Automotive Seat Market in China 2017-2021
About Automotive Seat
Automotive seating systems have evolved from simple equipment to complex structures that are comfortable and fulfill the needs of both manufacturers and the users. Currently, seating systems are referred as one of the most expensive and heaviest interior parts in the vehicle. Original equipment manufacturers (OEMs) have started modifying the seating systems from their conventional design, and luxury modifications are being introduced to enhance user comfort and experience during their ride.
Technavio’s analysts forecast the automotive seat market in China to grow at a CAGR of 5.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the automotive seat market in China for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.Technavio's report, Automotive Seat Market in China 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Automotive Seat Market in China 2017-2021
Technavio recognizes the following companies as the key players in the automotive seat market in China: Hubei Aviation Precision Machinery (HAPM) and Magna, Faurecia-GSK (Wuhan) Automotive Seating, Shanghai SIIC Transportation Electric, and Yanfeng Adient Seating.
Other Prominent Vendors in the market are: Grupo Antolin, Cobra seats, DURA Automotive systems, Gentherm, IFB Automotive, MARTUR Automotive Seating Systems, Toyota Boshoku, TS TECH, and GRAMMER.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is adient’s integrated and luxury automotive seating has become a trend in China. Adient, one of the global leading automotive seating suppliers, has displayed its integrated luxury seat at Auto Shanghai 2017. The seat was innovated, designed, and engineered by Yanfeng Adient, one of the Adient' s JVs in China. A trend research was conducted by Adient to explore the needs, desires, and habits of drivers and passengers, and leveraged the obtained data for designing integrated luxury seat.”
According to the report, one driver in the market is growing dependency on public transportation. The main reasons for the increase in the demand for public transportation are aging population, rising fuel prices, increasing urbanization, increasing traffic congestion, rising roadway expansion costs, and changing consumer preferences and increasing health and environmental concerns. The key benefits of public transport include reduction in traffic congestion, reduced travelling distance through metros, improved comfort and convenience for users, cheap fares, parking facility cost saving, reduced pollution, and increased user security. Public transportation helps in reducing additional costs associated with traffic congestion, accidents, and CO2 emissions.
Further, the report states that one challenge in the market is rise in car sharing services in China. Car-sharing services are gaining prominence in emerging countries such as China, India, and Brazil due to various factors, including increasing private car usage costs and cheaper fares when compared with taxis. In China, since 2012, there has been a steady growth in the number of car-sharing operators, which has grown to 22 operators by mid-2015 from nine operators in 2012. In China, a private car is found to be unused most of its lifetime. A car used for car-sharing service has a high utilization rate compared to a private car. Car-sharing enables optimum utilization of a car, wherein, cost of maintaining the car is shared among the users.
Hubei Aviation Precision Machinery (HAPM) and Magna, Faurecia-GSK (Wuhan) Automotive Seating, Shanghai SIIC Transportation Electric, Yanfeng Adient Seating, Grupo Antolin, Cobra seats, DURA Automotive systems, Gentherm, IFB Automotive, MARTUR Automotive Seating Systems, Toyota Boshoku, TS TECH, and GRAMMER.