Press Release / Automotive / Car Door Latch Market by Kiekert AG, Magna International, Inc., Strattec Security Co., U-Shin Ltd., Shivani Locks Pvt. Ltd
Car Door Latch Market by Kiekert AG, Magna International, Inc., Strattec Security Co., U-Shin Ltd., Shivani Locks Pvt. Ltd
By rechaldey on April 17 2019 | 841 Views
The car door latch market is anticipated to grow at a CAGR of 5.80%, during the forecast period. The base year for the report is 2015 and the forecast year is 2021.
According to the market research report Car Door Latch Market by Application (Side Door Latch, Hood Latch, Tailgate Latch, and Back Seat Latch), Lock Type (Electronic and Non-Electronic), Vehicle Type (Passenger Car and Light Commercial Vehicle) and Region - Global Forecast to 2021. The objective of the study is to analyze and forecast (2016 to 2021) the market size, in terms of volume (’000 units) and value (USD billion), of the global automotive latch market. The report segments the market by lock type, application, and vehicle type based on region namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). A detailed study of various market leaders has been conducted and opportunity analyses have been provided in the report.
The car door latch market is anticipated to grow at a CAGR of 5.80%, during the forecast period. The base year for the report is 2015 and the forecast year is 2021.
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Increasing safety and security concerns with regard to automotive closure systems have led to developments in automotive latches, which fall under the closure system segment. As per the Global New Car Assessment Program, automotive door latches with a central locking systems, anti-theft devices, electric child safety features, power cinching, or electric release functions are preferable. OEMs and Tier-1 suppliers are inclined towards lightweight solutions for various automotive components, which include composite materials and aluminum to achieve better fuel economy. Volkswagen AG (Germany) introduced a new modular body design on its 2013 Golf model.
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The fastest growing market for car door latches is the Asia-Pacific market, which holds the majority of the market share of the global automotive latch market, by value and volume. The Asia-Pacific region was estimated to dominate the global automotive latch market, in terms of value, in 2016.
The major contributors to the growth of this market are China, Japan, and India as the import and export trade is increasing in these countries due to improved industrialization.
Browse and in-depth TOC on Car Door Latch Market
75 - Tables
56 - Figures
135 – Pages
The side door latch segment is estimated to be the largest segment
The market share for side door latches is the largest and is growing at a CAGR mentioned in the report, during the forecast period. The per vehicle usage of side door latches is the highest at 4, compared to 1 to 2 for other latch types such as tail gate, hood, and seat, per vehicle. Hence, the side door latch market has the largest market share.
The passenger car type is estimated to be the fastest growing segment in the global automotive latch market
The passenger vehicle segment is growing at the highest CAGR as mentioned in the report, during the forecast period. Additionally, an increasing trend of extended cab type light commercial vehicles (LCV) has also helped the automotive latch market grow, as they have four side doors against the two in standard LCVs.
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Car Door Latch Market Key Players
The global car door latch market is dominated by many international as well as domestic players, such as Kiekert AG (Germany), Magna International, Inc. (U.S.), Strattec Security Co. (U.S.), U-Shin Ltd. (Japan), Shivani Locks Pvt. Ltd. (India), Brose Fahrzeugteile Gmbh & Co. (Germany), Inteva Products, Llc (U.S.), and Minda VAST Access Systems Pvt. Ltd. (India).
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