Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Automotive Door Panel Market market.
Trusted Business Insights presents an updated and Latest Study on Automotive Door Panel Market Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Automotive Door Panel Market market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Global automotive door panel market was valued at US$ X.X Mn in 2018 and is projected to be valued at US$ X.X Mn by end of 2028. The global automotive door panel market has been divided on the basis of mode of operation, vehicle type, distribution channel, and region/ country.
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Automotive Door Panel: Product Overview
Automotive door panel is a component which allows the passengers to enter or exit vehicle. In addition, the basic function of door panels is to protect the driver and passengers seated inside vehicle. The panels are made up of aluminum, steel, or mixed materials. It offers an attractive & stylish look, comfort, and soft touch surface to vehicles.
Market Growth Factors
Door panels offer ergonomic comfort, reliable protection, convenience as well as play an important role in improving the esthetics of the automobile. In addition, growing production and sales vehicles, and rising need for safety due to increasing number of road accidents are some of the factors expected to drive growth of the global automotive door panel market. Furthermore, increasing development activities related to manufacturing lightweight products and strong door panels are expected to create new opportunities for companies in the global industry.
Governments in developing countries such as India and Indonesia, among others, are focusing on boosting growth of the industrial sector, especially the automotive industry, by encouraging FDI and offering various subsidies. In addition, countries, especially in Asia Pacific region, are lucrative manufacturing hubs due to availability of low-cost labor and raw materials. Car manufacturers are currently focusing on expanding existing manufacturing plants and facilities and setting-up new car manufacturing plants in countries in the region. The above-mentioned factors are expected to drive growth of the Asia Pacific automotive brake systems to a significant extent, thereby contributing to growth of the global market over the forecast period. In July 2018 for instance, Maruti Suzuki India Limited, announced plans to expand its manufacturing capacity to 0.75 million units at its Gujarat plant by 2020.
However, volatile prices of raw materials and increasing demand for passenger cars with two seats may hamper growth of the target market.
The latest trend observed in the target market is that the government and regulatory bodies are compelling manufacturers to focus on manufacturing light-weighting components to reduce emissions and improve fuel efficiency. Plastic is a lightweight material and is highly used in producing door panels of luxury vehicles. This material helps to reduce the overall weight of the vehicle and also provides structural rigidity and stability. The global auto sector is adopting green technology, thus demand for lightweight door panels is projected to increase in the near future, and fuel market growth.
By Mode of Operation:
Among the mode of operation segments, the front-hinged doors segment is anticipated to account for major revenue contribution in the global market.
By Vehicle Type:
Among the vehicle type segments, the passenger car segment is projected to register significant growth rate over the 10-year forecast period.
By Distribution Channel:
Among the distribution channel segments, the OEM segment is estimated to account for considerable revenue share in the global market.
The Asia Pacific market is projected to account for a notable share in terms of revenue in the global market. This can be attributed to the increasing number of vehicle registrations, presence of key manufacturers, along with low manufacturing costs for exporting parts and vehicles in countries such as China and India.
North America market is anticipated to record significant share in terms of value in the global market. Increasing sales of commercial vehicles and passenger cars in the US and Canada, strong presence of large number of companies are factors fueling growth of the target market. The markets in the MEA and Latin America are estimated to account for moderate revenue shares in the global automotive door panel market.
Global Automotive Door Panel Market Segmentation:
Segmentation by Mode of Operation:
Segmentation by Vehicle Type:
Segmentation by Distribution Channel:
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