Dublin, July 11, 2024 (GLOBE NEWSWIRE) -- The "Automotive Door Latches - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Automotive Door Latches was valued at an estimated US$7.1 Billion in 2023 and is projected to reach US$9.2 Billion by 2030, growing at a CAGR of 3.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the automotive door latches market is driven by several factors, including the increasing production of vehicles, rising demand for advanced safety features, and the growing trend towards vehicle electrification and automation. The global automotive market`s expansion, particularly in emerging economies, has led to higher vehicle production volumes, thereby boosting the demand for door latches.
The stringent safety regulations imposed by governments worldwide have also compelled manufacturers to incorporate advanced latching systems to meet safety standards. Additionally, the shift towards electric and autonomous vehicles necessitates the development of new latching technologies that are compatible with these advanced platforms. Consumer preferences for enhanced convenience and security features further drive the adoption of innovative door latch systems. These factors collectively contribute to the robust growth of the automotive door latches market, highlighting the critical role of these components in the future of automotive design and manufacturing.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Non-Electronic Door Latches segment, which is expected to reach US$5.6 Billion by 2030 with a CAGR of a 3.6%. The Electronic Door Latches segment is also set to grow at 4.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.9 Billion in 2023, and China, forecasted to grow at an impressive 7.2% CAGR to reach $2.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Automotive Door Latches Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Automotive Door Latches Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Automotive Door Latches Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Aisin Seiki Co., Ltd., Brose Fahrzeugteile GmbH & Co. KG, Inteva Products, LLC., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- Aisin Seiki Co., Ltd.
- Brose Fahrzeugteile GmbH & Co. KG
- Inteva Products, LLC.
- Kiekert AG
- Magna International, Inc.
- Minda VAST Access Systems Pvt. Ltd.
- Shivani Locks Pvt., Ltd.
- STRATTEC
- U-Shin Ltd.
- WITTE Automotive
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 247 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $7.1 Billion |
| Forecasted Market Value (USD) by 2030 | $9.2 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Automotive Door Latches - Global Key Competitors Percentage Market Share in 2024
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024
- Global Economic Update
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Electric and Autonomous Vehicles Propel Growth in Advanced Door Latch Systems
- Increasing Vehicle Safety Regulations Strengthen Business Case for Enhanced Door Latches
- Consumer Demand for Convenience Features Spurs Innovation in Smart Door Latches
- Rising Automotive Production in Emerging Markets Expands Addressable Market Opportunity
- Growing Popularity of Keyless Entry Systems Drives Adoption of Electronic Door Latches
- OEMs Focus on Vehicle Aesthetics Propels Demand for Sleek and Concealed Door Latches
- Increased Focus on Vehicle Theft Prevention Strengthens Business Case for Enhanced Security Latches
- Growing Aftermarket Segment Sustains Growth in Replacement Door Latch Sales
- Demand for Customization in Premium Vehicles Expands Addressable Market Opportunity
- Rapid Urbanization and Increased Car Ownership Spur Growth in Automotive Door Latch Market
- Rising Disposable Income in Developing Countries Drives Demand for Advanced Automotive Features
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/t2f3zc
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