Mergers & Acquisitions Reshaping the market Dynamics of the Automotive Closure Market

 Automotive Closure Market overview

Integration of electronics has offered new growth dimensions to automotive safety systems. With the integration of electronics into closure systems, advancing closure technology is estimated to open new platforms for the market's growth. Producers, these days, are feeling forced to decrease the overall weight of automobile components to bring down the overall weight of automobiles, which is eventually decreasing carbon emission to below the tolerable limit. The automotive closure market is predicted to grow at a rate of 7% CAGR approximately within the forecast period.

Automotive closure is the parts of an automobile that have a complex and characteristic arrangement that simplify various movements such as opening and closing of doors, sliding etc. automotive parts like bonnets, side doors, back doors, sliding doors, sunroofs, windows, hoods and fuel doors these are also referred as automotive closers. The closures were previously mechanically operated. The increasing research and developments in the automobile industry have led to the integration of electronics in automotive closures; therefore, it has led to the development of novel product solutions. The most crucial part of an automobile is the overtime evolution of electronics.

Request Free Sample Report  of Automotive Closure Market  

However, it also leads to increased efficiency of vehicles. So, research and developments are being conducted in this field to develop more efficient and lighter electronic automotive closures with effectiveness and the best work-life. The companies in the closure market are broadly focusing on research and development to create an integrated closure system that accepts all the safety standards and, at the same time, also helps to increase vehicle efficiency, comfort and fuel efficiency by reducing the weight of the mechanism. These factors will help in the growth of the automotive closures market during the estimated period.

Automotive Closure Market Key Players

·       Toyota Motor Corporation (Japan)

·       Magna International Inc. (Canada)

·       Honda Motor Company Ltd. (Japan)

·       Continental AG (Germany)

·       Aisin Seiki. Co. Ltd (Japan)

·       BMW (Germany)

·       Robert Bosch GmbH (Germany)

·       Daimler AG (Germany)

·       The Ford Motor Company (U.S.)

Automotive Closure Market segmentation

By Type

·       Manual

·       ·Powered

By Product Type

·       Bonnet

·       Roof

·       Windows

·       Doors

·       Rear Hatch

·       Fuel Doors

By Component

·       Electronic Control Unit

·       Switch

·       Latch

·       Motor & Actuator

·       Relay

By Sales Channel

·       OEM

·       Aftermarket

By Region

North America

·       The U.S.

·       Canada

Europe

·       Germany

·       France

·       the U.K.

·       Italy

·       Spain

·       Russia & CIS

·       Rest of Europe

Asia Pacific

·       China

·       Japan

·       India

·       ASEAN

·       Rest of Asia Pacific

Latin America

·       Brazil

·       Mexico

·       Rest of Latin America

Middle East & Africa

·       GCC

·       South Africa

·       Rest of the Middle East & Africa

Automotive Closure Market Regional analysis

The market is divided into four parts such as North America, Asia Pacific, Europe, and the Rest of the World based on region. The North American region is considered one of the largest automotive markets globally. Owing to the high per capita income and high rate of preference for owning a personal vehicle by people, automotive sales in this region are constantly high. The Asia Pacific market is accounted as the next automotive center globally. People here have increased per capita income, and they don't mind spending extra for additional features that provide comfort and satisfaction. The Europe region is well known for its customers preferring expensive cars with the best features. Thus, the automotive closure market has incredible growth potential worldwide in all the main automotive markets.

Automotive Closure Industrial news

In 2020 the increase in consumer demand for comfort and luxury in vehicles and the emergence of biometric vehicle access systems were estimated to fuel the growth of the automotive closure market for EV & ICE.

Read more insightful report:

Electronic Stability Control System Market

Battery Management System Electric Vehicles Market

Public Transport Market

Automotive Intelligence Battery Sensor Market

Vehicle Anti-Theft Market