Global Car Door Latch Market was valued US$5.65 Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast.
Global Car Door Latch Market is segmented into by application, by lock type, by vehicle and by region. Based on application, Car Door Latch Market is classified into Side Door Latch, Hood Latch, Tailgate Latch & Back Seat Latch. In lock type are parted into Electronic & Non-Electronic. In Vehicle are segmented into Passenger car & Light Commercial Vehicle. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2026.
Global Car Door Latch Market
Driving factors of car door latch market are rising demand and production of vehicles. Increase in demand and sales of commercial vehicles with technological advancements, government stringent emission norms, trending smart lock and higher disposable incomes of the consumers leading to higher demand. Rising primary safety from accidents and growing consumer preferences in application of car door lock in luxury and passenger’s cars have created huge demand in market for Car Door Latch Market.
High cost of replacement and emerging competitors can hamper the growth of car door latch market.
In terms of Application, Side door latch segment shares the largest market during the forecast period. Increase in production of passenger vehicle across the globe and rapid urbanization and rising drivers and passenger safety. In Trends applications are demanding better locking system with side door latch and usage of side door latches is the market as compared to other latch and provide best opportunity to growth in market.
In terms of Vehicle, Passenger car segment is projected to grow at fastest during the forecast period. Future automobiles will need to satisfy stringent emission standards and the best way to do it with exciting technologies also to reduce accidental damage. Increasing production, increasing trend of extended cab and demand for passenger are growing much higher than previous year will boost the demand for car door latch market.
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