Market Share of China Automotive Seats Industry
The China Automotive seat market is moderately consolidated and some of the major players in the market are Yanfeng Adient Seating Co., Ltd., Lear Corporation, Faurecia SE, Magna International Inc, and others. For being ahead in the competition the companies are making new joint ventures and expanding their presence in the country. For instance,
- In October 2021, Faurecia, one of the world's leading automotive technology companies, announced that following approval from the appropriate regulatory bodies it has completed the acquisition from DAS Corporation of 50% of their joint venture with BAIC, Beijing BAI DAS Automotive System Co., Ltd. The joint venture is the main seating supplier for BAIC Hyundai and has strong development opportunities with other BAIC-owned brands and partners.
- In March 2021, Adient, a global leader in automotive seating, announced that as part of its strategic transformation in China, it has entered into definitive agreements with joint venture partner Yanfeng Automotive Trim Systems Ltd. (YF) to end its Yanfeng Adient Seating Co., Ltd. (YFAS) joint venture in China. Under the agreements, Adient will sell its 49.99% interest in YFAS to YF and its minority interest in certain other joint ventures and will receive USD1.5 billion in cash and will acquire YFAS's 50% equity interest in Chongqing Yanfeng Adient Automotive Components Co., Ltd. and YFAS's 100% equity interest in Yanfeng Adient (Langfang) Seating Co., Ltd.
China Automotive Seats Market Leaders
Lear Corporation
Yanfeng Adient Seating Co. Ltd
Faurecia SE
Magna International Inc.
Toyota Boshoku
*Disclaimer: Major Players sorted in no particular order
