Automotive Closure Market:
Automotive closures are parts that are hinged to the main carbody allowing persons to exit or enter the vehicle. Innovative vehicle designsand stringent norms on driver and passenger safety can make up a large part ofproduction strategy of closures. The global automotive closure market report by Market Research Future (MRFR) issegmented by application, component, and type for offering an unbiased view ofthe industry and supported by growth engines, obstacles, opportunities, andtrends for the period of 2017 to 2023 (forecast period). The COVID-19 outbreakand its impact on the automotive sector have been covered in the report.
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Market Scope
The global automotive closure market is estimated to grow ata CAGR of 7% over the forecast period.
Segmentation
On the basis of application, the most widely usedapplications of the automotive closure system (which are economical, to fit),are the power windows and sliding doors. Applications, such as sunroof andconvertible roof, fall into the luxury automobile category and hence, cannot befitted into budget vehicles.
On the basis of component, motor & actuator and switchare the most widely used in all types of automobile. Relay and latch mechanismsfall under the technology, which was used in the times before the invention andwidespread use of electronics in the automotive manufacturing process. Thus,though not favored, these relay and latch mechanisms are particularly used incase of budget automobiles.
On the basis of type, manual variety is used more indeveloping markets and budget automobiles, while the automatic variety ispreferred in mid to high-end automobiles.
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Regional Analysis
North America region (the U.S. and Canada, specifically) isone of the largest automotive markets in the world. Due to the high per capitaincome and high preference of people towards owning a personal vehicle (minimum1 automobile per person), the automotive sales in this region are consistentlyhigh. The Asia Pacific market is considered to be the next automotive hub inthe world. People here have rising per capita income and don’t mind spendingmore for added features providing comfort and satisfaction. The Europe regionis known for its customers preferring high-end cars with best possiblefeatures. Thus, the automotive closure system has tremendous growth potentialin all the major automotive markets the world over.
Competitive Outlook
Toyota Motor Corporation, BMW, Daimler AG, Aisin Seiki. Co.Ltd, Magna International Inc., Continental AG, The Ford Motor Company, HondaMotor Company, Ltd., and Robert Bosch GmbH are prominent players of the globalautomotive closure market.
Table OfContents
1 Executive Summary
2 ScopeOf The Report
2.1 MarketDefinition
2.2 Scope OfThe Study
2.2.1Definition
2.2.2Research Objective
2.2.3Assumptions
2.2.4Limitations
2.3 ResearchProcess
2.3.1Primary Research
2.3.2Secondary Research
2.4 MarketSize Estimation
2.5 ForecastModel
3 MarketLandscape
3.1 Porter’sFive Forces Analysis
3.1.1 ThreatOf New Entrants
3.1.2Bargaining Power Of Buyers
3.1.3 ThreatOf Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
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