NEW YORK, Aug. 02, 2017 (GLOBE NEWSWIRE) -- According to market research report titled “Automotive Anti-Pinch Power Window System Market by Type (Automatic, Manual), by End-Use (Passenger Cars, Commercial Vehicles) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023”, published by P&S Market Research, Automotive Anti-Pinch Power Window System Market is projected to reach $3,611.2 million by 2023, growing at a CAGR of 12.0% during 2017 – 2023
As per the research, the global automotive anti-pinch power window system market is expected to grow from $1,690.2 million in 2016 to $3,611.2 million by 2023. The increase in vehicle production and growing demand for luxury vehicles are driving the market for automotive anti-pinch power window system market. Increasing awareness regarding automotive safety is also a factor contributing to the expansion of the automotive anti-pinch power window system market. Major automakers including Audi, BMW, General Motors, Honda, Hyundai, Mercedes-Benz, Ford Motors, and Tata Motors, are some of the well-known brands that offer anti-pinch power window system as standard or optional feature in some of their cars. For instance, Hyundai Santa Fe comes with anti-pinch feature as well as auto-down feature in all the front power windows. Tata Motors is offering anti-pinch feature in its Zest model. The recently launched Volkswagen Ameo also has anti-pinch power window feature as its standard offering.
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Based on the type, automatic windows accounted for the larger revenue in automotive power window system market, with over 80% share in 2016. The major factor driving of its demand in automatic windows are rise in vehicle electrification and growing awareness toward advanced safety features. Passenger cars were the largest user of anti-pinch power window systems due to rapidly growing automotive industry, especially in emerging countries including India, China, Brazil and South Africa. Rise in vehicle export is also expected to drive the automotive anti-pinch system market during the forecast period. For instance, in the first eight months of FY17, Indian vehicle exports have grown by 16% to 499,037 units. The export volumes crossed 700,000 units and the major players driving the export market were Ford, Hyundai, Maruti Suzuki, and Volkswagen. Latin America, Africa and Europe were top export destinations for India-made cars in 2016.
Europe and North America collectively accounted for nearly 70% of the global automotive anti-pinch power window system market in 2016. The major factors contributing to the growth of the market in these two regions are increase in vehicle production and export, stringent safety norms toward vehicle safety, huge investments and technological advancements. The European car sales increased by over 6% in 2016. The vehicle registration in Europe was over 15 million units in the same year and Germany’s full-year sales were up by 4.5%, while French sales increased by 5.1%. In the Southern European markets of Italy and Spain, registrations rose by 16% and 11%, respectively. In North America, the U.S. and Canada remained promising and achieved high sales figures in 2016. The U.S. new vehicle sales recorded over 17.5 million units in 2016, which was higher than the sales figures recorded in 2015.
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The major factor driving the growth of the automotive anti-pinch power window system market is rise in the demand of passenger cars worldwide. The mid- priced passenger cars accounted for more than 30% of global sales in 2016, and the market size is expected to increase during the forecast period due to rise in per capita income and economic developments. More than 60% of passenger cars sales come from emerging economies, where sales are set to grow by 5% to 6% by 2020. India and China have exhibited a tremendous growth in vehicle production in the past five years and the trend is likely to continue during the forecast period. Vehicles sale in China grew by 15% in 2016, and over the period of next five years the auto industry in the country is expected to grow at 6% to 7% annually, bringing the total production and sales of vehicles to over 30 million vehicles by 2020. In the rest of the world, the automotive industry has grown significantly in Brazil, Chile, Iran, Australia, and the Middle-East, and major automakers are planning to set up their manufacturing plants in these countries to meet the growing demand.
The automotive anti-pinch power window system market is majorly dominated by Tier 1 players having presence across the globe. Some of the major players involved are Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Magna International Inc., Brose Fahrzeugteile GmbH & Co. and NXP Semiconductors. Product launches and strategic partnerships have been the major recent developments in the automotive anti-pinch power window system market.
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