Automotive Closure Market Dynamics and Analysis by 2031

The automotive closure market is expected to register a CAGR of 7.2% during 2023–2031. The evolution of advanced technologies in vehicles is likely to remain a key trend in the market.

Automotive Closure Market Analysis

• The automotive closure market is driven by the growing emphasis on safety and hands-free operations, as well as the switch from steel to aluminum in automotive closure manufacturing.
• Some of the factors propelling the market growth are improvements in the vehicle’s overall performance and lower fuel and energy consumption due to the use of lighter materials in the vehicles.
• Additionally, factors anticipated to support the growth of the automotive closures market include the development of an integrated closure system to meet safety standards, comfort level, and increased vehicle efficiency.

Automotive Closure Market Overview

• Automobile closures consist of a variety of parts, including bonnets, sliding doors, rear doors, fuel doors, sunroofs, and windows.
• These closures were formerly operated manually, but after years of research and development by the auto industry, they now operate electrically.
•  To lower carbon emissions and boost fuel efficiency, automakers are focusing on new, innovative techniques to decrease weight.
• Automotive closures and the implementation of electronics allow aluminum to be utilized in the shift toward lighter cars.
• The growing consumer demand for comfort and luxury in cars has propelled the automotive closure industry.
• With the advent of biometric vehicle access systems, the market for automotive closure is anticipated to grow. Furthermore, the growing adoption of autonomous cars helps the market grow.

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Automotive Closure Market: Strategic Insights

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Automotive Closure Market Drivers and Opportunities

Growing Focus on Technological Advancement in Vehicles to Favor the Market

• The growing advancement in vehicle technology and the need for advanced features is one of the prime reasons acting as a major driver for the market
• Lighter materials are used in automotive closures due to a greater focus on fuel economy and emission control.
• Manufacturers are increasingly using lightweight, high-strength alloys and composites for doors, hoods, and trunks. Owing to this, the vehicle weighs less overall, which increases fuel economy and reduces CO2 emissions.
• Furthermore, the advancement of 3D printing technology opens up an opportunity for the production of complex, lightweight closure parts with well-thought-out layouts.
• Increasing consumer preference for high-end vehicles with more luxury and security features is also driving the growth of the automotive closure market.

Increasing Consumer Preference towards Comfort and Convenience

• The automotive closure market is driven by growing consumer demand for comfort and convenience features in cars.
• Enhancing the overall driving experience and convenience features such as hands-free liftgates, power-operated doors, automated closing mechanisms, and keyless entry systems satisfy consumers' desire for smooth and easy vehicle operation.
• to remain competitive and cater to changing consumer preferences, automakers continuously incorporate these features into vehicles.

Automotive Closure Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive closure market analysis are component and application.

• Based on components, the automotive closure market is divided into switches, ECUs, latches, relays, motors/actuators, and others.
• based on the application, the market is divided into power windows, sunroof, tailgate, convertible roofs, side doors, and sliding doors.

Automotive Closure Market Share Analysis by Geography

• The automotive closure market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive closure market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive closure market in these regions.

Automotive Closure Market Regional Insights

The regional trends and factors influencing the Automotive Closure Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Closure Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automotive Closure Market Report Scope

Automotive Closure Market Players Density: Understanding Its Impact on Business Dynamics

The Automotive Closure Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automotive Closure Market are:

1. Continental AG
2. Magna International Inc.
3. Denso Corporation
4. Aisin Seiki Co., Ltd.
5. Johnson Electric

Disclaimer: The companies listed above are not ranked in any particular order.

Automotive Closure Market News and Recent Developments

The automotive closure market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive closure market are listed below:

• Denso Corporation has announced that it has developed "Everycool," an advanced cooling system that provides comfort and energy efficiency when a commercial vehicle’s engine is off. This product is available for purchase in Japan through Denso Solution Corporation. (Source: Denso Corporation, Company Website, September 2023)
• Mitsubishi Electric Corporation, Mitsubishi Electric Mobility Corporation (Mitsubishi Electric and Mitsubishi Electric Mobility are collectively referred to as “Mitsubishi Electric Group.”) and AISIN CORPORATION announced today the three companies have reached a basic agreement to establish a joint venture (the “JV”) company to handle products for next-generation electric vehicles (EVs) (the “Transaction”). (Source: AISIN, Company Website, May 2024)

Automotive Closure Market Report Coverage and Deliverables

The “Automotive Closure Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive closure market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive closure market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive closure market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive closure market
• Detailed company profiles