Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Automotive Door Handles Market by Type, Handle Type, Vehicle Type, Sales Channel, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive door handles market, valued at US$ 4.42 billion in 2022, is poised for continued growth, with expectations to reach US$ 5.84 billion by 2028. This projected expansion reflects a Compound Annual Growth Rate (CAGR) of 5.00% during the forecast period from 2023 to 2028.
Key factors fueling this growth include increasing demand for passenger vehicles, rising investments in research and development, and technological advancements within the automotive industry.
Automotive Door Handles: Functionality Meets Aesthetics
Automotive door handles are mechanical devices used for the opening and closing of vehicle doors. Typically located on the vehicle's exterior, these handles serve both functional and aesthetic purposes. Modern automotive door handles are designed to be durable and visually appealing, often crafted from materials such as plastic, metal, carbon fiber, or aluminum. They may feature additional functionalities, including keyless entry, sensors for hands-free operation, and automatic door opening and closing.
Market Trends and Drivers
Several key trends and drivers are influencing the growth of the automotive door handles market:
- Increased Demand for Passenger Vehicles: A global rise in disposable income, urbanization, and changing lifestyles has driven an uptick in demand for passenger vehicles.
- Advanced Materials: Manufacturers are introducing lightweight door handles made of advanced materials like carbon fiber, aluminum, and magnesium, aimed at enhancing fuel efficiency and reducing emissions.
- Customization: Consumer preferences for customized vehicles have led to the availability of door handles in various colors, finishes, and designs, particularly in luxury car segments.
- Technological Advancements: The automotive industry's continual technological advancements, including electric vehicles and autonomous driving technologies, have prompted the development of compatible door handles. These may include sensors for proximity detection and automatic unlocking.
- Safety Regulations: Governments worldwide are enforcing stringent safety regulations, mandating high-quality door handles capable of withstanding impacts and preventing ejections during collisions, thus driving the demand for advanced door handles.
Market Segmentation
The global automotive door handles market is segmented based on the following criteria:
Type Insights:
- Exterior Door Handles
- Interior Door Handles
Exterior and interior door handles represent the primary segments within this category.
Handle Type Insights:
- Mechanical
- Automatic
The handle type segment includes mechanical and automatic handles, with mechanical handles currently holding the largest market share.
Vehicle Type Insights:
- Passenger Vehicles
- Commercial Vehicles
This category encompasses passenger vehicles and commercial vehicles, with passenger vehicles dominating the market.
Sales Channel Insights:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Sales channels include original equipment manufacturer (OEM) and aftermarket, with OEM accounting for the largest market share.
Regional Insights
The Asia Pacific region leads the global automotive door handles market, driven by its expanding automotive industry, surging sales of electric vehicles, and growing adoption of eco-friendly materials. North America, Europe, Latin America, and the Middle East and Africa also contribute significantly to the market.
Competitive Landscape
Key players in the global automotive door handles market include ALPHA Corporation, CI Car International Pvt. Ltd., Huf Hulsbeck & Furst GmbH & Co. KG, HUSHAN Autoparts Inc., MinebeaMitsumi Inc., Sakae Riken Kogyo Co. Ltd., Sandhar Technologies Limited, TriMark Corporation, Xin Point Corporation, and others. These companies invest in research and development, expand their facilities, and engage in collaborations to offer innovative solutions and broaden their service portfolios.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.42 Billion |
| Forecasted Market Value (USD) by 2028 | $5.84 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/bl30q3
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