The Automotive Seats Market is projected to grow at a CAGR of 2.51%, during the forecast period from 2018 to 2025, to reach a market size of USD 73.03 billion by 2025 from USD 61.41 billion in 2018. Increasing SUV/MPV demand, growing premium vehicle sales, growing advancements in seating technologies for autonomous and semiautonomous vehicles, and increasing lightweight materials to produce seat frames and structures are some of the key growth drivers of the automotive seats market.
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The automotive seats market is dominated by a few global players and comprises several regional players. Some of the key manufacturers and suppliers in the automotive seats market are Adient (US), Lear Corporation (US), Faurecia (France), Toyota Boshoku (Japan), Magna International (Canada), TS Tech (Japan), Tachi-S (Japan), NHK Spring (Japan), and Gentherm (US). Expansion, joint ventures/collaborations, new product developments, and acquisitions are the prominent strategies adopted by these players to gain traction in the automotive seats market. In January 2018, Toyota Group parts suppliers stepped up their collaboration for next-generation technologies such as autonomous driving and electrification technologies. Aisin Group and Toyota Boshoku Corporation would jointly develop seats that can warn drivers using vibrations. Further, in September 2017, Adient GK, the Japanese subsidiary of Adient, strengthened its research & development structure. Adient is planning to install an experimental facility, at its Japan Technical Center, that creates a simulation of the vibrations produced when a vehicle is traveling with 6 degrees of freedom (up/down, right/left, etc.). Alternatively, in September 2017, Adient took over Futuris Group (US) with an acquisition amount of about USD 360 million. Futuris Group is a manufacturer of complete seating systems, frames, seat trims, headrests, armrests, and seat bolsters, and operates through 15 manufacturing units located in the North American and Asian countries.
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Adient is the leading player in the automotive seats market owing to the wide range of seating product portfolio for OE and aftermarket customers. Joint venture, new product launch, and acquisition are the key strategies adopted by Adient to retain its position in the automotive seats market. For instance, in March 2018, the company ventured with Arvind Limited (India), a global textiles producer to form Adient Arvind Automotive Fabrics. Under this venture, it is expected to produce and sell automotive fabrics to the Indian market. In February 2018, Adient entered into a joint venture agreement with Shenzhen Csema Tech Co., Ltd (China) for supplying Recaro Performance Seats (a premium automotive seating brand of Adient) to the Chinese aftermarket. Under this agreement, Adient Asia Holding Co. holds 50.01% share, whereas Shenzhen Csema Tech Co., Ltd. holds 49.99% share. This joint venture is expected to provide immense business opportunities to the company in the Chinese market. Also, it has made a few new product developments to sustain the competition. In January 2018, it introduced a lightweight seat structure at the North American International Auto Show (NAIAS) 2018, under the premium brand Recaro Automotive Seating. In the same month, it launched an aftermarket seat Sportster GT at the North American International Auto Show (NAIAS) 2018, under its premium brand Recaro.
Target Audience
- Automobile industry and related end-user industries
- Automotive Original Equipment Manufacturers (OEMs)
- Manufacturers of automotive seats and components
- Raw material suppliers
- Raw material suppliers of automotive seats and components
- Regional manufacturer associations and automobile associations
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