China to drive the growth of global vehicle producti - leatherbiz: Lea Leatherbiz

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China to drive the growth of global vehicle production

08/03/2019
Global vehicle production is expected to grow by 23% by 2031, according to data from research and information group IHS Markit. This would see production increase from the current level of 95 million units to 117 million units.

This data was presented by IHS Markit senior component forecasting analyst Madris Hamitouche on the first day of Lectra’s annual automotive conference at Cestas, near Bordeaux (March 7-8).

Mr Hamitouche explained that this growth will be driven by China, where vehicle production is expected to increase by 33% by 2031. This is due to a combination of local OEMs launching new brands and European OEMs introducing new vehicles in China. New production partnerships in China will also contribute.

With a number of seat manufacturers in attendance at the conference, IHS Markit also took the opportunity to present some information about the seat assembly market. Its data showed that Adient and Lear Corporation are the two most prominent companies in this sector, taking shares of 17% and 13% of the market, respectively. Yanfeng Adient and Toyota Boshoku both have an 8% share, with Magna taking a 6% share and Faurecia a 5% share. 

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