Automotive Closure Market Size, Industry Trends, Share, Analysis, Growth and Forecast 2022-2030
Market Scenario
Market Research Future (MRFR) have published the global
automotive closure market 2022 report that states the current and
post-COVID 19 impact on the market. As per MRFR study, the worldwide market of
automotive closure can rise at about 7% CAGR Forecast Period.
There are multiple forces that can influence the market
across the review period. The expansion of the automotive
closure market across the review period can rise
exponentially. The rise in the awareness of automobile among consumers
regarding safety and such related features are causing expansion of the
automotive sector. The change in competitive landscape of the automotive
industry can impact the market. The increase in the introduction of novel
products and high demand for unique vehicles can promote the expansion of the
automotive closure market across the assessment period in the years to come.
The inclination of people towards luxury closure support
such as electronic door locking system, power windows, and sunroof can impel
the expansion of the automobile closure global market. The greater comfort and
high customer experience offered by automotive closure are responsible for the
increase in the popularity of such automobile, thus can boost the market rise.
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Key Players
MRFR recognized some potential key players operating in the
worldwide automotive closure market based on origin, financial status, and key
products and latest introduction. They are; Daimler AG (Germany), Magna
International Inc. (Canada), Continental AG (Germany), Honda Motor Company,
Ltd. (Japan), BMW (Germany), Aisin Seiki. Co. Ltd (Japan), Robert Bosch GmbH
(Germany), Toyota Motor Corporation (Japan), and the Ford Motor Company (U.S.).
Market Segmentation
The automotive closure market segment study is based on
application, type, and component.
The application based, automotive closure market segmenst
are sunroof, side door, convertible roof, sliding door, and power window. The
widely used sliding door applications of the automotive closure system, along
with the high utility of power windows can prompt the expansion of the
automotive closure market across the assessment period. Their economical design
is observed to prompt their sales. The luxury automobile closure applications,
such sunroof and convertible roof is observed to gain high traction. Thus, can
prompt the expansion of the automotive closure market in the years to come.
The component based, automotive closure market segments are
ECU, latch, relay, switch, motor and actuator. The rise in the utility switch
automotive closure component can boost the expansion of the market of
automobile closure. The growing demand for relay and latch mechanisms due to
the can also support the rise of the automotive closure market. The type based,
automotive closure market segments are powered and manual. The rise in the need
for powered automotive closure by high-end automobiles can prompt the expansion
of the automotive closure market across the assessment period.
Regional Analysis
In North America, the automobile closure market can rise at
exponentially across the assessment period. The U.S followed by Canada, can
head the regional market across the evaluation period due to the booming
automotive sector in the region. The rise in per capita income and increase in preference
for owning a personal vehicles have resulted in consistent rise in automobile
sales. This can boost growth of North America automobile closure market. In the
Asia Pacific, the automobile closure market can rise owing to the presence of
leading automobile players in the region. The increase in expenditure in added
features that offer comfort and satisfaction can boost the expansion of the
automotive closure market in the region. In Europe, the automotive closure
market can gain high revenue in the years to come.
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