Demand for Advanced Automotive Door Latches Surges, Says FMI

VALLEY COTTAGE, N.Y. – When it comes to designing new-age automobile models, manufacturers are walking an extra mile to offer enhanced driving experience to customers. Driven by the risk of vehicle collisions, market players are increasing the production of automotive door latches in a bid to complement security aspects of vehicles.

With every sector riding the wave of innovation, the automotive door latch market is no new. Realizing upsurge in production of smart vehicles (or electric vehicles), manufacturers are introducing smart automotive door latches that require minimum to nil mechanical intervention.

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Owing to accelerated vehicle production in countries – China, India, and South Korea, South Asia & Pacific and East Asia offer platter of opportunities. In its latest market intelligent study, FMI computes that the global automotive door latch market is projected to progress at a modest CAGR of ~5% over forecast period (2019-2027).

Electronically-Operated Automotive Door Latch Garners Prominence

Although mechanically-operated automotive door latch hold a major share, electronically-operated automotive door latch are exhibiting accelerated growth, finds FMI. In a bid to curb environmental pollution, governments across the globe are issuing a clarion call to shift away from traditional diesel vehicles. Influenced by the environmental amendment, operators in the automotive sphere are focusing on the production of electric or hybrid vehicles.

Preview Analysis of 2019 Analysis and Review of Automotive Door Latch Market by Function – Electronic, and Mechanical for 2019 – 2027:

As electric vehicles are becoming commonplace, manufacturers are adding smart technologies, including electronically-operated automotive door latches. For instance, Kiekart Technology has launched ExcelEntry locking system that works sans mechanical and human support. The fact that electric vehicles are about to encroach the roads of a majority of countries appears to be inevitable. Consequently, market players are inflating the manufacturing of electronically-operated automotive door latches for sustained returns.

Escalating Adoption in Compact and Mid-Sized Cars

The trend of private vehicle ownership has been amplifying in developed and developing countries, including the US, China, and India. Increasing disposable income in low- and middle-income nations are boosting sales of compact and mid-sized cars, thereby propelling the market of automotive door latch. Further, with the onset of digitalization, customers are preferring purchasing vehicles e-Commerce channels.

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Construction sector in developing nations are on a rise, indicating the need for mid-sized automobiles. With infrastructure projects observing a major uplift, automotive sphere is set to flourish, which further pushes the market of automotive door latch in the near future, as per FMI.

Analysts at FMI suggest that “Passengers’ security tops the priority list of carmakers. As such, they are developing safe door-locking systems, such as door latches, for drivers. Further innovation lies in the introduction of mobile connectivity and GPS tracking solutions in prevalent iterations.”

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