Global Light Vehicle Seating Market Analysis and Industry Forecast, 2016 – 2023
It accounted for over 30% of the industry share. Europe seating manufacturers accounted for more than 13% of the total industry share in the same year. Novel designs using new materials, foams and assembly mechanisms are anticipated to drive the industry demand over the forecast period.
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Technological innovation leads to folding of seats into the roof and floor. Customers are increasingly looking for additional flexibility with seating systems, mostly with second and third row configurations. Vehicle seating arrangement evolution according to the needs and wants of the consumers is expected to boost the global light vehicle seating market demand over the coming few years.
Flexibility, safety and comfort are the prime drivers for the industry. The seats of the vehicles are now safer and comfortable than before. Developments and innovation in the global vehicle seating market are taking place at an extremely rapid rate. The original equipment manufacturers are focusing to differentiate their offerings related to the seat designs owing to intense completion in the industry. Other than the seating ergonomics, the manufacturers are also focused on diverse seat fabrics, enhancing integrated fragrances and generating added waterproof and breathable surface designs in order to augment the feelings of well-being.
Currently, the major players are integrating seat heaters with the vehicle which would warm almost each part of the seat in order to offer comfort to the customers. While, the seat heating industry is increasing, demand for seat cooling is anticipated to gain momentum over the forecast period.
Large industry players are practicing backward integration and are acquiring small manufactures of seating parts in order to advance their supply chain process. For instance, Lear acquired Guilford Mills by spending around USD 257 million in 2014. The company records an increase in its revenue by over 10.8% and has become the most promising player in the seating industry in 2014.
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Key players for the global light vehicle seating market share include Johnson Controls Inc., Faurecia SA, Lear Corporation, Magna International Inc., TS Tech Co., Ltd., NHK Spring Co., Ltd., Toyota Boshoku Corporation, Tachi-S and Toyo Tire and Rubber Co, Ltd. Some of the other manufactures include Woodbridge Group, Sharda Motor Industries, Recticel SA, Kongsberg Automotive, Grupo Antolin Irausa, S.A., Grammer AG, Gentherm Inc., Freudenberg, Dura Automotive Systems, LLC, CVG Seating, ContiTech, Brose Fahrzeugteile GmbH & Co.KG, Autoliv and Aisin Seiki Co., Ltd. among others.
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