The global automotive door hinges market is anticipated to witness substantial growth, with a projected valuation of US$ 4.6 billion in 2023, expected to reach US$ 7.9 billion by 2033, trailing a commendable compound annual growth rate (CAGR) of 5.5% during the forecast period.
This growth trajectory is fueled by several key factors. Firstly, the increasing popularity of electric vehicles, renowned for their high reliability and durability, is expected to significantly contribute to market expansion. Additionally, the growing urbanization worldwide, coupled with the subsequent rise in demand for private transportation, is poised to further propel the market’s growth. Furthermore, the automotive industry’s emphasis on shorter lead times and reduced requirements for equipment and machinery is anticipated to drive demand for automotive door hinges, as manufacturers prioritize efficiency and cost-effectiveness in their production processes. Collectively, these factors underscore the pivotal role of automotive door hinges in supporting the evolving needs of the automotive sector and highlight their significance in ensuring the performance, safety, and functionality of vehicles in today’s dynamic market landscape.
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The increasing emphasis on driver and passenger safety is driving the demand for efficient Automotive Door Hinges systems. Moreover, technological advancements in the automotive sector have resulted in a surge in the demand for advanced tailgate hinges and bonnet hinges, which address vehicle safety and security concerns. These factors play a significant role in propelling the market for automotive door hinge systems.
Increasing urbanization and industrialization, coupled with the expanding working population’s demand for private commuting, is anticipated to drive the automotive hinges market growth. Furthermore, the development of infrastructure on a global scale is likely to fuel the demand for commercial vehicles, which in turn may impact the demand for automotive hinges.
Government investments in public roadways transportation are expected to drive the automotive hinges market. Additionally, the introduction of electric-operated hinges is likely to boost the demand for automotive hinges on a global scale. The growing trend of customized vintage cars also presents significant opportunities for the automotive hinges market.
Key Takeaways
- United States automotive door hinges market is expected to grow with a CAGR of 5.3% during the forecast period.
- The market in China is expected to grow with a CAGR of 5.7% during the forecast period.
- By sales channel, aftermarket is projected to grow with a significant CAGR of 5.9% during the forecast period.
- By material, steel segment is expected to grow with a CAGR of 6% throughout the forecast period.
The introduction of electrically operated hinges and rising popularity of sports utility vehicles is expected to drive market growth during the forecast period- comments an FMI Analyst
Competitive Landscape
The automotive door hinges market is highly competitive, with several key industry players investing heavily in the production of these services.
The key industry players are Dura Automotive LLC, Magna International Inc., Aisin Seiki Co. Ltd., DEE Emm Giken, ER Wagner, Midlake Products & Mfg. Company Inc., Pinnet Industrie, Monroe Hinge, Gestamp Group, Multimac Inc., Brano Group, Rell Precision Manufacturing Inc., The Paneloc Corporation, Saint Gobain.
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Key Segments Profiled in the Automotive Door Hinges Market Industry Survey
By Sales Channel:
- OEM
- After Market
By Material:
- Steel
- Aluminum
- Brass/Bronze/Composite Material
By Product Type:
- Front & Rear Automotive Door hinges
- Tailgate Hinges/ Bonnet Hinges
By Vehicle Type:
- Passenger Car
- Compact
- Mid-Size
- Luxury
- SUV
- LCV
- HCV
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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