Future Market Insights (FMI) has estimated the automotive door latch market to grow with year over year growth 4.8% in 2022 reaching value of about US$ 6,040.2 by 2022 end.
East Asia is expected to remain one of the prominent market for automotive door latch market owing to rising disposable income and significant automotive vehicle production. Further, high rate of adoption of technological advancement in the region is projected to generate substantial demand during the forecast period.
| Automotive Door Latch Market Value (2021A) | US$ 5,762.5 Mn |
| Automotive Door Latch Market Estimation (2022E) | US$ 6,040.2 Mn |
| Automotive Door Latch Market Forecasts (2027F) | US$ 7,647.8 Mn |
| Value CAGR (2022-2027) | 4.8% |
| Collective Value Share: Top 3 Countries (2022E) | 45.2% |
The increasing demand for economic range products compel the manufacturers to manufacture high quality and affordable products. Also, Durable and high quality products are on high demand from the OEMs in order to maintain their brand name.
The global business is anticipated to witness a considerable CAGR of 4.8% by value during the period of 2022 and 2027. The global market of automotive door latch is further expected to reach a value of US$ 7,647.8 Mn by 2027 end.
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.
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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.
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.
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Automotive Door Latch Market Structure Analysis
- The global automotive door latch market is significantly consolidated where tier-1 players hold significant market shares.
- Tier-1 companies are focusing on technological advancements to meet future customer requirements and maintain their market position.
- Aisin Seiki Co, Ltd., Inteva Products LLC, Magna International Inc., Kiekert AG, and STRATTEC are some of the key participants in the global automotive door latch market.
Automotive Door Latch Market: Taxonomy
The global automotive door latch market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Vehicle
- Compact Cars
- Mid-sized Cars
- Luxury Cars
- SUV
- HCV
- LCV
Latch
- Side Door Latch
- Tailgate Latch
- Hood Latch
Sales Channel
- OEM
- Aftermarket
Function
- Electronically-operated
- Mechanically-operated
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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. Introduction
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
3.1.3.1. Passenger Vehicles
3.1.3.1.1. Compact Cars
3.1.3.1.2. Mid-sized Cars
3.1.3.1.3. Luxury Vehicles
3.1.3.1.4. SUVs
3.1.3.2. Light Commercial Vehicles (LCV)
3.1.3.3. 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
3.2.3.1. Side Door Latch
3.2.3.2. Tailgate Latch
3.2.3.3. Hood Latch
3.2.4. Market Attractiveness Analysis By Latch Type
3.3. Global Automotive Door Latch Market Analysis 2013–2018 and Forecast 2019–2027, by Sales Channel
3.3.1. Introduction / Key Findings
3.3.2. Historical Market Size (US$ Mn) and Volume Analysis By Sales Channel, 2013–2018
3.3.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Sales Channel, 2019–2027
3.3.3.1. Online
3.3.3.2. Offline
3.3.4. Market Attractiveness Analysis By Sales Channel
3.4. Global Automotive Door Latch Market Analysis 2013–2018 and Forecast 2019–2027, by Function
3.4.1. Introduction / Key Findings
3.4.2. Historical Market Size (US$ Mn) and Volume Analysis By Sales Channel, 2013–2018
3.4.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Function, 2019–2027
3.4.3.1. Electronically Operated
3.4.3.2. Mechanically Operated
3.4.4. Market Attractiveness Analysis By Function
3.5. Global Automotive Door Latch Market Analysis 2013–2018 and Forecast 2019–2027, by Region
3.5.1. Introduction
3.5.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2013–2018
3.5.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2019–2027
3.5.3.1. North America
3.5.3.2. Latin America
3.5.3.3. Europe
3.5.3.4. Middle East and Africa (MEA)
3.5.3.5. East Asia
3.5.3.6. South Asia
3.5.4. Market Attractiveness Analysis By Region
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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