PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300828
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300828
Global Car Door Latch Market is valued approximately at USD 6.97 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.80% over the forecast period 2023-2030. A car door latch is a mechanism that secures a vehicle's door in a closed position using a metal hook or lever. It engages with a striker plate on the car's body to keep the door securely shut. It can be opened manually from inside or outside the car using handles or buttons. The Car Door Latch market is expanding because of factors such as increasing demand for automobiles and growing number of electric vehicles. The latch mechanism engages with a striker plate on the car's body, preventing the doors from opening unintentionally. It is designed to withstand various forces, including vibrations and impacts, to maintain the integrity of the door closure. Additionally, the latch may incorporate locking mechanisms that allow for manual or electronic locking and unlocking of the doors for added security. Its importance has progressively increased during the last few decades.
According to the Statista, Worldwide car sales grew to around 67.2 million automobiles in 2022, up from around 66.7 million units in 2021. Throughout. Furthermore, in 2022, the ranking of the world's largest car brands was topped by Toyota with a market share of around 11.5%. Another important component driving the market growth is increase in the number of electric vehicles. As per Statista, it is expected that there will be 77 million passenger vehicles in the global electric vehicle fleet by 2025, up from an estimated 20 million units as of mid-year 2022. That year, global electric passenger vehicles represented around 1.5% of the global fleet. In addition, in 2021, China's plug-in electric vehicle fleet reached around 14.1 million units. The second-ranked United States had approximately 2.96 million battery-electric vehicles and plug-in hybrid electric vehicles in use that same year. Also, rapid Urbanization and rising technological advancement in Car Door Latch would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Car Door Latch stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Car Door Latch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific dominated the market in 2022 owing to the increasing presence of major manufacturers in the automotive industry. According to the Statista, China was the largest commercial vehicle market in 2022, with over 3.3 million commercial cars sold. In 2022, roughly 753 thousand commercial cars were sold in Japan. And, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising number of vehicle registrations in countries such as India and China in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable