Automotive Speed Sensing Door Lock System Market - Overview
Automotive speed sensing door lock system locks the door of the vehicle when it exceeds a particular speed. The speed sensing door locks enhance the safety feature of the vehicle and avoid unwanted accidents on the road due to accidental opening of the doors of the vehicle, while in motion.
Automotive Speed Sensing Door Lock System Market- Drivers and Restraints
The global market for automotive speed sensing door locks is expected to expand at a significant growth rate during the forecast period due to rising demand for safety features in vehicles. Rising concern for safety is likely to propel the market for the vehicles equipped with maximum safety features. The speed sensing door lock system is usually integrated with the feature of locking the vehicles on removing the key from the ignition of the vehicle that adds up into its security feature to avoid the circumstances of theft. The speed lock sensing system is already available in most vehicles present in the market; however, increasing production of vehicles and rising integration of this system in commercial vehicles are likely to propel the automotive speed sensing door lock system market. The market is likely to expand during the forecast period, as it is a cost-effective safety feature.
Automotive Speed Sensing Door Lock System Market - Segmentation
The global automotive speed sensing door lock system market can be segmented based on vehicle, sales channel, and region. In terms of vehicle, the passenger vehicle segment is likely to hold a prominent share of the market owing to the high production and even higher demand for safety features in passenger vehicles. However, the light commercial vehicle segment is anticipated to be a highly lucrative segment during the forecast period, owing to significantly rising penetration of speed sensing door locks among light commercial vehicles.
In terms of sales channel, the OEM (Original Equipment Manufacturer) segment is anticipated to dominate the automotive speed sensing door lock system market. The OEM segment is likely to be a major segment and is likely to expand significantly during the forecast period, as the automotive speed sensing door locks are mostly integrated in most vehicles. However, the aftermarket segment is expanding due to replacement of the OBD and sensor integrated within the automotive speed sensing door locks system.
In terms of region, Asia Pacific is likely to dominate the global automotive speed sensing door lock system market owing to the presence of all major manufacturers in the region. Asia Pacific is a significant production base or hub for automotive and is a highly lucrative market for future technologies such as electric vehicles. In Asia Pacific, China and South Korea are leading manufacturers of small electronic components, such as OBD module and speed sensors. China is likely to be a key market for electric vehicles during the forecast period and integration of the system in electric vehicles is projected to boost the automotive speed sensing door lock system market at remarkable pace in the near future.
Automotive Speed Sensing Door Lock System Market - Key Players
Key manufacturers operating in the global automotive speed sensing door lock system market are OBD Innovations, Continental AG, CUMSA Corporation, and cebi.
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