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Increasing Focus Toward Safety, Security, & Hands-Free Operation to Drive the Automotive Closure Market

Currently, an E-latch is the demand of all the premium vehicle manufacturers and drivers worldwide. An E-Latch eliminates all the hardware functions from the conventional door system which reduces cost and weight while improving safety. Also, the growing demand for highly safe & secure automotive closure systems and the increasing production of automobiles would boost the growth of the latches segment in the automotive closure market in the near future.

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Increasing Focus Toward Safety, Security, & Hands-Free Operation to Drive the Automotive Closure Market

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  1. Increasing Focus Toward Safety, Security, & Hands-Free Operation to Drive the Automotive Closure Market The report "Automotive Closure Market for EV & ICE by Application (Power- Window, Sunroof, Tailgate, Convertible Roof, Sliding Door, and Side Door), Component (Switch, ECU, Latch, Motor/Actuator, Relay), Type (Manual and Powered), and Region - Global Forecast to 2022", The automotive closure market is projected to grow at a CAGR of 7.75% during the forecast period, and the market size is expected to grow from USD 17.43 Billion in 2017 to USD 25.31 Billion by 2022. The key factors driving the growth of theautomotive closure market is increasing luxury features in a vehicle, increasing complexity of manual operations, and growing use of lightweight materials in powered applications impacting the fuel economy of vehicles. Browse 108 Market Data Tables and 45 Figures spread through 206 Pages and in-depth TOC on "Automotive Closure Market for EV & ICE by Application (Power- Window, Sunroof, Tailgate, Convertible Roof, Sliding Door, and Side Door), Component (Switch, ECU, Latch, Motor/Actuator, Relay), Type (Manual and Powered), and Region - Global Forecast to 2022" https://www.marketsandmarkets.com/Market-Reports/automotive-powered-gate-market-218934682.html Early buyers will receive 10% customization on reports. Hybrid Electric Vehicle (HEV) segment is estimated to hold the largest share of the automotive closure market for electric vehicles. The HEV segment is estimated to hold the largest market size in the automotive closure market in 2017. The dependence on gasoline and diesel engines as the primary automobile powertrain technology has raised many environmental concerns such as global warming. In response to the concern and increasing demand for eco-friendly and fuel-efficient technologies, OEMs such as Toyota Motor Corporation (Japan) with its Camry and Prius brand, Ford Motor Company (U.S.) with its Fusion brand, and Honda Motor Co., Ltd. (Japan) with its Civic brand, are developing hybrid technologies to cater to these needs. Automakers are seeing hybrid vehicles to be the gateway to fully electric vehicles. Similarly, government tax incentives and state rebates have boosted the proliferation of HEVs. This would also drive the demand for HEVs. Majority of HEVs are employed with power windows and power tailgate, hence driving the demand for the automotive closure applications in the near future in the HEV segment. Latch is estimated to be the fastest growing component segment in the automotive closure market. The latch segment is projected to grow at the fastest growth rate during the forecast period from 2017 to 2022. The Europe region is estimated to witness a high growth in latch production. New technologies such as hands-free opening doors, LED latches, and collision avoidance closure system had increased the production demand of technically advanced latches in automotive closure applications. Currently, an E-latch is the demand of all the premium vehicle manufacturers and drivers worldwide. An E-Latch eliminates all the hardware functions from the conventional door system which reduces cost and weight while improving safety. Also, the growing demand for highly safe & secure automotive closure systems and the increasing production of automobiles would boost the growth of the latches segment in the automotive closure market in the near future. Get a sample copy of report Asia Oceania region is estimated to be the leading market for automotive closures

  2. Asia Oceania is the leading the automotive closure market as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. The automobile industry is flourishing continuously, especially in South Asia. China’s initiative to reduce sales tax for passenger vehicles is expected to expand the overall volume of vehicle production by 15%–16% in 2016. India is also expected to be the fastest growing market due to the increasing disposable income of people. Increased sales of premium cars would influence the automotive closure market. For Instance, premium car sales are increased by 14% from 2015 to 2016 in China. Also, the demand for increased electronic components in vehicles helps to increase the trend of automotive power closures over manual closures. The key automotive closure manufacturers profiled in the report include Continental AG (Germany), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), and Aisin Seiki. Co. Ltd (Japan). These systems and technologies are supplied to automotive OEMs such as Volkswagen AG (Germany), General Motors (U.S.), Toyota Motor Corporation (Japan), and others. Speak to our analyst About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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