Lear Corporation (US) and Adient PLC (Ireland) are the Leading Player in the Automotive Upholstery Market
The automotive upholstery market is projected to grow at a CAGR of 6.59% during the forecast period, to reach USD 7.74 Billion by 2025. The market growth is driven by factors such as growing vehicle production, awareness among consumers of in-vehicle comfort, and the growing focus of auto manufacturers on tranforming the automotive interiors.
Expansion is the key strategy adopted by major players to gain traction in the market. In 2016, Grupo Antolin Irausa S.A. (Spain) invested USD 37.6 million to open a new plant in Mexico. The new plant manufactures headliners, doors, pillars, and seat backs. The expansion helped the company, meet the growing demand from the automotive industry here, which is the fourth largest market for the company. In line with the expansion in Mexico, the company announced an investment of USD 370 million in a number of areas. This includes the opening of new centers to respond to recent orders, improvement of current infrastructure, and optimization of processes. The company has focused on expansions since 2014 and has opened various centers and factories across Morocco, the US, and India. Rapid technological transformation is changing automotive interiors. The advent of autonomous driving will especially change the conventional automotive interiors rapidly over the next 20 years. Grupo Antolin is focused on playing a fundamental role in this transformation and the company’s expansion strategies have been to capture market in key automotive and research and development hubs of the world.
The second most widely followed strategy by market players is partnerships and collaborations. In 2017, Toyota Boshoku Corporation (Japan) and TACHI-S CO., LTD. (Japan) entered into a business partnership to use their knowledge, know-how, and business resources to strengthen their competitiveness in the automobile seat segment. The two companies will focus on manufacturing superior automobile seats. Other companies that adopted this strategy include Lear Corporation (US), Haartz Corporation (US), and Faurecia S.A. (France).
The automotive upholstery market is dominated by a few global players and comprises several regional players. The key market players are Lear Corporation (US), Toyota Boshoku Corporation, and Adient PLC (Ireland).
Lear Corporation (US) is a leading player in the automotive upholstery market. The company offers automotive seating in its product portfolio. The company offers luxury seats, performance seats, and InTu intelligent seats, which are expected to be commercialized from 2018. The key strategies followed by the company are partnerships & agreements and expansions. In October 2017, the company started work on a new facility in Buick City complex in Flint, Michigan. The facility will employ approximately 600 workers, when it reaches full production. In September 2017, Lear Corporation and Honeywell collaborated to provide automotive software technology and infrastructure solutions to address threats associated with emerging connected and autonomous vehicle development. Lear and Honeywell are planning to pair Lear’s automotive electrical distribution systems and connected gateway expertise with Honeywell’s intrusion detection technology software and security operations centers.
Adient PLC (Ireland) is an industrial company with diversified technology product portfolio. It develops products and solutions to achieve optimum energy and operational efficiency of automotive seating and interior systems, buildings, automotive lead acid batteries and advanced batteries for hybrid and electric vehicles. The company has also ventured into production of innovative seating solutions and upholstery materials for commercial vehicles. In 2016, the company signed an agreement with AB Volvo (Sweden) to supply seat cover material and upholstery for the Volvo S90.
Related Reports:
Automotive Upholstery Market by Application (Carpets, Dashboards, Roof Liners, Seat Covers, Sun Visors & Trunk Liners), Upholstery Materials, Fabric Type (Non-woven & Woven), Integrated Technology, Vehicle Type, and Region - Global Forecast to 2025
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