Significant surge in demand of feature enabled door panels, rise in sales of passenger vehicles, and need for safety due to increase in number of road accidents drive the growth in the global automotive door panel market
PORTLAND, Oregon, March 6, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Door Panel Market by Mode of Operation (Front-hinged Door, Rear-hinged Door, Scissor Door, Gullwing Door, and Sliding door), Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report offers a detailed analysis of top investment pockets, key player positioning, market dynamics, market size & estimations, and competitive scenario. According to the report, the global automotive door panel market would reach $34.15 billion by 2025, from $24.11 billion in 2017, registering a CAGR of 4.4% from 2018 to 2025.
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Significant surge in demand of feature enabled door panels, rise in sales of passenger vehicles, and need for safety due to increase in number of road accidents drive the growth in the market. However, variations in the prices of raw materials and increase in demand for two-seater passenger cars restrict the market growth. On the other hand, development of lightweight and strong door panels and untapped potential in developing economies create new opportunities in the industry.
Front-hinged doors to maintain its leadership position by 2025
Front-hinged doors contributed for nearly three-fifths of the total share in 2017 and is expected to maintain its leadership position throughout the forecast period. This is due to increased safety and security provided during the effective closure of doors. However, the gullwing doors segment is expected to register the highest growth rate with a CAGR of 6.5% from 2018 to 2025, owing to increased ease for entry and exit of vehicles offered in tight urban parking spaces. The research also analyzes rear-hinged door, scissor door, and sliding door.
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Passenger cars to maintain its dominance in terms of revenue by 2025
Passenger cars accounted for 84.12% of the total market share in 2017 and will maintain its dominance by 2025. This is due to enhanced lifestyle of middle class families and rise in disposable income. However, the HCV segment would grow at the highest growth rate, registering a CAGR of 6.4% from 2018 to 2025, owing to surge in trade activities between the countries and rise in transportation network/activities.
Asia-Pacific to maintain its dominant share throughout the forecast period
Asia-Pacific contributed more than half of the total market share in 2017 and will maintain its dominant share throughout the forecast period. This is due to significant increase in number of sales of passenger cars and commercial vehicles in the region. However, LAMEA is expected to grow at the highest CAGR of 7.2% from 2018 to 2025, owing to expansion of automotive companies in the region with increase in demand for automobile vehicles.
Frontrunners in the industry
Key market players analyzed in the research include Grupo Antolin, Draexlmaier Group, Brose, IAC Group, HAYASHI TELEMPU CORPORATION, Kasai Kogyo, TS TECH, TOYOTA BOSHOKU CORPORATION, Reydel Automotive France SAS, and Yanfeng.
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