwide, comprising 36% of global imports. The second position in the ranking was held by non-upholstered seats with metal frames ($9.5B), with a 15% share of global imports. It was followed by upholstered seats with metal frames, with a 14% share.

From 2012 to 2022, the average annual growth rate of the value of upholstered seats with wooden frames imports amounted to +4.7%. With regard to the other imported products, the following average annual rates of growth were recorded: non-upholstered seats with metal frames (+6.1% per year) and upholstered seats with metal frames (+7.3% per year).

Import Prices By Type

In 2022, the average seat import price amounted to $61 per unit, surging by 1.9% against the previous year. Overall, the import price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2016 an increase of 7.8% against the previous year. Over the period under review, average import prices reached the peak figure at $65 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was seats; of a kind used for aircraft ($5,604 per unit), while the price for non-upholstered seats with metal frames ($26 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by seats; of a kind used for aircraft (+8.7%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average seat import price amounted to $61 per unit, rising by 1.9% against the previous year. In general, the import price recorded a slight expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 7.8% against the previous year. Over the period under review, average import prices reached the maximum at $65 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($90 per unit), while Belgium ($33 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Seats

In 2022, after four years of growth, there was significant decline in overseas shipments of seats, when their volume decreased by -5.3% to 1.1B units. In general, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2018 when exports increased by 139%. Over the period under review, the global exports hit record highs at 1.2B units in 2021, and then contracted in the following year.

In value terms, seat exports dropped to $59.2B in 2022. Overall, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.6% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $66.7B, and then declined in the following year.

Exports By Country

China prevails in exports structure, accounting for 760M units, which was approx. 69% of total exports in 2022. It was distantly followed by Vietnam (64M units), comprising a 5.7% share of total exports. Poland (40M units), the Netherlands (22M units), Indonesia (21M units), Italy (18M units) and Germany (17M units) held a little share of total exports.

Exports from China increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, Vietnam (+17.2%), Poland (+10.2%), Indonesia (+8.5%) and the Netherlands (+4.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.2% from 2012-2022. By contrast, Germany (-2.5%) and Italy (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Poland increased by +4.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($24.3B) remains the largest seat supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by Poland ($5.1B), with an 8.7% share of global exports. It was followed by Italy, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +2.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+7.2% per year) and Italy (+3.5% per year).

Exports By Type

Non-upholstered seats with metal frames (331M units), upholstered seats with metal frames (232M units), seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture) (170M units), upholstered seats with wooden frames (130M units), swivel seats with variable height adjustments (106M units) and non-upholstered seats with wooden frames (98M units) represented roughly 96% of total exports in 2022. Seats for motor vehicles (23M units) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for swivel seats with variable height adjustments (with a CAGR of +5.6%), while shipments for the other products experienced more modest paces of growth.

In value terms, upholstered seats with wooden frames ($22B), upholstered seats with metal frames ($12.6B) and non-upholstered seats with metal frames ($7.1B) appeared to be the products with the highest levels of exports in 2022, with a combined 71% share of global exports. Seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture), non-upholstered seats with wooden frames, seats for motor vehicles, swivel seats with variable height adjustments, seats convertible into beds, seats; of a kind used for aircraft, seats; of cane, osier or similar materials, other than bamboo or rattan and seats; of bamboo or rattan lagged somewhat behind, together comprising a further 29%.

Seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture), with a CAGR of +7.0%, recorded the highest rates of growth with regard to the value of exports, among the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

The average seat export price stood at $53 per unit in 2022, waning by -6.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 57% against the previous year. As a result, the export price reached the peak level of $122 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was seats; of a kind used for aircraft ($6,351 per unit), while the average price for exports of non-upholstered seats with metal frames ($22 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by seats; n.e.s. in heading no. 9401, (excluding medical, surgical, dental, veterinary or barber furniture) (+4.9%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average seat export price amounted to $53 per unit, waning by -6.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 57% against the previous year. As a result, the export price reached the peak level of $122 per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($217 per unit), while China ($32 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform