Adient Plc (US) and Lear Corporation (US) are leading players in Automotive Seat Market
Automotive seat market is estimated to grow from USD 53.7 billion in 2023 to USD 58.4 billion by 2030 at a CAGR of 1.2% over the forecast period. The growth in this market is due to an increase in the adoption of powered seats in mid-segments and SUVs, with growing demand for premium cars driving the automotive seats market.
Major OEMs of the automotive seat market are from Asia Pacific and the US. The top 5 OEMs of the automotive seat market are Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada). Key players in automotive seats are investing in new technologies such as lightweight material, vegan & synthetic trim material, and advanced seat features to improve fuel efficiency and reduce genuine leather’s environmental impact.
To know about the assumptions considered for the study download the pdf brochure
Adient Plc operates majorly through two business segments: seating and interiors. The company designs, manufactures, and markets a complete range of seating systems and components for passenger cars, commercial vehicles, light trucks (including vans and pick-up trucks), and sports/crossover utility vehicles. The company has started recycling raw materials to help to reduce the raw material cost. With the trend for an electric car, the company received an order to manufacture seats, so in August 2021, Adient Plc invested USD 24 million for two projects in Mexico to manufacture chairs that would be used in Ford’s electric Mach-e and electric Ford Explorer. In August 2019, the company established a plant in Serbia with a USD 20 million investment to strategically enhance its European presence. To potentially grow the startups, Adient Plc had made a strategic partnership with EnerTech Capital (US) by investing and funding startups to innovate the products offered in seating. The company also had a supply chain agreement with H2 Green Steel (Sweden) in September 2022 for supplying fossil-free steel with a low carbon footprint from 2026 onwards, reducing the CO2 by 95% for protecting the environment.
Lear Corporation has executed many vertical integrations for key seat components, which would enhance growth, improve quality, increase profitability, and support its current market position in the just-in-time assembly. The company ultimately acquired—Bauerhin (IGB) in April 2023 to expand the in-vehicle comfort technologies and become a privately held supplier. Also, in November 2022, they strategically acquired InTouch Automation to become a supplier of Industry 4.0 technologies and complex automated testing equipment, where they will be producing automotive seats. The company has expanded its seat cover operations in low-cost markets (mainly through acquiring Guilford Mills) and added industry-leading leather designs and development and manufacturing capabilities (through the acquisition of Ottawa) in 2019. The company is working towards providing high-end and technologically advanced products, such as its new INTU thermal comfort seating feature for indoor climate management. To increase its production capacity, the company has started expanding its manufacturing facility in Detroit (US) from March 13, 2023, to offer seating solutions to OEMs like Ford (US) and Hummer EV (GM) (US). Also, in December 2022, the company invested USD 8.2 million in expanding its Zacatecas plant to increase its seat cover manufacturing process.
Related Reports:
Automotive Seats Market by Type & Technology (Powered, Heated, Ventilated, Memory, Massage), Seat Trim OE & Aftermarket (Synthetic & Genuine Leather, Fabric), Frame, Component, Vehicle EV, OHV, ATV, LSV) - Global Forecast to 2030
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
