Automotive Closure Market Key Players Analysis 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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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Closure Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global automotive closure market is expected to grow at a CAGR of 7.2% during the forecast period 2023 - 2031.
An increase in sales of high-end vehicles is anticipated to play a significant role in the global automotive closure market in the coming years.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
The leading players operating in the automotive closure market are Continental AG, Magna International Inc., Denso Corporation, Aisin Corporation, Seiki Co, Ltd., Johnson Electric, Omron Corporation, Robert Bosch Gmbh, Panasonic Corporation, Delphi Automotive PLC.
The rapid advancement of vehicle technology is one of the major factors driving the automotive closure market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2. KEY TAKEAWAYS
3. AUTOMOTIVE CLOSURE MARKET LANDSCAPE
3.1. OVERVIEW
3.2. MARKET SEGMENTATION
3.2.1. Automotive closure Market - By Component
3.2.2. Automotive closure Market - By Application
3.2.3. Automotive closure Market - By Region
3.2.3.1. By Country
3.2.4. PEST Analysis
3.2.4.1. North America - PEST Analysis
3.2.4.2. Europe - PEST Analysis
3.2.4.3. Asia Pacific (APAC) - PEST Analysis
3.2.4.4. Middle East & Africa (MEA) - PEST Analysis
3.2.4.5. South America (SAM)- PEST Analysis
4. AUTOMOTIVE CLOSURE MARKET - KEY INDUSTRY DYNAMICS
4.1. KEY MARKET DRIVERS
4.2. KEY MARKET RESTRAINTS
4.3. KEY MARKET OPPORTUNITIES
4.4. FUTURE TRENDS
4.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
5. AUTOMOTIVE CLOSURE MARKET - GLOBAL MARKET ANALYSIS
5.1. AUTOMOTIVE CLOSURE - GLOBAL MARKET OVERVIEW
5.2. AUTOMOTIVE CLOSURE - GLOBAL MARKET AND FORECAST TO 2025
6. AUTOMOTIVE CLOSURE MARKET REVENUE AND FORECASTS TO 2028 -COMPONENT
6.1. OVERVIEW
6.2. COMPONENT MARKET FORECASTS AND ANALYSIS
6.3. SWITCH
6.3.1. Overview
6.3.2. Switch Market Forecast and Analysis
6.4. ECU
6.4.1. Overview
6.4.2. ECU Market Forecast and Analysis
6.5. LATCH
6.5.1. Overview
6.5.2. Latch Market Forecast and Analysis
6.6. RELAY
6.6.1. Overview
6.6.2. Relay Market Forecast and Analysis
6.7. MOTOR/ACTUATOR
6.7.1. Overview
6.7.2. Motor/Actuator Market Forecast and Analysis
6.8. OTHERS
6.8.1. Overview
6.8.2. Others Market Forecast and Analysis
7. AUTOMOTIVE CLOSURE MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. POWER WINDOW
7.3.1. Overview
7.3.2. Power Window Market Forecast and Analysis
7.4. TAILGATE
7.4.1. Overview
7.4.2. Tailgate Market Forecast and Analysis
7.5. SUNROOF
7.5.1. Overview
7.5.2. Sunroof Market Forecast and Analysis
7.6. CONVERTIBLE ROOF
7.6.1. Overview
7.6.2. Convertible Roof Market Forecast and Analysis
7.7. SLIDING DOOR
7.7.1. Overview
7.7.2. Sliding Door Market Forecast and Analysis
7.8. SIDE DOOR
7.8.1. Overview
7.8.2. Side Door Market Forecast and Analysis
8. AUTOMOTIVE CLOSURE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1. North America Automotive closure Market Overview
8.1.2. North America Automotive closure Market Forecasts and Analysis
8.1.3. North America Market Forecasts and Analysis - By Countries
8.1.3.1. US market
8.1.3.2. Canada market
8.1.3.3. Mexico market
8.1.4. North America Market Forecasts and Analysis - By Component
8.1.5. North America Market Forecasts and Analysis - By Application
8.2. EUROPE
8.2.1. Europe Automotive Closure Market Overview
8.2.2. Europe Automotive Closure Market Forecasts and Analysis
8.2.3. Europe Market Forecasts and Analysis - By Countries
8.2.3.1. France market
8.2.3.2. Germany market
8.2.3.3. Italy market
8.2.3.4. Spain market
8.2.3.5. UK market
8.2.4. Europe Market Forecasts and Analysis - By Component
8.2.5. Europe Market Forecasts and Analysis - By Application
8.3. ASIA PACIFIC (APAC)
8.3.1. Asia Pacific Automotive Closure Market Overview
8.3.2. Asia Pacific Automotive Closure Market Forecasts and Analysis
8.3.3. Asia Pacific Market Forecasts and Analysis - By Countries
8.3.3.1. Australia
8.3.3.2. China market
8.3.3.3. India market
8.3.3.4. Japan market
8.3.4. Asia Pacific Market Forecasts and Analysis - By Component
8.3.5. Asia Pacific Market Forecasts and Analysis - By Application
8.4. MIDDLE EAST AND AFRICA (MEA)
8.4.1. Middle East and Africa Automotive closure Market Overview
8.4.2. Middle East and Africa Automotive closure Market Forecasts and Analysis
8.4.3. Middle East and Africa Market Forecasts and Analysis - By Countries
8.4.3.1. South Africa market
8.4.3.2. Saudi Arabia market
8.4.3.3. UAE market
8.4.4. Middle East and Africa Market Forecasts and Analysis - By Component
8.4.5. Middle East and Africa Market Forecasts and Analysis - By Application
8.5. SOUTH AMERICA (SAM)
8.5.1. South America Automotive Closure Market Overview
8.5.2. South America Automotive Closure Market Forecasts and Analysis
8.5.3. South America Market Forecasts and Analysis - By Countries
8.5.3.1. Brazil market
8.5.4. South America Market Forecasts and Analysis - By Component
8.5.5. South America Market Forecasts and Analysis - By Application
9. INDUSTRY LANDSCAPE
9.1. MERGERS & ACQUISITIONS
9.2. MARKET INITIATIVES
9.3. NEW DEVELOPMENTS
9.4. INVESTMENT SCENARIOS
10. COMPETITIVE LANDSCAPE
10.1. COMPETITIVE INDUSTRY MAPPING
10.2. MARKET POSITIONING/ MARKET SHARE
11. AUTOMOTIVE CLOSURE MARKET, KEY COMPANY PROFILES
11.1. CONTINENTAL AG
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Financial Overview
11.1.4. SWOT Analysis
11.1.5. Key Developments
11.2. MAGNA INTERNATIONAL INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Financial Overview
11.2.4. SWOT Analysis
11.2.5. Key Developments
11.3. DENSO CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Financial Overview
11.3.4. SWOT Analysis
11.3.5. Key Developments
11.4. AISIN SEIKI CO., LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Financial Overview
11.4.4. SWOT Analysis
11.4.5. Key Developments
11.5. JOHNSON ELECTRIC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Financial Overview
11.5.4. SWOT Analysis
11.5.5. Key Developments
11.6. OMRON CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Financial Overview
11.6.4. SWOT Analysis
11.6.5. Key Developments
11.7. ROBERT BOSCH GMBH
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Financial Overview
11.7.4. SWOT Analysis
11.7.5. Key Developments
11.8. PANASONIC CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Financial Overview
11.8.4. SWOT Analysis
11.8.5. Key Developments
11.9. DELPHI AUTOMOTIVE PLC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Financial Overview
11.9.4. SWOT Analysis
11.9.5. Key Developments
11.10. VALEO SA
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Financial Overview
11.10.4. SWOT Analysis
11.10.5. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
12.3. RESEARCH METHODOLOGY
The List of Companies
1. Continental AG
2. Magna International Inc.
3. Denso Corporation
4. Aisin Seiki Co., Ltd.
5. Johnson Electric
6. Omron Corporation
7. Robert Bosch Gmbh
8. Panasonic Corporation
9. Delphi Automotive PLC.
10. Valeo SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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