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Players have Implemented Different Strategies to Maintain Their Position in Bus Seat Market and Ensure Their Long-Term Growth and Profitability
The key players in the bus seat market profiled in this report are Aisin Seiki Co. (Japan), Faurecia (France), Freedman Seating Company (U.S.), Gantherm (U.S.), Harita Seating Company (India), Lear Corporation (U.S.), Magna International (Canada), NHK Springs, Co., Ltd. (Japan), Taichi-S Co. (Japan), and Toyota Boshoku Corporation (Japan),
Players have implemented different strategies to maintain their position in this market and ensure their long-term growth and profitability. The strategy of new product development was adopted by several players to expand their product portfolio and cater to diverse application areas. Strategies such as acquisitions, mergers, agreements, and others (expansions and awards) help companies to increase their market share, expand their geographical presence, and gain recognition in the bus seat market.
Lear Corporation manufactures and distributes automotive seating and electrical distribution systems. The company focuses on the strategy of expansion; it has expanded its existing plants and set up new plants to manufacture automotive seating and cater to the increasing demand for luxury vehicles. The company has plans to open a new plant in Gistivar, Macedonia for the production of automotive seat covers. The new production facility would serve all major European OEMs and employ around 300 people. The new plant would primarily focus on leather and fabric cutting and sewing operations. Lear Corporation has also opened new corporate headquarters in Asia and a regional state-of-the-art product and technology center in Yangpu, China. This expansion has enabled the company to strengthen its presence in Asia. The new headquarters have 21,000 employees.
Faurecia has adopted expansion as its key strategy to increase its geographical presence. The company has opened a new seating plant in Wentzville, Missouri, with an investment of approximately USD 13 million. It is also expanding in Asia-Oceania, and is setting up new production facilities and sales offices to cater to the growing demand for automotive seats in this region. Faurecia has signed a joint venture agreement with Dongfeng Hongtai, which is headquartered at China and is a subsidiary of Dongfeng Motor Corporation, to cater to the passenger and commercial vehicle segments.
Bus Seat Market by Comfort Type (High, Low), Seat Type (Regular Passenger, Recliner, Folding, Driver, Integrated Child), Bus Type (Transit, Coach, School, Transfer), and Geography - Global Forecast to 2022
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