With the need for effective security in automobiles, automobile manufacturers are propelling towards enhancing the safety of car door latch systems for offering greater security to passengers.
APEJ to Showcase Tremendous Scope for Penetration of Car Door Latch Market
Amongst the other seven regional segments including Japan, Western Europe, North America, Eastern Europe, Asia Pacific excluding Japan, Latin America, and Middle East & Africa, APEJ region is estimated to be an attractive market for car door latch manufacturers. The production of automobiles is relatively higher in Asian countries such as India and China than in North American and Western European countries. With the sale of nearly 25 million passenger cars in the year 2017 in China alone, APEJ showcases tremendous scope for car door latch business in the forthcoming years, as car door latch is amongst the crucial components required in the production of automobiles.
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Western Europe and North America are seen promoting and adopting vehicle automation on a large scale, owing to which these regions are expected to be highly promising when it comes to production of advanced car door latch mechanisms and smart car door latch systems. Brazil and Mexico inhabit a considerable number of automotive plants owing to which the demand for car door latch is anticipated to gain a boost in Latin America. The Eastern European market for car door latch is also expected to showcase promising growth as major car manufacturing companies focus on setting up production units in its nations. For example, Brose would supply car door latch to the electric taxis which are expected to gain major traction in the European market owing to the stringent emission guidelines in the region.
Manufacturers Shifting towards Advanced Car Door Latch Alternatives for Better Safety and Control
Automobile manufacturers are constantly working towards providing enhanced vehicles that are equipped with the next-generation systems and interiors to improve the overall mobility experience. With advanced systems that offer extended control improve the overall commercial value of automobiles. Moreover, the overall increased purchasing power of consumers which is expected to boost the sales of cars more like a necessity than a luxury is estimated to contribute to the demand growth of car door latch.
Technological advancements are undoubtedly one of the major growth drivers of the car door latch market. With technologies such as enhanced locking mechanisms, smart sensors, touch-enabled locking systems, and others that are emerging rapidly with their introduction in the leading-edge automobiles, the future seems enormously promising for the car door latch market. Furthermore, leading players in car door latch market are focused on producing next-generation car door latch mechanisms to cater to the emerging automobiles of the future. For instance, Kiekert, one of the active players in the market, is innovating car locking systems with their smart car door latch that is designed for the autonomous vehicles, which is technologically advanced and allows opening of doors with fingerprints.
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Car Door Latch Market to Project Robust Growth as Companies Adopt Next-generation Technology for Product Innovation
Market players in the car door latch market are seen innovating their product portfolio with the help of cutting-edge technology such as sensors enabled with wireless technology to bring in efficiency and enhanced security for vehicle occupants. The major car door latch market players contributing to the car door latch market include Shivani Locks Pvt. Ltd., Llc, AISIN Manufacturing Illinois, LLC, Batsons Industries, Kiekert AG, WHEEL MOVERS (INDIA) PVT. LTD, PRABHA ENGINEERING PVT. LTD., Minda VAST Access Systems Pvt. Ltd., Magna International, Inc., Inteva Products, Strattec Security Co., Brose Fahrzeugteile Gmbh & Co., and U-Shin Ltd.
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U-Shin Ltd. a key player in the car door latch market registered a sales growth of over 2 percent in the automotive division with operating income rise owing to the steady movement in their domestic market. These stats reflect a healthy opportunity for their car door latch product designed for the automotive domain.
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