Automotive Seats Market

Market Leaders - Automotive Seats Market

The global automotive seat market size is projected to grow to USD 60.0 billion by 2025 from USD 51.9 billion in 2020, at a CAGR of 2.9%. The inclination of consumers towards more comfort and luxury features would drive the automotive seat market.

Supply contracts/Agreement/Partnership and expansion have been the key strategies adopted by major players in the automotive seat market from 2018 to 2020. In January 2019, Lear Corporation and Gentherm announced a strategic joint development partnership to drive the future of passenger thermal seating solutions. The partnership is for the advanced development of a highly integrated, modular heat and cool solution for Lears Intu seating system that is expected to provide world-class passenger comfort. In November 2018, Faurecia announced entering into a strategic partnership agreement with one of Chinas largest car manufacturers, FAW Group. The collaboration was expected to help develop solutions and services for the cockpit of the future, for an intuitive and personalized user experience - especially for Hongqi, the luxury brand of FAW. The two groups were also expected to collaborate in the fields of industrial design and perceived quality for this brand. Both companies were expected to work towards the development of connected, versatile, and predictive solutions for seats and respond to different cases of uses and modes of driving. They were also expected to develop equipment for zero-emission and air quality improvement technologies for passenger and commercial vehicles, in the field of battery and fuel cell systems as well as lightweight composites.

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Global and regional players dominate the automotive seat market. Adient Plc is expected to be a leading player in the automotive seat industry. The company is a globally renowned provider of automotive seat. The company follows strategies of Supply contracts/Agreement/Partnership and expansion to gain a competitive edge in the automotive seat market. In March 2020, Adient entered into an agreement to sell its automotive fabrics manufacturing business, including its lamination business, to Sage Automotive Interiors, an Asahi Kasei company, for USD 175 million. This process is expected to be completed by the end of FY 2020. The employees. In January 2020, Adient announced an investment of USD 23.5 million for the expansion of its manufacturing facility in Lexington, Tennessee. The expansion is the company’s second significant investment in Henderson County during the last two years.

Lear Corporation is another leading player in the automotive seat market. The company focuses on development strategies toward expansion. In June 2019, Lear Corporation invested USD 30 million for a new 240,000square-foot assembly and subassembly plant in Hammond, Indiana, where it is expected to continue as a supplier to Ford’s Chicago Assembly Plant. Lear is expected to begin commercial production at the end of June 2019, to supply 375,000 seats per year to the Chicago Assembly Plant for the Ford Explorer.

Related Reports:

Automotive Seats Market by Type & Technology (Heated-Powered, Heated-Ventilated, Heated-Memory, Heated-Ventilated-Memory, Heated-Ventilated-Memory-Massage), Trim & Frame Material, Component, Vehicle (ICE, Electric,OHV) and Region - Global Forecast to 2025

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Report Code
AT 3710
RI Published ON
10/16/2020
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