Global Automotive Door Latch Market Set to Reach US$ 9.3 Billion by 2033

The global automotive door latch market is likely to expand at a CAGR of 4% through 2033. The market is expected to reach a value of  US$ 9.3 billion by 2033, from US$ 6.0 billion in 2023.

  • New-age features such as smart sensors and touch-enabled locking systems are appealing to a wider consumer base.
  • Expansion of the automotive industry due to the rise in disposable incomes
  • Diverse application of automotive door latches for the manufacture of aircraft, medical equipment, as well as chemicals.

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Few Factors Deterring the Market Growth:

  • High cost of equipment
  • Operational as well as functional impediments

Innovations Help Key Players Sustain Market Growth

Currently, there is a growing demand for new variants due to a surge in the demand for electric and hybrid vehicles. This is also bolstered by the current collective government efforts incentivizing the adoption of electric/hybrid cars. Hence, the key payers need to innovate for developing custom designs.

The demand for automotive parts for premium cars is also on the rise. Manufacturers need to build sophisticated and highly efficient automotive latches for utility in these sophisticated automobiles. Currently, consumers are keen on improving ease of operation, while not compromising on the safety aspects. There is also demand for specialized automotive latches that help prevents theft in vehicles. It Is one of the major uses of specialized automotive latches.

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Market innovations Bolstered by Key Mergers :

Enhancement of product profile through technological innovations is the key focus of market players. To further such endeavors, the current trends point to rampant mergers and acquisitions. New-age technologies such as AI and smart sensors are being implemented through the resource pooling of key players. A growing trend is there of partnerships with technological giants.

Automotive Latch Market  – Key Developments::

  • Magna recently launched the comfort plus door latch that aims to improve efficiency and reduce noise. The product does this effectively by converting sliding friction into rolling friction for ease. It Is one of the key uses of this product and benefits immensly.
  • Honeywell recently adopted the “corporate latch” strategy in which the same latch is used across different manufacturing platforms. Honeywell’s latest design is meant to help maximize reuse while reducing the tooling costs.
  • Latch, recently launched Latch OS, which enables the smart integration with Honeywell thermostats, Sonos speakers, and even Leviton light switches. All these can be centrally controlled using the Latch app.
  • August is a startup system that aims at providing smart access/ latch systems. It can also be controlled through a mobile application to prevent thefts.

Leading Key Players operating in the Automotive Latch Market are given below:

  • STRATTEC
  • Kiekert AG
  • Inteva Products LLC
  • Aisin Seiki Co. Ltd.
  • Magna International Inc.
  • WITTE Automotive GmbH
  • Brose Fahrzeugteile GmbH & Co. KG
  • U-Shin Ltd
  • Shivani Locks Private Limited
  • MITSUI KINZOKU

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Automotive Door Latch Market by Category

By Latch Type:

  • Side Door Latch
  • Tailgate Latch
  • Hood Latch

By Function:

  • Electronically Operated
  • Mechanically Operated

By Vehicle Type:

  • Compact Car
  • Mid-Size
  • Luxury Car
  • SUV
  • HCV
  • LCV

By Sales Channel:

  • Aftermarket
  • OEM

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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