China Automotive Seat Market Overview:
The China
Automotive Seat Market is estimated to grow exponentially with the
increasing vehicle production globally. The increased use of seating solutions
in all types of vehicles leads to the growth of the
market. Besides, growing technological advances and developments in lightweight
seats providing increased comfort and safety for the riders substantiate the
size of the market.
Automakers are
focusing on the development of lightweight interior parts to improve fuel
efficiency. The innovation made in the vehicle seats results in the growth of
the market. Leading suppliers of seat structures bring advanced manual and
power adjuster technology and comfort components to the table, creating
intelligent concepts for the vehicle interior.
These suppliers
also use software and sensorics to connect mechatronic components. They strive
to gain comprehensive expertise in development, assembly and logistics for
complete seat systems and metal structures. COVID-19 temporarily halted the
automotive seat industry; however, the automotive industry showing positive
trends in recent years significantly influenced the financial results in 2020
and improved margins.
Despite the
complex situation, in 2020, the China Automotive Seat Market maintained its
position in several countries across the globe. In this regard, Market Research
Future (MRFR), a renowned research firm, states that the global China
Automotive Seat Market would garner exponential accruals by 2027, registering
an impressive CAGR throughout the review period (2020-2027).
China Automotive Seat Market
- Segments
The China
Automotive Seat Market analysis is segmented into type, material, technology,
vehicle type, and region. The type segment is sub-segmented into bench, bucket,
folding, and others. Among these, the sub-segment bench type seat segment
accounts for the largest market share.
The technology
segment is sub-segmented into powered, heated, powered & heated, and
standard. Among these, the sub-segment powered & heated technology accounts
for the largest market share. Heated seats are mainly
installed in high-end cars. By regions, the market is sub-segmented into the
Asia Pacific, Americas, Europe, and rest-of-the-world.
Global China Automotive Seat Market - Geographical Analysis
Asia Pacific
dominates the global China Automotive Seat Market, heading with the growing
demand for hybrid and electric vehicles in emerging APAC countries, such as
India, China, and Japan. The region witnesses the highest production of
passenger and commercial vehicles, driving the growth of the market. Moreover,
the demand for the installation of seats with the latest technology increased
the region's market share.
Europe holds the
second-biggest share in the global China Automotive Seat Market due to the
increase in the demand for high-end cars. High-end cars are fitted with updated
styled and revised tech seating, will which results in increased market size.
Additionally,
the augmenting demand from luxury or premium cars and the presence of SUV
makers in the region define the growing market landscape. Besides, major
automakers such as Audi, BMW, Porche, and Lamborghini in the UK, Germany, and
France drive China Automotive Seat Market growth.
North America
is the third-largest market for automotive seats globally. Stringent safety
norms and increasing awareness about vehicle safety push the growth of the
market. Furthermore, huge numbers of technological advancements and OEM and
aftermarket parts companies influence the region's market growth.
Global China Automotive Seat Market - Competitive Analysis
The China
Automotive Seat Market appears highly competitive, with several
well-established players forming a competitive landscape. Players focus on
product development and incorporate strategic approaches, such as
collaboration, mergers & acquisitions, product launch, and expansion to
gain a larger competitive share. They make substantial investments to drive
R&D for the development of required technologies and expansion.
Major
Players
Players active
in the global China Automotive Seat Market include Lear Corporation (U.S.),
Johnson Controls (U.S.), Faurecia (France), TS Tech Co. Ltd (Japan), Toyota
Boshoku Corporation (Japan), IFB Automotive (India), DURA Automotive Systems
(U.S.), Magna International Inc. (Canada), Aktis Engineering Solutions (India),
Tata Autocomp Systems Limited (India), Fisher and Company (Austria), Marter
Automotive Seating Systems (Turkey), TM Automotive Seating Systems Private
Limited (India), Grammer Seating Systems (Germany), and RECARO Automotive
(Germany), among others.
Industry/Innovation/Related
News:
March
26, 2021 ---- The Brose Group and Volkswagen AG signed an
agreement to establish a joint venture (JV) to develop and manufacture complete
seats, seat structures, and components, along with other vehicle interior
solutions.
Through this
deal, Brose acquires half shares of Volkswagen subsidiary SITECH. Both
companies would hold an equal (50%) share of the planned JV. The parties have
agreed that Brose would take over the industrial leadership and consolidate the
JV for accounting purposes. The transaction would be completed post antitrust
law approvals and other standard closing conditions.
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