Automotive Closure Market Size

Posted 2021-06-09 05:30:55

Automotive closures are parts that are hinged to the main car body allowing persons to exit or enter the vehicle. Innovative vehicle designs and stringent norms on driver and passenger safety can make up a large part of production strategy of closures. The global Automotive Closure Market Size report by Market Research Future (MRFR) is segmented by application, component, and type for offering an unbiased view of the industry and supported by growth engines, obstacles, opportunities, and trends for the period of 2017 to 2023 (forecast period). The COVID-19 outbreak and its impact on the automotive sector have been covered in the report.

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Market Scope

The global Automotive Closure Market Size size is estimated to grow at a CAGR of 7% over the forecast period.

Segmentation

On the basis of application, the most widely used applications of the Automotive Closure Market Size (which are economical, to fit), are the power windows and sliding doors. Applications, such as sunroof and convertible roof, fall into the luxury automobile category and hence, cannot be fitted into budget vehicles.

On the basis of component, motor & actuator and switch are the most widely used in all types of automobile. Relay and latch mechanisms fall under the technology, which was used in the times before the invention and widespread use of electronics in the automotive manufacturing process. Thus, though not favored, these relay and latch mechanisms are particularly used in case of budget automobiles.

On the basis of type, manual variety is used more in developing markets and budget automobiles, while the automatic variety is preferred in mid to high-end automobiles.

Regional Analysis

North America region (the U.S. and Canada, specifically) is one of the largest automotive markets in the world. Due to the high per capita income and high preference of people towards owning a personal vehicle (minimum 1 automobile per person), the automotive sales in this region are consistently high. The Asia Pacific market is considered to be the next automotive hub in the world. People here have rising per capita income and don’t mind spending more for added features providing comfort and satisfaction. The Europe region is known for its customers preferring high-end cars with best possible features. Thus, the automotive closure system has tremendous growth potential in all the major automotive markets the world over.

Competitive Outlook

Toyota Motor Corporation, BMW, Daimler AG, Aisin Seiki. Co. Ltd, Magna International Inc., Continental AG, The Ford Motor Company, Honda Motor Company, Ltd., and Robert Bosch GmbH are prominent players of the global Automotive Closure Market Size.

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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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