Industry Background:
Light Vehicle Seating is defined as the automotive seat which is installed on the passenger cars as well as some commercial vehicles. The gross weight of a light vehicle seat must less than 3.5T. Demand for light vehicle seating has increased, due to the rising number of the vehicle in developing countries. For instance, according to an article published by the India Brand Equity Foundation, In FY19, the passenger vehicle sales in India have exceeded more than 3.37 million units. While in FY20, it is expected to increase further to 10 million vehicles. Hence, the growth in this region can be attributed to the growing disposable income of the population and the rising demand for passenger vehicles in this region.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Johnson Controls International plc (Ireland), Faurecia SA (France), Lear Corporation (United States), Magna International Inc. (Canada), TS Tech Co., Ltd. (Japan), NHK Spring Co., Ltd. (Japan), Toyota Boshoku Corporation (Japan), Woodbridge Group (Canada), Sharda Motor Industries (India) and Recticel SA (India) |
This growth is primarily driven by Growing Investments in Automobile Sector Worldwide and Rising Disposal Income among Middle-Class Families.
Globally, a noticeable market trend is evident Technology Advancement regarding Light Vehicle seating The Auto Parts & Equipment sector in the Asia-Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Johnson Controls International plc (Ireland), Faurecia SA (France), Lear Corporation (United States), Magna International Inc. (Canada), TS Tech Co., Ltd. (Japan), NHK Spring Co., Ltd. (Japan), Toyota Boshoku Corporation (Japan), Woodbridge Group (Canada), Sharda Motor Industries (India) and Recticel SA (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global light vehicle seating market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Key Developments in the Market:
In August 2021, lighting and electronics specialist HELLA and French automotive supplier Faurecia signed an agreement regarding the merger of the two companies. As part of the transaction, Faurecia will acquire a 60% stake held by HELLA pool shareholders. Faurecia also announced a voluntary public tender offer to acquire the remaining HELLA shares at an offer price of 60 euros per share.
In April 2023, Lear Corporation, a global automotive technology leader in Seating and E-Systems, announced that I.G. Bauerhin (IGB) further expands the company's suite of in-vehicle comfort technologies. Headquartered in Gruendau-Rothenbergen, Germany, IGB is a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules with more than 4,600 employees at 9 manufacturing plants in 7 countries.
Influencing Trend:
Technology Advancement regarding Light Vehicle seating
Market Growth Drivers:
Growing Investments in Automobile Sector Worldwide and Rising Disposal Income among Middle-Class Families
Challenges:
Issue related to Relatively Price and Environmentally Insensitive
Restraints:
A problem regarding Trade Barriers between Numerous Geographic Regions and Stringent Government Rules as well as Regulation
Opportunities:
Growing Demand from Emerging Market such as China, India, and others
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Light Vehicle Seating Market
- Analysis about New Entrants in Light Vehicle Seating Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Light Vehicle Seating Study Sheds Light on
The Light Vehicle Seating Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Light Vehicle Seating industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Light Vehicle Seating industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.