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 Passenger Car Seat Market Companies include
Major OEMs of the passenger car seats market are from Asia Pacific and the US. 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 (US):
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 (US):
Lear Corporation is among the Top Companies in Passenger Car Seat Industry and has executed many vertical integrations for key seat components to enhance growth, improve quality, increase profitability, and support its market position in just-in-time assembly. The company completed the acquisition of I.G. Bauerhin (IGB) in April 2023 to expand its suite of in-vehicle comfort technologies, including seat heating, ventilation, active cooling, and seat sensors. In November 2022, Lear strategically acquired InTouch Automation to become a supplier of Industry 4.0 technologies and complex automated testing equipment for automotive seats. The company has expanded its seat cover operations in low-cost markets, enhanced leather design capabilities, and introduced advanced products like the INTU thermal comfort seating feature. To increase production, Lear expanded its manufacturing facility in Detroit (US) in March 2023 to supply seating solutions to OEMs like Ford and Hummer EV (GM). In December 2022, it invested USD 8.2 million to expand its Zacatecas plant for seat cover manufacturing.
Related Reports:
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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