Market Analysis: Global Car Door Latch Market
Global Car Door Latch Market is expected to rise from its initial estimated value of USD 5.60 billion in 2018 to an estimated value of USD 8.65 billion by 2026, registering a CAGR of 5.58% in the forecast period of 2019-2026. This rise in market value can be attributed to the growth of the automobile market.
Market Definition: Global Car Door Latch Market
Car door latch are a type of locking mechanisms used in door handles and hoods of the car. These latches are used to lock the doors and hoods ensuring the safety of the vehicles along with the safety of its passengers and contents. These latches are present in every lock of the vehicle and require regular check and maintenance to ensure their working.
- Growth of the automobile industry positively affecting the market growth
- Increasing concern for the safety of the vehicle resulting in advancements in the market which is expected to act as a driver for the market growth
- Adoption of cost-efficient security options that are comparatively cheaper than car door latches is expected to restrain the market growth
- Increased focus on the advancements of security in vehicles leading to adoption of substitute technology is also expected to act as a restraint to the market growth
Segmentation: Global Car Door Latch Market
- By Application
- Side Door Latch
- Hood Latch
- Tailgate Latch
- Back Seat Latch
- By Lock Type
- Electronic Latch
- Non-Electronic Latch
- By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- By Sales Channel
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In May 2018, Magna International Inc. announced the launch of a new car door latch termed as “Comfort+”, this new product uses rolling friction instead of traditional sliding friction technology resulting in significant reduction of efforts put on the opening and closing of a door.
- In October 2017, Kiekert AG announced the launch of various technologies for the modernization of car door latches and locking system. With the introduction of “E-Latch”, “I-Protect” and “I-Move”, the company hopes to achieve the autonomous vehicle trends and introduce autonomous doors.
Competitive Analysis: Global Car Door Latch Market
Global car door latch market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of car door latch market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Car Door Latch Market
Few of the major competitors currently working in the car door latch market are Kiekert AG, Magna International Inc., STRATTEC SECURITY CORPORATION, U-Shin Ltd., Shivani Locks Pvt. Ltd., Brose Fahrzeugteile GmbH & Co. KG, Inteva Products, VAST, AISIN SEIKI Co. Ltd., MITSUI MINING & SMELTING CO.LTD., Dudek & Bock Spring Manufacturing Company LLC, GECOM Corporation, Johnan Manufacturing Inc., Marquardt, Robert Bosch GmbH and ZF Friedrichshafen AG.
Research Methodology: Global Car Door Latch Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved