Global Automotive Door Latch Market
Automotive door latches are equipped in automobiles with lock striking operating mechanism with a latch to avoid unauthorized access. They are operated with the help of a handle which needs to tug in with applied force or be either dragged or lifted. Automotive door latches are significant tools to ensure perfect security of the vehicle by preventing severe accidents to occur by avoiding the door to open while driving on a high speed or against blowing wind.
The automotive door latch system can either be automatic or can be operated manually and is up to the user to opt for either choice. They are also activated by remote control system by assimilating the transmitter into the ignition key.
The automotive door latches are an important tool to ensure safety and making driving enjoyable and tension free. Rising trend towards automobiles with security standards is likely to foster the growth of automotive door latch market in the near future.
Market Size and Forecast
Geographically, Asia Pacific was the largest region in the automotive door latch market in year 2017. In terms of volume and value, the Asia-Pacific Market is estimated to have the largest regional market share of global automotive latch market in forecast period. With an increase in disposable income in various countries like India and China, it is estimated to make the Asia Pacific automotive door latch market to be the largest vehicle market in sales and production. Automotive door latch market in North America is anticipated to generate higher CAGR during forecast period followed by Europe.
The demand for advanced technology latches such as power, LED latches etc. is anticipated to increase market share by the end of forecast period. Moreover, the development of advanced automotive door latches is estimated to grow with increasing awareness for safety concerned vehicles among consumers.
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Factors such as increasing sale of automotive door latches across the globe coupled with rising disposable income are making headway for the growth of the global automotive door latch market. Moreover, rising production and sale of automobiles is anticipated to positively impact the growth of the market.
According to a recent study conducted by Research Nester, the global market for automotive door latch is expected to grow at a moderate CAGR of 6.4% during the forecast period 2018-2027. Worldwide sales of automotive door latches are anticipated to generate USD 7,200 Million in revenue by the end of 2027.
Based on application type, automotive door latch market is segmented into side door latch, hood latch, back seat latch, tail gate latch and others. The side door latch segment is expected to dominate the overall car door latch market during the forecast period.
Our in-depth analysis of the global automotive door latch market includes the following segments:
By Product Type
By Application Type
- Side Door Latch
- Hood Latch
- Back Seat Latch
- Tailgate Latch
By Operation Type
By Sales Channel
The global automotive door latch market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges:
The growth of the market is driven by the rising disposable income and increasing demand for safety adapted vehicles. The demand for advanced technology latches such as power, LED latches etc. is anticipated to increase market share by the end of forecast period. With the cumulative technology advancement in automotive door latches such as smart controls via smartphone or a Bluetooth device, the leading automotive manufacturers are delivering smart lock solutions replacing the existing automotive latches.
Moreover, the demand for vehicles is expected to grow in terms of revenue. Aftermarket is anticipated to remain the largest sales channel enhancing the growth of global automotive door latch market followed by development of sales in automotive door latch in OEM during the forecast period.
Followed by its continuing progress in the recent past, the growing prominence of the side door latch segment is anticipated to be the fastest growing section of global automotive latch market resulting in rising demand for automobiles globally.
On the source of function, requirement for automotive door latches in passenger cars and SUV’s for liberation of superior performance is expected to make the sale of electronic automotive door latch to result in higher CAGR during the forecast period.
However, the advancement in technology such as remote control and LED enabled latches tangling with the controlling of vehicles might deter the growth of technology stimulated door latch market.
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