NEW YORK, March 7, 2017 /PRNewswire/ -- "In order to meet the emerging trend of technological advancements in the industry and increase in vehicle safety and security concerns, car door latch manufacturers are focusing on development of electronic latches."
The global car door latch market is projected to reach USD 6.59 billion by 2021, growing at a CAGR of 5.80%. The fastest growing trend in the car door latch market is electronic latches. The demand for electronic latches has increased because of technological advancements and increase in vehicle safety and security concerns. However, fluctuations in global automotive production and sales is a restraint for the car door latch market.
"The side door latch segment is estimated to be the fastest growing segment."
The side door latch segment is estimated to be the fastest growing segment of the car door latch market in 2016, owing to a rise in global demand for automobiles. The per vehicle usage of side door latches is highest, at 4 compared to 1 to 2 for other latch types such as tail gate, hood, and seat, per vehicle. Hence, the side door latch segment is the fastest growing segment. The active inertia latch and LED latch segments are estimated to dominate the automotive latch market in 2017.
"Asia-Pacific is the largest region in the global car door latch market."
In 2016, the largest regional market for car door latches was the Asia-Pacific market, which holds a majority of the market share of the global automotive latch market, by value and volume. The Asian automotive latch market is projected to be the largest market owing to increasing vehicle production and sales due to an increase in disposable income in countries like India and China. The demand for advance technology latches such as LED and power latches, among others, contributes a major market share of the global car door latch market.
The study contains insights provided by various industry experts, ranging from latch manufacturers to automobile OEMs, and various automotive associations.
The break–up of the primaries is as follows:
By Company Type: Tier I–65%, Tier II–14%, and OEMs–21%
By Designation: C-Level–42%, D-Level–21%, and Manager level–37%
By Region: North America-17%, Europe-33%, and Asia-Pacific-50%
Players Profiled in the Report are:
- Aisin Seiki Co., Ltd.
- Mitsui Mining and Smelting Co., Ltd.
- Kiekert AG
- Magna International, Inc.
- Strattec Security Corporation
- Brose Fahrzeugteile Gmbh & Co.
- U-Shin, Ltd.
- Shivani Locks Pvt. Ltd.
- Inteva Products, Llc
- Minda VAST Access Systems Pvt. Ltd.
The report covers the global car door latch market based on application (side door latch, hood latch, tailgate latch, and back seat latch), lock type (electronic and non-electronic), vehicle type (passenger car and light commercial vehicle), and region (North America, Europe, Asia-Pacific, and RoW). The report covers the car door latch market in terms of volume ('000 units) and in terms of value (USD million).
Reasons to Buy the Report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about the car door latch market offered by the top players in the industry
- Regulatory Framework: Detailed insights into stringent emission norms, leading to reduction in weight of automotive components, and safety regulations, and the effect of the regulations on the car door latch market
- Market Development: Comprehensive information about various latch technology trends. The report analyzes the markets for various car door latch technologies across countries
- Market Diversification: Exhaustive information about emerging technologies, recent developments, and investments in the global car door latch market
- Competitive Assessment: In-depth assessment of strategies, services, and manufacturing capabilities of the leading players in the global automotive latch market
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