Automotive Closure Market

Global Automotive Closure Market Size (2023 to 2028)

The global automotive closure market is expected to be valued at USD 21.39 billion in 2023 and is predicted to reach a valuation of USD 31.06 billion, growing at a CAGR of 7.75% during the forecast period 2023 to 2028.

The automotive industry is mainly working on customer feedback and approval of cars on the market. The closures and doors of automobiles are an integral part of the vehicle since the closure of the vehicle is through these closures, especially when the vehicle is stopped. Locks and doors are an essential part of automotive design and, therefore, an integral and complex part of general aerodynamics and other critical features. It is, therefore, imperative to assign dedicated teams within the automotive manufacturing company to address these appropriate concerns.

Market Drivers and Restraints:

The main drivers of this market are the increasing consumer demand for comfort and luxury in vehicles, the growing complexity of mechanical operations, the lightweight design of the automotive lock, and the demand for quiet, smooth operations. These factors lead to increased demand for closure applications in vehicles. The higher cost of electronic system components is a key factor slowing the growth of the automotive closure market. Advanced automated systems involve high development costs. This means that companies must invest heavily in research and development to develop and test advanced electronic systems. The high costs involved limit the adoption of auto closures by OEMs.

REPORT COVERAGE:

 This market research report on the global automotive closure market is segmented and sub-segmented into the following categories 

 Automotive Closure Market - By Application:

• Power-Window    
• Sunroof    
• Tailgate     
• Convertible Roof  
• Sliding Door            
• Side Door              

Applications such as the sunroof and sunroof are part of the luxury car category and, therefore cannot be installed in economical vehicles.

Automotive Closure Market - By Component:

• Switch       
• ECU            
• Latch          
• Motor/Actuator    
• Relay                      

The relay and coupling mechanisms are based on the technology that was used in the pre-invention time and the widespread use of electronics in the automotive manufacturing process. Therefore, although not preferred, these relays and interlocking mechanisms are primarily used in the case of economy automobiles.

Automotive Closure Market - By Type:

• Manual     
• Powered  

Based on type, manual variety is more widely used in developing markets and low-cost automobiles, while automatic variety is preferred in mid-to-high-range cars.

Automotive Closure Market - By Region:

The Global Electric Vehicle Communication Controller Market Report includes the segmentation of regions:

• North America - U.S, Canada
• Europe – Norway, Germany, Sweden
• Asia Pacific- China, India, Japan
• Latin America – Brazil, Mexico, Argentina
• Middle East and Africa

The North American region (the United States and Canada in particular) is one of the largest automotive markets in the world. Due to the high per capita income, and the top preference of people for owning a personal vehicle (minimum one car per person), car sales in this region are still high.

Market Key Players:

The ecosystem of the automotive closure market includes manufacturers and service providers such as

Continental AG (Germany), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), Aisin Seiki. Co. Ltd. (Japan), Volkswagen AG (Germany), General Motors (USA), Toyota Motor Corporation (Japan), Maruti Suzuki (Japan), Hyundai, and Nissan are playing a dominant role in the global automotive closure market.

Target group:

• Manufacturers of automotive locking systems and component suppliers.
• Raw material manufacturers for automotive locking system components (suppliers for level I)
• Automotive equipment suppliers
• Industrial associations and other manufacturers of body control systems.
• Government and regional environmental regulatory agencies or agencies.
• The automotive industry and industries related to the end-user

Automotive Closure Market Key Points:

1. A full context analysis, which includes an evaluation of the parent market
2. Significant changes in market dynamics.
3. Segmentation of the market in the second or third level.
4. The historical, current, and projected market size in value and volume.
5. Inform and evaluate the latest developments in the industry.
6. Market shares and strategies of the leading players.
7. Segments of emerging niches and regional markets.
8. An objective evaluation of the market's trajectory.
9. Recommendations to companies to strengthen their presence in the market.