Automotive Closure Market is predicted to grow at approximately 7% CAGR by 2023

Pune, India, April 02, 2018 /MRFR Press Release/- Market research future published a half cooked research report on global automotive closure market. The automotive closure market is expected to grow over the CAGR of around 7% during the period 2017 to 2023.

Market Highlights

The global industry has come a long way since its inception more than 100 years ago. The automobiles of earlier times were focused more on the core functionality aspect. This involved paying attention to the core specifications and engine performance. With technological innovations, rapid changes were achieved in terms of engine capabilities and overall vehicle efficiency. The engine of the automobile was manufactured to fine the tuned output and reduce the waste (by-products) produced. This caused overall engine efficiency to improve drastically. The last few decades have seen tremendous improvements in the overall vehicle performance, along with aesthetics of the automobile as well. The next biggest breakthrough in vehicle design came around the time when the overall vehicle drag was focused upon. Vehicle drag involves high speed and pressure winds, which collide with the automobile. This drag that is exerted on the vehicle keeps on increasing as the speed of automobile increases. This drag/thrust causes the vehicle to slow down. This, in turn, leads to loss of engine power and ultimate efficiency. This study of minimizing the automotive wind drag/thrust exerted upon the automobile is called aerodynamics.

The consideration of aerodynamics during vehicle exterior body design forms an integral part of the job of the design team. Automobile manufactures try to design an automobile as aerodynamically inclined as possible. In this context, the aerodynamic design of an automobile can only take place in an appropriate manner if the design of closures and doors is taken into consideration. Thus, the design of closure and doors forms an integral part of designing a stable vehicle. This consecutively makes sure that the power-to-weight ratio of the automobile is at an optimum level, thus, increasing the overall efficiency of the automobile performance. 

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (the U.S. and Canada, in particular) is one of the largest automobile markets in the world. The biggest concern of the consumers in this market is the low reliance on public transport system. People in this region prefer to travel using their personal vehicles, for both work and leisure traveling. The Asia Pacific region has two of the world’s biggest economies – India and China. These two countries are considered to be the future automotive hub of the world. The Europe region is known for its penchant for high-performance cars with the latest technological features. All these factors cumulatively highlight the growth opportunity for the automotive closure market on the global scale.

Access Report Details @ https://www.marketresearchfuture.com/reports/automotive-closure-market-5775

Drivers:

Global Automotive Closure Market Size, 2017-2023(CAGR):

Scope of the Report

This study provides an overview of the Global Automotive Closure Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Automotive Closure Market by its Application, Component, Type, Vehicle Type and Region.

• By Application


• Sunroof


• Power Window


• Side Door


• Sliding Door


• Convertible Roof


• By Component


• ECU


• Switch


• Motor & Actuator


• Latch


• Relay


• By Type


• Manual


• Powered


• By Vehicle Types


• Passenger Vehicle


• Commercial Vehicle


• By Region


• North America


• Europe


• Asia Pacific


• Rest of the World

Key Players

The key players in automotive closure market are Toyota Motor Corporation (Japan), Magna International Inc. (Canada), Honda Motor Company, Ltd. (Japan), Continental AG (Germany), Aisin Seiki. Co. Ltd (Japan), BMW (Germany), Robert Bosch GmbH (Germany), Daimler AG (Germany), and The Ford Motor Company (U.S.).