Automotive Door Handles Market: Introduction
- An automotive door handle is a lever or latch designed to open or close the vehicle door. It is mounted on both interior and exterior of the vehicle’s door.
Key Drivers of Automotive Door Handles Market
- As per the statistics of International Monetary Fund, per capita GDP has increased from US$ 9.65 thousand in 2010 to US$ 10.95 thousand in 2020. Increasing per capita income of people worldwide has boosted their purchasing power, thereby driving the sale of automobiles. Rise in sales of vehicles is fueling the demand for automotive door handles from OEMs. Door handles are extensively utilized component in the vehicle. Moreover, they are exposed to harsh environment, which makes them highly prone to wear & tear, thus, increasing their demand in aftermarket segment. Hence, the rise in sale of vehicles is propelling the automotive door handles market across the globe.
- Door handles also add to the esthetics of the vehicle and aerodynamics besides enabling users to open and close doors to access the vehicle. Conventional protruding type of automotive door handles had a displeasing effect on the vehicle appearance, and it also increased the drag force. Esthetics of the vehicle is a major factor considered by consumers during purchase of vehicles and manufacturers of door handles are focusing on the development of newer offerings that enhance the appeal of the vehicle and improve aerodynamics. Lift back and pull type door handles are fitted in such a way that they align with the surface of the vehicle doors and hence, provide better aerodynamics and appearance to the vehicle. Some luxury car manufacturers such as Tesla have installed door handles that reside inside the doors of vehicle and pop-out when required. This increasing focus of companies on design and aesthetics is driving the global automotive door handles market.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Automotive Door Handles Market: Restraint
- Upcoming technologies such as remote operated or automatic opening doors in premium/luxury vehicles are hampering the global automotive door handles market
Impact of COVID-19 pandemic on Automotive Door Handles Market
- The production and sales of vehicles have declined amidst the COVID-19 pandemic and consequently, the demand for automotive door handles has also declined worldwide. However, governments are easing restrictions and companies are restarting their operations with precautionary measures, which is estimated to fuel the automotive door handles market globally.
Opportunity in Global Automotive Door Handles Market
- Market players are integrating smart technologies in their product offerings to provide vehicle owners with hassle-free operation and provide more premium experience. For instance, Huf Hülsbeck & Fürst GmbH & Co. KG has developed passive entry door handles that are installed with advanced electronics to provide keyless entry and also features innovative lighting, which offers the vehicle a more premium feel. Incorporation of novel technologies in conventional products is likely to offer significant opportunities to companies operating in the automotive door handles market across the globe.
Asia Pacific holds Significant Share of Global Automotive Door Handles Market
- Rise in vehicle production in countries of Asia Pacific, such as China, Japan, India, and South Korea, is fueling the demand for door handles. Furthermore, growing industrialization in the region has boosted the number of vehicle door handle manufacturers and their production capacity.
Key Players Operating in Automotive Door Handles Market
The global automotive door handles market is highly concentrated due to the presence of top manufacturers. A few key players operating in the automotive door handles market are:
- ADAC Automotive
- AISIN SEIKI Co., Ltd.
- ALPHA Corporation
- CI CAR INTERNATIONAL PVT. LTD.
- Dorman Products
- Guangzhou Yishan Auto Parts Trade Co.
- Huf Hülsbeck & Fürst GmbH & Co. KG
- Magna International Inc.
- Quadratec, Inc.
- Sanatan Autoplast Private Limited.
- Spark Minda
- U-Shin Ltd.
- VALEO SERVICE
- WITTE Automotive
For Right Perspective & Competitive Insights on Automotive Door Handles Market, Request for a Sample
Global Automotive Door Handles Market: Research Scope
Global Automotive Door Handles Market, by Material
- Stainless Steel
Global Automotive Door Handles Market, by Type
Global Automotive Door Handles Market, by Location
Global Automotive Door Handles Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Door Handles Market, by Sales Channel
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.