The global Automotive Door Latch Market is expected to witness steady growth in the coming years, thanks to increasing consumer awareness and increased investment in the automotive industry. By 2021, the automotive door latch market is projected to reach US$1.5 billion in the United States alone. Other key regional markets include Canada and Japan, which are projected to grow at a rate of 2.5 percent and 4.2%, respectively. In Europe, Germany is expected to grow at a rate of 2.9 percent.
This report provides an extensive analysis of the global Automotive Door Latch market, based on key segments including product type, end-use industry, and geography. It also outlines the competitive landscape of key players in the market. The report also identifies key trends and future market opportunities for automotive door latches. In addition to providing insights on the global market, this report includes company profiles and a competitive analysis of each of the major players.
The key drivers driving the growth of the Automotive Door Latch Market are increasing demands for safety-modified vehicles, which require more advanced latches. The increasing demand for automotive door latches is complemented by the growing trend toward automobile security. In addition, the market for automotive door latches is expected to grow as a result of increasing popularity of extended cab light commercial vehicles. A growing population is expected to fuel the growth of the automotive door latch market during the forecast period.
According to Research Nester, the global automotive door latch market will grow at a moderate 6.4% CAGR from 2018 to 2027. By 2027, the market is projected to reach USD 7,200 million. The market is further segmented based on application type, with side door latches leading the overall car door latch market. Further, the report covers the key trends in automotive door latches. This research report will help decision-makers to make informed business decisions.
In addition to primary research, secondary sources are crucial for capturing important industry insights. TMR Research analysts conduct an exhaustive analysis of the competitive landscape. Their reports contain insights on the current competitive landscape, along with their observations. After the COVID-19 outbreak, TMR Research analysts have conducted a diligent survey across the key sectors to update their forecasts. The report contains brilliant and thoroughly researched opinions from industry experts, which will help stakeholders formulate an appropriate strategy.
