The passenger car seat market is estimated to grow from USD 42.5 billion in 2023 to USD 46.1 billion by 2030 at a CAGR of 1.1% over the forecast period. The growth of this market can be attributed due to rising adoption of powered seats in mid segments and SUVs with growing demand for premium cars is driving the passenger car seats market.
Major OEMs of the passenger car seats market are from Asia Pacific and the US. The top 5 OEMs of the automotive turbocharger market are like Adient Plc (US), Faurecia (France), Lear Corporation (US), Toyota Boshoku Corporation (Japan), and Magna International (Canada). Key passenger car seats key players are investing in new technologies such as lightweight material, vegan & synthetic trim material, and advanced features in seats to improve fuel efficiency and reduce environmental impact form genuine leather.
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Adient Plc operates majorly through two business segments, namely, 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 electric vehicle, the company had received an order for manufacturing of seats, so in August 2021, Adient Plc had invested USD 24 million for two projects in Mexico to manufacture seats which was going to be used in Ford’s electric Mach-e and electric Ford Explorer. In August 2019, the company had established a plant in Serbia with a USD 20 million investment which would strategically enhance its presence in Europe. To grow the startups potentially, Adient Plc had made a strategic partnership with EnerTech Capital (US) by making investment and funding in startups for innovating the products offered in seating. The company had also supply chain agreement with H2 Green Steel (Sweden) in September 2022 for supplying fossil-free steel with a low carbon footprint from 2026 onwards which will reduce the CO2 by 95% for protecting the environment.
Lear Corporation has executed into many vertical integrations for key seat components which would enhance the growth, improve quality, increase profitability, and support its current market position in the just-in-time assembly. The company had completely acquisition I.G. Bauerhin (IGB) in April 2023, for expanding its suite of in-vehicle comfort technologies where they will become privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules. Also, in November 2022 they had made a strategic acquisition of InTouch Automation for becoming 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 the acquisition of Guilford Mills) and added industry-leading leather designs and development and manufacturing capabilities (through the acquisition of Ottawa) from 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 their production capacity, the company has started expanding their manufacturing facility in Detroit (US) from 13th March 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 for expanding their Zacatecas plant for increasing their seat cover manufacturing process.
Passenger Car Seat Market by Type & Technology (Powered, Heated, Ventilated, Memory, Massage), Trim Material (Genuine, Synthetic, Fabric, Foam), Component (Armrest, Belt, Headrest, Height Adjuster, Recliner), EV (BEV, PHEV, FCEV) - Global Forecast to 2030
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