Connect with us

Hi, what are you looking for?

Automotive Door Latch Market size is anticipated to increase at a CAGR of 4.8% & reach a revenue of US$ 7.6 Billion by year 2027-end

Global demand for automotive door latches market size will probably increase globally, with annual growth expected to be 4.8% Y-o-Y, reaching US$ 7.6 billion in 2027.

Significantly influenced by efforts of OEMs in development of smart latches that are IoT-integrated, the global market for automotive door latch will see a modest yet promising CAGR of 4.8% during forecast period. A recent study of Future Market Insights (FMI) suggests that the favorable policy framework related to vehicle and drivers’ safety and security will continue to influence the demand for automotive door latches in the near future.

The automotive industry is nearing maturity and expects to witness a remarkable number of collaborative alliances and consolidations among OEMs in the automotive door latch market space. The report opines that mid-sized cars would be the highly profitable sector for investors in the automotive door latch landscape.

Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4556

Key Takeaways – Automotive Door Latch Market Study

  • Increasing sales of mid-sized cars, particularly in Asia Pacific, make it a potential segment for manufacturers specializing in compact designs of automotive door latches.
  • Side door latch will continue to command a significant share in global automotive door latch market value through 2027.
  • The mega trend of electrification in cars and the ability to remotely operate vehicles have necessitated door latch manufacturers toward offering and devising compatible products aligned to the aforementioned technological advancements.
  • The market is witnessing a gradual shift from the installation of conventional latches to electronic or mobile app-based systems in premium and luxury cars.
  • The introduction of tracking and alert systems using GPS and IoT-based hardware for the security of vehicles has proliferated new avenues for value chain participants in the global automotive door latch market.
  • Owing to the negligible replacement rate of door latches in the aftermarket, winning OEM supply contracts holds the key for manufacturers to sustain and grow their market share.
  • Adding enhanced security features is the key focal point of automotive door latch manufacturers to meet the unique requirements of autonomous vehicle manufacturers.

With overall safety of passengers being a paramount and drivers relying on secured door locking systems, door latches find a crucial place in automotive manufacturing. The inclusion of mobile connectivity and GPS tracking technologies in existing products is revolutionizing the automotive door latch space.

Request for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-4556

Know Who is Spearheading Automotive Door Latch Market

The global automotive door latch market is significantly consolidated, with the leading five players accounting for nearly one-half of the overall market size as of 2018. Key players in the market are focusing on developing latching systems based on smart technologies to retain their competitive edge in the landscape. Keikart AG, Aisin Seiki Co. Ltd., and STRATTEC are identified as prominent players in the global automotive door latch market. Market participants are keen on developing door latches with minimal mechanical intervention. Companies are focused on developing door latches that reduce vehicular weight and locking system complexity.

OEMs Engaged in Tough Competition

In the coming years, automotive door latches are expected to witness consistent demand. With the persistent trend of introducing smarter latches in door locking systems, OEMs are focused on keeping their product portfolios strong. East Asia, followed by Europe, remains the most crucial region in the automotive door latch market with a leading market share. With increasing demand from East Asia and South Asia, new entrants in the automotive door latch market are expected to find significant opportunities to invest in such target regions.

Key Companies Profiled

  • STRATTEC
  • Kiekert AG
  • Inteva Products LLC
  • Aisin Seiki Co. Ltd.
  • Magna International Inc.
  • WITTE Automotive GmbH
  • Brose Fahrzeugteile GmbH & Co. KG
  • U-Shin Ltd
  • Shivani Locks Private Limited
  • MITSUI KINZOKU

Automotive Door Latch Market Structure Analysis

  • The global automotive door latch market is significantly consolidated where tier-1 players hold significant market shares.
  • Tier-1 companies are focusing on technological advancements to meet future customer requirements and maintain their market position.
  • Aisin Seiki Co, Ltd., Inteva Products LLC, Magna International Inc., Kiekert AG, and STRATTEC are some of the key participants in the global automotive door latch market.

Ask the Analyst: https://www.futuremarketinsights.com/ask-question/rep-gb-4556

Automotive Door Latch Market: Taxonomy

The global automotive door latch market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Vehicle

  • Compact Cars
  • Mid-sized Cars
  • Luxury Cars
  • SUV
  • HCV
  • LCV

Latch

  • Side Door Latch
  • Tailgate Latch
  • Hood Latch

Sales Channel

  • OEM
  • Aftermarket

Function

  • Electronically-operated
  • Mechanically-operated

Sneak Peek into Report

The research scope of the global automotive door latch market has been primarily bifurcated into three segments: latch type, vehicle type, and function. The study provides an in-depth analysis of market sizing, forecasting, and market share analysis for automotive door latches. The report delivers a comprehensive assessment of the important dynamics of the automotive door latch market.

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

ADAS Market

Lane Departure Warning (LDW) Market

Park Assist System Market

Automotive Actuator Market

Tire Pressure Monitoring System Market

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedInTwitterBlogs

The post Automotive Door Latch Market size is anticipated to increase at a CAGR of 4.8% & reach a revenue of US$ 7.6 Billion by year 2027-end appeared first on Future Market Insights.

You may also like:

Entertainment

Netflix on Wednesday released a sneak peek of its TV series adaptation of Gabriel Garcia Marquez's "One Hundred Years of Solitude."

World

The 200-member National Council meets at the Federal Palace in Bern - Copyright AFP MANDEL NGANSwiss lawmakers on Wednesday voted in favour of banning...

World

Stop pretending to know what you’re talking about. You’re wrong and you know you’re wrong. So does everyone else

World

Donald Trump will have dinner with Polish President Andrzej Duda in New York Wednesday.