Significantly influenced by efforts of OEMs in development of smart latches that are IoT-integrated, the global market for automotive door latch will see a modest yet promising CAGR of 5% during 2019 – 2027. A recent study of Future Market Insights (FMI) suggests that the favorable policy framework related to vehicle and drivers’ safety and security will continue to influence the demand for automotive door latches in the near future.
The automotive industry is nearing maturity and expects to witness a remarkable number of collaborative alliances and consolidations among OEMs in the automotive door latch market space. The report opines that mid-sized cars would be the highly profitable sector for investors in the automotive door latch landscape.
Key Takeaways – Automotive Door Latch Market Study
- Increasing sales of mid-sized cars, particularly in Asia Pacific, make it a potential segment for manufacturers specializing in compact designs of automotive door latches.
- Side door latch will continue to command a significant share in global automotive door latch market value through 2027.
- The mega trend of electrification in cars and the ability to remotely operate vehicles have necessitated door latch manufacturers toward offering and devising compatible products aligned to the aforementioned technological advancements.
- The market is witnessing a gradual shift from the installation of conventional latches to electronic or mobile app-based systems in premium and luxury cars.
- The introduction of tracking and alert systems using GPS and IoT-based hardware for the security of vehicles has proliferated new avenues for value chain participants in the global automotive door latch market.
- Owing to the negligible replacement rate of door latches in the aftermarket, winning OEM supply contracts holds the key for manufacturers to sustain and grow their market share.
- Adding enhanced security features is the key focal point of automotive door latch manufacturers to meet the unique requirements of autonomous vehicle manufacturers.
With overall safety of passengers being a paramount and drivers relying on secured door locking systems, door latches find a crucial place in automotive manufacturing. The inclusion of mobile connectivity and GPS tracking technologies in existing products is revolutionizing the automotive door latch space.
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Know Who is Spearheading Automotive Door Latch Market
The global automotive door latch market is significantly consolidated, with the leading five players accounting for nearly one-half of the overall market size as of 2018. Key players in the market are focusing on developing latching systems based on smart technologies to retain their competitive edge in the landscape. Keikart AG, Aisin Seiki Co. Ltd., and STRATTEC are identified as prominent players in the global automotive door latch market. Market participants are keen on developing door latches with minimal mechanical intervention. Companies are focused on developing door latches that reduce vehicular weight and locking system complexity.
OEMs Engaged in Tough Competition
In the coming years, automotive door latches are expected to witness consistent demand. With the persistent trend of introducing smarter latches in door locking systems, OEMs are focused on keeping their product portfolios strong. East Asia, followed by Europe, remains the most crucial region in the automotive door latch market with a leading market share. With increasing demand from East Asia and South Asia, new entrants in the automotive door latch market are expected to find significant opportunities to invest in such target regions.
Sneak Peek into Report
The research scope of the global automotive door latch market has been primarily bifurcated into three segments: latch type, vehicle type, and function. The study provides an in-depth analysis of market sizing, forecasting, and market share analysis for automotive door latches. The report delivers a comprehensive assessment of the important dynamics of the automotive door latch market.
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1.1. Global Automotive Door Latch Market Taxonomy
2.1.2. Global Automotive Door Latch Market Definition
2.2. Global Automotive Door Latch Market Dynamics
2.3. Global Automotive Door Latch Market Size (US$ Mn & Volume (‘000 Units)) and Forecast, 2013-2027
2.4. Global Automotive Door Latch Market Y-o-Y Growth
2.5. Cost Structure
2.6. Macro-Economic Factors
2.6.1. Global Automotive Sector Outlook
2.6.2. Global Automotive Industry by Vehicle Type and Automotive Door Latch Y-O-Y (%) growth projection comparison from 2018 – 2027
2.6.3. Regional Vehicle Production & Vehicle PARC
2.7. Value Chain
2.8. Pricing Analysis
- Global Automotive Door Latch Market Sizing (US$ Mn & Volume (‘000 Units)) Analysis 2013–2018 and Forecast, 2019–2027
3.1. Global Automotive Door Latch Market Analysis 2013–2018 and Forecast 2019–2027, by Vehicle Type
3.1.1. Introduction / Key Findings
3.1.2. Historical Market Size (US$ Mn) and Volume Analysis By Vehicle Type, 2013–2018
3.1.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Vehicle Type, 2019–2027
22.214.171.124. Passenger Vehicles
126.96.36.199.1. Compact Cars
188.8.131.52.2. Mid-sized Cars
184.108.40.206.3. Luxury Vehicles
220.127.116.11. Light Commercial Vehicles (LCV)
18.104.22.168. Heavy Commercial Vehicles (HCV)
3.1.4. Market Attractiveness Analysis By Vehicle Type
3.2. Global Automotive Door Latch Market Analysis 2013–2018 and Forecast 2019–2027, by Latch Type
3.2.1. Introduction / Key Findings
3.2.2. Historical Market Size (US$ Mn) and Volume Analysis By Latch Type, 2013–2018
3.2.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Latch Type, 2019–2027
22.214.171.124. Side Door Latch
126.96.36.199. Tailgate Latch
188.8.131.52. Hood Latch