According to a recent report published by Allied Market Research, titled,
“Automotive
Door Panel Market by Mode of Operation, Vehicle Type, and Distribution Channel:
Global Opportunity Analysis and Industry Forecast, 2018-2025,"
the global automotive door panel market was valued at USD 24,115.1 million in
2017, and is projected to reach at USD 34,158.6 million by 2025, growing at a
CAGR of 4.4% from 2018 to 2025.
At present, Asia-Pacific dominates the market, followed by Europe,
North America, and LAMEA. China dominated the Asia-Pacific market in 2017 and
Germany led the overall market in Europe. However, in North America, the U.S.
currently dominates the market.
New passenger vehicle registrations increased in Europe, Russia,
Japan, Brazil, India, and China, though it was sharply down in the U.S. In July
2017, the U.S. was the only major car market in the world with light vehicle
sales down by 7%. The Indian and Russian car markets expanded rapidly with
double-digit growth, while the recovery in Brazil continued but at a more
moderate pace. New passenger vehicles registrations in Japan increased for the
ninth consecutive month. Moreover, in Europe and China car sales was stronger,
however, the UK recorded the fourth consecutive month of weaker car sales.
Thus, the overall increase in registration of passenger vehicles drives the
growth of the automotive door panel market.
In addition, although luxury vehicles are more expensive than
conventional vehicles, luxury vehicles are an obligatory status symbol for
well-to-do individuals. Around 28,500 of luxury vehicles were sold in 2016.
Around 15.9% rise was recorded in the sale of luxury vehicles from 2015 to
2016. Furthermore, the demand for luxury vehicles was particularly fueled by
China, owing to improved standard of living and rise in disposable income of
the population.
Thus, all these factors together are boosting the demand for the
automotive door panel market. In addition, the number of road accidents and
mishaps is increasing at a higher rate. As being the cheapest way of
transportation there is considerable rise in the number of operating vehicles
on roads, which is the major factor for increase in road accident. It has been
seen in the recent past that large share of road accidents is from developing
countries such as India, China, Indonesia and Brazil among others.
Rise in road accidents drives various car manufacturers to install
different active and passive safety systems and thereby prevent road mishaps.
Thus, car manufacturers are required to provide smart and crashworthy vehicles
to curb the fatality on roads in developing countries where automobile safety
regulations are more lenient than those in developed countries.
Moreover, it has been noticed that 80% road traffic accidents occur in
middle income countries such as Russia, Mexico, China, Thailand and India among
others, which comprises 72% of population however only 52% registered vehicles.
Thus, rise in number of road accidents create additional demand for the
replacement of the door panels of the vehicles involved in accidents. This, in
turn drives the global automotive door panel market.
In addition, fluctuation in prices of the raw materials, rise in
demand for two seater passenger cars impede the stated growth. Moreover,
untapped developing markets in Africa & Asia, and development of strong and
lightweight door panels is expected to create numerous opportunities for the
key players operating in the global automotive door panel market.
Key Findings Of The Study
The passenger car segment generated the highest revenue in the global
automotive door panel market in 2017. In 2017, front-hinged doors segment was
the highest revenue contributor in the mode of operation segment. LAMEA is
anticipated to exhibit the highest CAGR during the forecast period. In
2017, Asia-Pacific contributed the highest market share, followed by Europe,
North America, and LAMEA.
The key players profiled in
the report include Grupo Antolin, Brose, Draexlmaier Group, HAYASHI TELEMPU
CORPORATION, IAC Group, TS TECH, Kasai Kogyo, Reydel Automotive France SAS,
TOYOTA BOSHOKU CORPORATION, and Yanfeng.
For more information on the research report, refer to below
link:-
Contact Us:-
Ken Research
Ankur Gupta,
Head Marketing & Communications
+91-9015378249
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