Key Blanks are the keys that have not been cut into a specific look or bit. Automotive key blanks as the name suggests are the key blanks particularly used in automotive. Automotive Key blanks are more often made of brass and nickel silver material owing to their required properties. Automotive key blanks are generally stamped with the automotive brand logo such as Honda, Suzuki, BMW, Audi, and Hyundai amongst others. Considerably growing automotive industry is one of the key factor driving the demand for automotive key blanks across the globe. This is turn is anticipated to significantly contribute to the global automotive key blanks market.
Automotive Key Blanks Market: Dynamics
Automotive key blanks market is directly related to the production and sales of automotive vehicles. Increasing production of automotive will directly impact the sales of original equipment manufacturer in the automotive key blanks market. Similarly rising automotive sales subsequently rising on-road vehicle fleet is estimated to significantly contribute to the global automotive key blanks aftermarket sales channel. Owing to general mishandling of vehicle keys by the customers, the replacement rate of automotive key blanks is quite attractive. This in turn my positively impact the aftermarket sales channel subsequently contributing to the global automotive key blanks market during the forecast period.
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Increasing demand as well as sales of push button type ignition switch system, which requires no key blanks is considered to be one of the major factor restraining the growth of the global automotive key blanks market during the forecast period.
Increasing demand for central locking system also known as power door locks or electric door locks is fueling the demand for plastic or metal head automotive key blanks. This is considered to be an ongoing trend gaining momentum in the global automotive key blanks market
Automotive Key Blanks Market: Regional Outlook
Increasing purchasing power of potential middle class populations. Moreover, increase in population, specially working population, across the globe will create new opportunities for global automotive industry as well as in global automotive key blanks market over the forecast period. Owing to large scale automotive production and sales, the economies such as China, the U.S. and Japan are estimated to dominate the global automotive key blanks market in the current market scenario. However, due to several favorable macro-economic factors such as the strong outlook of the automotive industry, growth in electric vehicle production, IOT (Internet of Things) in the automotive industry and new product curiosity among consumers, the market is also anticipated to register prominent growth in Asia Pacific, Europe and the MEA regions over the forecast period. Latin America region is anticipated to witness a moderate growth in the automotive key blanks during the forecast period.
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Automotive Key Blanks Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Automotive Key Blanks market include:
- Kaba Ilco Corp.
- Goto Manufacturing Co., Ltd.
- Jet Hardware Manufacturing
- Brockhage Corporation
- Hudson Lock, LLC
- Altuna Group USA Inc.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Automotive Key Blanks market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global Automotive Key Blanks market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The global Automotive Key Blanks market report also maps the qualitative impact of various market factors on market segments and geographies.
Automotive Key Blanks Market: Segment
The global Automotive Key Blanks market has been segmented by Product type, by Material type, by Vehicle type and by sales channel
On the basis of Product type, the global Automotive Key Blanks market has been segmented as:
- Plastic and Metal Head Automotive Key Blanks
- Transponder Technology Automotive Key Blanks
On the basis of Material type, the global Automotive Key Blanks market has been segmented as:
- Brass Automotive Key Blanks
- Nickel Silver Automotive Key Blanks
- Others Automotive Key Blanks
On the basis of vehicle type, the global Automotive Key Blanks market has been segmented as:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
On the basis of sales channel, the global Automotive Key Blanks market has been segmented as:
- Original Equipment Manufacturer (OEM)
- Aftermarket
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