Global Automotive Closure Market, By Type (Manual, Powered), Product Type (Bonnet, Roof, Windows, Doors, Rear Hatch, Fuel Doors), Component (Electronic Control Unit, Switch, Latch, Motor and Actuator, Relay), Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), Vehicle Type (Electric Vehicle, Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights ; Global Automotive Closure Market
Automotive closure market is expected to reach USD 34.86 billion by 2028 witnessing market growth at a rate of 6.80% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive closure market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Automotive closures are a non-structural component of the vehicle that enables entry and exit from the vehicle by holding onto body frames, such as doors. Automotive closures, since they contribute to vehicle protection and add practical value, are a vital part of the vehicle. Over the past few years, automotive closures have seen a large amount of improvement in terms of design, weight, and features.
Increasing demand for comfort and luxury among the consumers, growth in hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV) sales, rising focus toward safety/hands-free operations, prevalence of better overall efficiency due to the improved aerodynamics associated with the product implementation, focus of closure manufacturers on the development of lightweight materials, development of an integrated closure system to meet safety standards are some of the major as well as vital factors which will likely to augment the growth of the automotive closure market in the projected timeframe of 2021-2028. On the other hand, increasing number of research and development activities along with advancement on closure technology such as LED latches, collision avoidance closure system, and integration of electronics into closure systems which will further contribute by generating massive opportunities that will lead to the growth of the automotive closure market in the above mentioned projected timeframe.
High cost associated with the usage of system along with rising implementation and installation cost which will likely to act as market restraints factor for the growth of the automotive closure in the above mentioned projected timeframe. Use of lightweight material along with fail-safe electronics which will become the biggest and foremost challenge for the growth of the market.
This automotive closure market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive closure market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Closure Market Scope and Market Size
Automotive closure market is segmented on the basis of type, product type, component, sales channel and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Automotive closure market on the basis of type has been segmented as manual, and powered.
- Based on product type, the automotive closure market has been segmented into bonnet, roof, windows, doors, rear hatch, and fuel doors.
- On the basis of component, the automotive closure market has been segmented into electronic control unit, switch, latch, motor and actuator, and relay.
- On the basis of sales channel, the automotive closure market has been segmented into original equipment manufacturer (OEM), and aftermarket.
- Automotive closure has also been segmented on the basis of vehicle type into electric vehicle, passenger vehicle, light commercial vehicle (LCV), and heavy commercial vehicle (HCV). Electric vehicle has been further segmented into BEV, PHEC and HEV.
Automotive Closure Market Country Level Analysis
Automotive closure market is analysed and market size, volume information is provided by country, type, product type, component, sales channel, and vehicle type as referenced above.
The countries covered in the automotive closure market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the automotive closure market due to the surging levels of investment on research and development activities along with prevalence of various original equipment manufacturers in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the rapid industrialization and urbanization along with rising levels of disposable income of the people.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Closure Market Share Analysis
Automotive closure market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive closure market.
The major players covered in the automotive closure market report are TOYOTA MOTOR CORPORATION; Magna International Inc.; Honda Motor Co., Ltd.; Continental AG; AISIN SEIKI Co., Ltd.; BMW AG; DENSO CORPORATION.; Robert Bosch GmbH; Daimler AG.; The Ford Motor Company; Johnson Electric Holdings Limited; OMRON Corporation; Panasonic Corporation of North America.; Aptiv.; Mitsuba Corp.; HELLA GmbH & Co. KGaA; VALEO; General Motors; Volkswagen AG; thyssenkrupp System Engineering GmbH; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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