USD 25.42 billion
Automotive Closure Market Size, Share, Growth Analysis, By Application(Power-Window, Sunroof, Tailgate, Convertible Roof), By Component(Switch, ECU, Latch, Motor and Relay), By Type(Manual and Powered), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2126 |
Region:
Global |
Published Date: April, 2024
Pages:
218
|Tables:
91
|Figures:
73
Automotive Closure Market Insights
Global Automotive Closure Market size was valued at USD 25.42 billion in 2022, USD 25.31 billion in 2023 and is projected to grow USD 45.04 billion by 2031, growing at a CAGR of 7.41% in the forecast period (2024-2031).
Automotive closures are essential parts of cars as they make handling and access easier. These closures have a significant impact on overall aerodynamics, which makes them significant in automotive design. Automotive closures include a wide range of components, such as windows, fuel doors, sunroofs, sliding doors, rear doors, and bonnets. The car industry's continuous research and development efforts have resulted in the electrical operation of these closures, which were previously manually operated. Automobile manufacturers aggressively seek out ways to reduce weight in order to improve fuel economy and lower carbon emissions. In the movement towards lighter cars, aluminum is used to reduce weight by integrating electronics and creating automotive closures.
The expansion of the automotive closure market for internal combustion engine (ICE) and electric vehicle (EV) vehicles is anticipated to be fueled by the increased consumer demand for luxury and comfort amenities in vehicles as well as the introduction of biometric vehicle access systems. The most intricate and important components of a car are its doors and closures, which must meet numerous engineering-related specifications. The automotive closure industry has been pushed by the increase in consumer demand for comfort and luxury in automobiles. The market for automotive closure is expected to develop as a result of the introduction of biometric vehicle access systems. Moreover, the market's expansion is facilitated by the widespread use of driverless vehicles.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Power window
Fastest Growth
Sunroof
Growth Rate
7.41% CAGR
Global Automotive Closure Market ($ Bn)
Country Share by Asia Pacific (%)
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Automotive Closure Market Segmental Analysis
The global automotive closure market is segmented based on application, component, type and regional type. In terms of application, the market is segmented into power-window, sunroof, tailgate, convertible roof, sliding door and side door. Based on component, the market is grouped into switch, ECU, latch, motor and relay. In terms of type, the market is divided into manual and powered. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. .
Analysis by Application
As per categorization by application, the market is classified into power-window, sunroof, tailgate, convertible roof, sliding door and side door. Among these, power window earned the largest share and continue to dominate the market. The incorporation of cutting-edge technologies targeted at improving user comfort and safety is a major driving force behind innovation in power windows in the global automotive closure market. Smart electronics that enable programmable settings, obstruction sensors, and remote operating features are being incorporated by manufacturers. The growing market for mid-range and luxury cars with high levels of convenience features is a major driver of this trend. Furthermore, lighter materials are being used in power window systems as a result of efforts to reduce vehicle weight in order to comply with strict emission rules.
Sunroofs, tailgates, convertible roofs, and sliding doors are the automotive enclosures with the quickest growth in the global market due to consumer preferences for vehicles with improved air circulation, more natural light, and an improved aesthetic appeal. This tendency is supported by the rising demand for SUVs and luxury cars, which often have similar features. Innovations in technology, such retractable and panoramic roofs, also help to grow the market. Further boosting demand in this market is the growth of electric and driverless vehicles, which frequently use sophisticated closures for better performance and efficiency.
Analysis by Type
Automation and user convenience are major factors in the evolution of powered closures. Touch-free functionality and improved safety measures, such automated locking systems and sophisticated sensors to stop unintentional closures, are examples of current advances. Use is growing, especially in mid-range and high-end cars where customers' demands for luxury and features propel acceptance. The use of IoT technology facilitates remote monitoring and control, in line with the current trends of connectedness and intelligent automotive systems.
Due to their dependability and affordability, manual closures are expected to increase at a high rate in the global automotive closure market. This is especially true in emerging economies and for low-cost vehicle categories. Customers that value longevity and reduced maintenance expenses will find these closures easier to maintain and less prone to mechanical failures than their powered equivalents. Furthermore, the need for manual closure systems is anticipated to rise as international automakers strive to create more reasonably priced cars, particularly in price-sensitive areas, propelling their expansion in the worldwide market.
Global Automotive Closure Market By Application (%)
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Automotive Closure Market Regional Insights
Asia-Pacific holds the largest share of the global automotive closure market and is anticipated to experience growth over the forecast period. This is due to there are significant automakers in the area. The need for automotive closures is driven by the region's expanding automotive sector, which is driven by factors such as rising income, economic expansion, and the growing need for safety and security measures in cars. Growth is expected in North America over the course of the predicted period. One of the main factors propelling the growth of the automotive closures market in the area is the growing demand for convenience and safety features in cars. Due to a number of important characteristics, the automobile sector in North America is among the biggest and most well-established in the world.
Due in large part to strict safety and emission laws driving developments in automobile technologies, Europe now leads the world in terms of innovation and acceptance in the global automotive closure market. But the regions with the quickest rates of growth are turning out to be Latin America and the Middle East and Africa. increased consumer demand for more advanced car features in these areas, growing automotive manufacturing capabilities, and increased vehicle sales are the main drivers of this rise. Global automakers are making large investments in these countries in an attempt to capitalise on their rapidly expanding markets, and both are rapidly catching up.
Global Automotive Closure Market By Geography
- Largest
- Fastest
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Automotive Closure Market Dynamics
Drivers
Growth in Demand for Comfort Features
- The market for automotive closures is expanding as a result of rising car production and rising consumer demand. Passenger automobiles are expected to hold the largest share among the various market segments. The growing demand for innovative features in cars and consumers' increasing disposable income will propel the expansion of the automotive closure market for both ICE and EVs.
Production Shifts in EVs and PHEVs
- Reduced production costs, lax pollution and safety regulations, among other factors, have made the area a manufacturing hotspot. Since the demand for automobile closure is closely correlated with vehicle production, numerous European and American automakers have relocated their manufacturing facilities to developing nations in Asia-Oceania. Furthermore, it is anticipated that the market for automotive closure would rise with plug-in hybrid vehicles (PHEVS).
Restraints
Complexity Associated with Electronic System Component
- Growth in the industry is anticipated to be hampered by electronic systems' increasing complexity. Various electronic systems, including sensors, actuators, and controllers, are present in contemporary automotive closures. The cost of these systems is rising due to their increased complexity. High-end electronic components, like semiconductors and sensors, are frequently utilised in automotive closures.
Safety Standards and Component Shortages
- Automotive closures' electronic systems also need to adhere to strict safety regulations. As manufacturers have to spend money on testing and certification, this raises their price. The market's expansion is further hampered by the limited supply of electronic components. For example, the global shortage of semiconductors led to an increase in the cost of electronic components. This adds to the high cost of electronic system components in the automobile closing industry.
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Automotive Closure Market Competitive Landscape
Including both specialised closure manufacturers and well-known automotive corporations. Prominent global firms Magna International, Continental AG, and Robert Bosch GmbH are well-known for their inventiveness in creating cutting-edge closing systems. To increase their market share, these businesses are fiercely fighting with one another through strategic alliances, technological breakthroughs, and international expansions. Their work will have a significant impact on the industry's future norms and trends.
Top Player’s Company Profiles
- Johnson Electric (Hong Kong)
- Honda Motor Company, Ltd. (Japan)
- Mitsuba Corporation (Japan)
- Delphi Automotive PLC (UK)
- Continental AG (Germany)
- BMW (Germany)
- Robert Bosch GmbH (Germany)
- Aisin Seiki Co. Ltd. (Japan)
- The Ford Motor Company (U.S.)
- Magna International Inc. (Canada)
- Denso (Japan)
- Daimler AG (Germany)
- Magna International Inc. (Canada)
- Aisin Seiki. Co. Ltd (Japan)
- Toyota Motor Corporation (Japan)
- Omron Corporation (Japan)
- Panasonic Corporation (Japan)
Recent Developments
- In March 2024, To improve vehicle efficiency and safety, Continental AG announced the release of its next-generation automated closure systems. This innovation incorporates cutting-edge sensor technology to enhance power closing responsiveness and incorporates artificial intelligence to forecast user behavior for more seamless operation. Business has made it clear that by maximizing aerodynamics when the vehicle is in motion, this innovation will not only enhance the driving experience but also increase the overall energy efficiency of automobiles.
- In September 2023, "Everycool," a cutting-edge cooling system from DENSO CORPORATION, was unveiled with the goal of improving energy economy and driver comfort in commercial vehicles while the engine is off. During engine stoppage, the recently designed "Everycool" system effectively cools truck cabins, increasing driver comfort and lessening environmental effect. The emphasis on comfort and energy efficiency—achieved by cutting power use by approximately 57%—are among the standout characteristics.
- In January 2022, In order to maximize the potential of connected intelligent systems, bolster its capabilities in software-defined mobility, and facilitate cutting-edge smart vehicle architecture changes, Aptiv PLC entered into a definitive agreement to acquire Wind River Systems, Inc., a global leader in delivering software for the intelligent edge. In order to create a software toolchain for numerous automotive applications, the Company and Wind River entered a strategic collaboration agreement earlier in 2021.
Automotive Closure Key Market Trends
- Innovation and Unique Features in Automotive Closure Market: Businesses use a variety of tactics to maintain their market share. These tactics are essential for building a brand's recognition and attracting new customers. Differentiation is one of the main strategies, where businesses emphasize special characteristics or cutting-edge technology in their products. To set themselves apart from competitors, some companies prioritize supplying closures with cutting-edge security features, intelligent automation, or environmentally friendly materials. These initiatives are meant to address changing consumer expectations.
- Specialization Strategies in Niche Market: Businesses frequently employ a niche strategy, focusing on particular market niches for automotive closures. They focus on serving a specific clientele rather than trying to please everyone. One company might, for example, specialize in manufacturing high-end closures for luxury cars, emphasizing exquisite design, premium materials, and precise engineering. By taking a focused strategy, they are able to become experts in a certain area, catering to specific demands and building a solid foundation inside that niche market.
Automotive Closure Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the market for automotive closures is expanding as a result of rising customer demand for comfort features, increased automobile production, and production relocation to Asia-Oceania. The developing market for plug-in hybrid vehicles is also expected to contribute to this growth. The intricate and costly nature of electronic components, in conjunction with strict safety regulations and worldwide scarcities, pose formidable obstacles to the expansion of the automobile closing sector. The future of the industry is being greatly shaped by notable businesses such as Magna International, Continental AG, and Robert Bosch GmbH, who are leading the way in automotive closure innovation and competition through technological developments, international expansions, and strategic alliances. In order to meet changing customer expectations and create a strong presence, companies in the automotive closure market use tactics including differentiation and niche specialization. These strategies center on distinctive features, state-of-the-art technology, and targeted market segments.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 25.42 billion |
| Market size value in 2031 | USD 45.04 billion |
| Growth Rate | 7.41% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Closure Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Closure Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Closure Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Closure Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Closure Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Closure Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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