Impact Analysis of COVID-19 on the Global Door Latch Market Share...

Impact Analysis of COVID-19 on the Global Door Latch Market Share

Posted 2021-05-24 14:52:57

Market Synopsis

As per the study by Market Research Future Reports (MRFR), the global car Door Latch Market Share is projected to value USD 6.60 billion, thriving at a CAGR of 5% by the end of 2022. The rapid population explosion is the major factor driving the global car Door Latch Market Share 2020. The development of suburbs is a significant reason for assessing the growth of the market. Besides, the growing infrastructure is another crucial factor leading to market expansion. Moreover, the evolution of technology has also played a vital role in market growth. Besides, the strict rules implemented to regulate the emission is an important factor driving market growth.

Furthermore, child safety, hand-free avoidance, super locking are on a growing demand which enhances the market growth. It results in the expansion of car Door Latch Market Share. However, the economic factor plays an essential role in the automotive industry. Due to the outbreak of COVID-19, the car Door Latch Market Share has been severely affected. The daily operations have come to a halt, which caused acute damage to the global economy.

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Market Segmentation

The worldwide car Door Latch Market Share can be segregated on the basis of vehicle type, application, lock type, and regions.

On the basis of vehicle type, the worldwide car door latch can be classified into Commercial Vehicle and passenger car.

On the basis of application, the worldwide car door latch can be classified into side door latch, back seat latch, hood latch, and others.

On the basis of lock type, the worldwide car door latch can be classified into Electronic and Non-Electronic.

On the basis of regions, the worldwide car door latch can be classified into North America, Europe, Asia Pacific, and the Rest of the World.

Regional Analysis

The regional evaluation of North America, Europe, Asia-Pacific, and the Rest of the World has been conducted. As per the analysis, the APAC region is estimated to dominate the global market. The increasing manufacturing of automobiles in the region has resulted in the surging demand for the car door latch market share. Besides, the individuals of the region are experiencing an increase in disposable income, which further propels the market. Moreover, the fastest exploding economies of the world. i.e., India and China are present in the region, which plays a crucial role in expanding the market. The region is witnessing a surging demand for luxurious cars, especially in India and China.

Furthermore, the advanced technology deployed in the latches, such as LED and power efficiency is estimated to augment the market. It provides an impressive interior of the vehicle. These factors have played an important role in expanding the regional market. However, the outbreak of COVID-19 has hampered daily business operations and has caused severe damage to the economy.

Key Players

The key players of the global car Door Latch Market Share are Minda VAST Access Systems Pvt. Ltd. (India), Mitsui Mining and Smelting Co., Ltd.(Japan), Aisin Seiki Co., Ltd. (Japan), Kiekert AG (Germany), Strattec Security Co. (U.S.), Magna International, Inc. (U.S.), U-Shin, Ltd. (Japan), Brose Fahrzeugteile Gmbh & Co. (Germany), Shivani Locks Pvt. Ltd. (India), Inteva Products, Llc. (U.S.), and a few others.

Industry News

June 2020

Nissan, a renowned car, a manufacturing company, recalled hundreds of thousands of midsize cars in the U.S and Canada to fix a latch problem that may allow the hood fly open while the cars are in a moving position. Nissan recalled nearly 1.9 million Altimas and included cars from the 2013 through 2015 model years that were recalled in previous years.

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Key Questions Addressed by the Report

What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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