Global Automotive Closure Market 2019: Industry Analysis Research Report

Posted by Abhijeet Bendre on March 11th, 2019

Automotive Closure Market is predicted to grow at approximately 7% CAGR by 2023. Report analyzes Automotive Closure Market by Application Information (Sunroof, Power Window, Side Door, Sliding Door, Convertible Roof), Component (ECU, Switch, Motor & Actuator, Latch, Relay), Type (Manual, Powered), Vehicle Type, Region - Global Forecast to 2023.

The key players in automotive closure market are 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), and The Ford Motor Company (U.S.) .

The automotive industry functions primarily on the customer feedback and approval of the automobiles in the market. The automotive closures and doors form an integral part of an automobile since the handling of the automobile takes place through these closures, especially when the vehicle is stationary. The closures and doors comprise a large part of the automobile design and thus, form an integral and complex part while considering the overall aerodynamics and other criticalities. This makes it imperative to assign dedicated teams within the automotive manufacturing organization to address these appropriate concerns.

There are several factors that are responsible for the growth of automotive closure market over time in the global scenario. Firstly, enhanced awareness amongst consumers about safety and related features in the automotive sector. Secondly, the automotive industry of today’s times is much more competitive than what it used to be, thus, compelling manufacturers to produce unique vehicles that sound out in terms of the quality offered. Thirdly, closures, such as power windows, sunroof, and electronic door locking system, provide greater comfort and enhanced customer experience. Thus, increasing the popularity of the automobile, contributing to eventual sales. The global automotive closure market is estimated to grow at a CAGR of approx. 7% (2017 to 2023).

Automotive Closure Market by Segmentation:

On the basis of application, the most widely used applications of the automotive closure system (which are economical, to  fit), are the power windows and sliding doors. Applications, such as sunroof and convertible roof, fall into the luxury automobile category and hence, cannot be fitted into budget vehicles. On the basis of component, motor & actuator and switch are the most widely used in all types of automobile. Relay and latch mechanisms fall under the technology, which was used in the times before the invention and widespread use of electronics in the automotive manufacturing process. Thus, though not favored, these relay and latch mechanisms are particularly used in case of budget automobiles. On the basis of type, manual variety is used more in developing markets and budget automobiles, while the automatic variety is preferred in mid to high-end automobiles.

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