Global Automotive Door Latch Market was valued USD XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 5.4 % during forecast period of 2019 to 2026.
Global Automotive Door Latch Market
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Automotive door latches are equipped with lock striking operating mechanism with a latch to avoid illegal access. Automotive door latches are important tools as a safeguard security for the vehicle. The automotive door latch system is either automatic or operated manually. They are also operated by remote control system by adapting the transmitter into the ignition key. Additionally, automotive door latches are faster, smaller, lighter, and provide more security and safety.
Global Automotive Door Latch Market Drivers and Restrains
The growth of the market is boosted by the increasing disposable income and demand for safety modified vehicles. The requirements for advanced technology latch like power, LED latch etc. are expected to increase market share during forecast period. Technology advancement in automotive door latches such as smart controls via Bluetooth device or smartphone, the foremost automotive manufacturers are delivering smart lock solutions substituting the existing automotive latches. But, the high rate of an electronic latch is the major key factor that could hinder the growth of the market. This is predicted to result in low adoption of the product hence restraining development of the global automotive door latch market.
Furthermore, the demand for vehicles is anticipated to grow in terms of profits. Aftermarket is expected to remain the major sales channel enhancing the growth of automotive door latch market by development of sales in automotive door latch in Original Equipment Manufacturer (OEM) during the forecast period.
Manufacturers in the Automotive Door Latch are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Automotive Door Latch Market Segmentation Analysis
In terms of application segments, the side door latches segment is expected to grow at the highest XX% CAGR during the forecast period. Also, hood latch segment is expected to follow the side door latch in terms of profits contribution to rise in adoption of the commercial vehicles. Therefore, the market share of side door latch segment is projected to be the major segment in the global market.
The Strattec Security Corporation was reputable in 1995 and is headquartered at Milwaukee, Wisconsin (U.S.) is the world’s largest producers of automotive locks and keys. Strattec Security Corporation cooperates with three kinds of brand under which it sells its products in the global market. The VAST Llc. WiTTE Automotive and ADAC Automotive, in 2018 the company recorded annual sales of USD 414.4 million.
Global Automotive Door Latch Market Regional Analysis
Major key players and growing number of vehicle registrations in countries such as India and China. The Grupo Antolin had opened a new factory in Wuhan (China) with Dongfeng Visteon in April 2016 to supply door panels and headliners and door panels for Nissan, Renault, PSA, Infiniti and Honda. The purpose of opening the new plant is to offer to customers with high quality products to satisfy their requirements. Hence, Asia Pacific market is projected to account for major revenue share in the global automotive door latch market. Moreover, the Europe market and North America market are expected to follow Asia Pacific market in terms of revenue share in the global automotive door latch market, over the forecast period. In addition, North America market is expected to reach XX% CAGR during the forecast period, because of increasing investments and funds in the automotive sector of this region accompanied by increasing awareness among the vehicle owners about the benefits of car latch. The markets in the Middle East & Africa and Latin America are estimated to account for modest revenue share in the global automotive door latch market.
The objective of the report is to present comprehensive analysis of Global Automotive Door Latch Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Automotive Door Latch Market dynamics, structure by analyzing the market segments, and project the Global Automotive Door Latch Market size. Clear representation of competitive analysis of key players by Automotive Door Latch Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Door Latch Market make the report investor’s guide.
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Global Automotive Door Latch Market, by Lock Type
Global Automotive Door Latch Market, By Operation Type
Global Automotive Door Latch Market, by Application
- Back Seat Latch
- Side Door Latch
- Tailgate Latch
- Hood Latch
- Automotive Door Latch
Global Automotive Door Latch Market, by Vehicle Type
- Passenger Car
- Commercial Vehicle
Global Automotive Door Latch Market, by Region
- Asia Pacific
- North America
- Latin America
- Middle East Africa
Global Automotive Door Latch Market, Major Players
- Strattec Security Corporation
- IFB Automotive Private Limited
- GECOM Corporation
- Kiekert AG
- AISIN SEIKI Co Ltd
- Inteva Products
- Minda VAST Access Systems Pvt Ltd
- Magna International Inc
- WITTE Automotive
- U-Shin Ltd
- Mitsui Mining and Smelting Co.
- Shivani Locks Pvt. Ltd.
- Brose Fahrzeugteile Gmbh & Co.
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