Global Automotive Closure Market Size To Exceed USD 52.85 Billion By 2033: Forecast Analysis Report

Global Automotive Closure Market Size To Exceed USD 52.85 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Automotive Closure Market Size is Expected to Grow from USD 26.45 Billion in 2023 to USD 52.85 Billion by 2033, Growing at a CAGR of 7.17% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Automotive Closure Market Size, Share, and COVID-19 Impact Analysis, By Components (Switch, Electronic Control Unit (ECU), Latch, Motor/Actuator, Relay), By Application (Power-Window, Sunroof, Tailgate, Convertible Roof, Sliding Door), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033

The international automotive closure market refers to the business concerned with designing, manufacturing, and distributing systems that secure the openings in vehicles, such as doors, hoods, trunks, and sunroofs. These closures are essential for vehicle functionality, safety, and aesthetics, contributing to the overall driving experience. The market growth is driven by the growing demand for EVs, and ICE will expand due to the growing disposable income of consumers and their desire for cutting-edge amenities in their vehicles. Moreover, the growing popularity of the luxury and high-end class propels the market growth. However, the market growth faces several obstacles, like high upfront costs and complexity during system integration.

The latch segment held the highest share of the global automotive closure market in 2023 and is anticipated to grow at a notable CAGR over the forecast period.

On the basis of the components, the global automotive closure market is divided into switch, electronic control unit (ECU), latch, motor/actuator, and relay. Among these, the latch segment held the highest share of the global automotive closure market in 2023 and is anticipated to grow at a notable CAGR over the forecast period. This is because of to avoid accidents and discourage theft, consumer demand for safety and security features, the growing popularity of electric vehicles, along with technology advances, efficiency, and dependability.

The power window segment accounted for the largest share of the global automotive closure market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period.

On the basis of the application, the global automotive closure market is segmented into power window, sunroof, tailgate, convertible roof, and sliding door. Among these, the power window segment accounted for the largest share of the global automotive closure market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period. This is due to the growing demand for high-end and luxury cars, which are renowned for their extensive feature sets.

Asia Pacific is projected to hold the largest share of the global automotive closure market over the forecast period.

Asia Pacific is expected to hold the greatest share of the global automotive closure market over the forecast period. The regional market is propelling due to significant automakers, rising incomes, and a growing desire for safety and security measures in cars. Furthermore, innovative technologies like smart technologies and lightweight materials that improve the efficiency, dependability, and security of automobile closures are driving market expansion in this region. Further, South Korea, China, Japan, and India are the countries that contribute to the market expansion.

North America is anticipated to grow at the fastest CAGR of the global automotive closure market over the forecast period. The market expansion throughout the region is further driven by rising demand for convenience and safety features in automobiles, influenced by a large number of automakers, and high disposable incomes. Along with the growing automobile aftermarket in places like the US, Canada, and Mexico influenced the market growth. Additionally, local consumers are becoming more interested in car options that increase luxury and convenience, like tailgates, power windows, and sunroofs, all of which depend on automotive closures, which propel the market development.

Company Profiling 

Major vendors in the global automotive closure market are Aisin Seiki. Co. Ltd., Robert Bosch GmbH, Denso, Johnson Electric, Omron Corporation, Mitsuba Corporation, Magna International Inc., Panasonic Corporation, Continental AG, Delphi Automotive PLC, General Motors, Volkswagen, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In June 2024, Minda Corporation partnered with HCMF, a Taiwanese company, to form a joint venture aimed at manufacturing localized automotive sunroof and closure systems in India. This collaboration is a 50:50 partnership and focuses on leveraging advanced technology and state-of-the-art manufacturing to produce innovative solutions for passenger cars. The initiative aligns with the "Atmanirbhar Bharat" vision, emphasizing self-reliance and local production.

Market Segment                                           

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global automotive closure market based on the below-mentioned segments: 

Global Automotive Closure Market, By Components

• Switch
• Electronic Control Unit (ECU)
• Latch
• Motor/Actuator
• Relay

Global Automotive Closure Market, By Application

• Power-Window
• Sunroof
• Tailgate
• Convertible Roof
• Sliding Door

Global Automotive Closure Market, By Regional

•  North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa