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(I-AutoNewsWire.com, December 18, 2019 ) Market Overview
Automotive door panels are components which allow the passengers to enter and exit a vehicle. The major role played by an automotive door panel is securing the passengers of the vehicle from the cars surroundings.
Door panels are different from each and every vehicle and also play an important role in improving the aesthetics of the vehicle. Automotive door panels are typically made up of steel, aluminum, and plastic composites.
The Global Automotive Door Panel Market is expected to grow at a CAGR of 4.3 % during the forecast period (2019-2026).
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Automotive Door Panel Market, Rising global automotive sales owing to the growth in disposable incomes of the middle-class population, the rise in the number of four-wheelers accidents and stringent emission norms which are propelling manufacturers to adapt to lightweight materials are the major factors boosting the global automotive door panel market.
Rising global automotive sales is a primary driver attributing to the growing demand for automotive door panel products.
Automotive Door Panel Market, According to the Association of Motor Vehicles Manufacturers (OICA), 96.8 million vehicles were sold globally in 2017 compared to 93.9 million and 89.7 million in 2016 and 2015 witnessing a growth rate of 3.08% in 2017 and 4.6% in 2016 respectively.
Owing to these reasons, rising global automotive sales is a primary driving factor propelling the growth of the Global Automotive Door Panel Market.
Automotive Door Panel Market, high costs of research and development of enhanced engineered materials, fluctuations in raw material prices and stringent regulations of materials used in automotive door panels are some of the crucial factors responsible for impeding the growth of the global automotive door panel market.
The Global Automotive Door Panel Market has been segmented by type, material, type of vehicle and geography.
Based on the type of vehicle, the market is segmented as passenger vehicles and commercial vehicles. The passenger vehicles segment is the dominant segment of the global automotive door panel market owing to the rapidly increasing sales of passenger vehicles compared to commercial vehicles.
According to the Association of Motor Vehicles Manufacturers (OICA), 70.84 million passenger vehicles were sold globally in 2017 compared to 69.50 million and 66.32 million in 2016 and 2015 witnessing a growth rate of 1.9% in 2017 and 4.8% in 2016 respectively.
The increasing growth of sales of the global passenger vehicles is anticipated to propel the demand for automotive door panels.
Based on the type, the market is segmented as front-hinged doors, rear-hinged doors, scissor doors, gullwing doors, and sliding doors.
The front hinged doors are the dominant segment by overall market share, followed closely by rear-hinged doors, owing to their increased use in passenger vehicles and commercial vehicles. Front hinged and rear-hinged doors are easy to operate and incur low maintenance costs.
These are the most commonly used door types in more than 90% of the vehicles observed and offer utmost safety to the passengers.
The Global Automotive Door Panel Market is segmented into North America, Europe, Asia Pacific, South America and the Middle East and Africa.
Automotive Door Panel Market, The Asia Pacific region is further segmented into countries such as India, Japan, South Korea, China, Australia, and others. The Asia Pacific is the dominant geographical segment in the automotive door panel market owing to the rising automobile sales in China, India, and Japan.
Automotive Door Panel Market, According to the International Organization of motor vehicles manufacturers (OICA), out of the 96.8 million vehicles sold globally, more than 48 million cars were sold in the Asia Pacific region with China alone accounting for more than 29 million car sales followed by 5.2 million in Japan and 4 million in India.
Owing to these reasons, the Asia Pacific region is anticipated to dominate the Global automotive door panel market in the future.
New product launches and expansion of facilities are some of the vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in March 2018, International Automotive Components (IAC), a global automotive and mobility provider in a lightweight and new-material interior solutions, officially opened its state-of-the-art plant for premium door panels in Practice, Czech Republic
The new location will be the companys third operation in Practice and will add 800 more skilled jobs to the 1,300 already employed by IAC in the area.
Scope of the Report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The Global Automotive Door Panel Market is segmented based on the type as front-hinged doors, rear-hinged doors, scissor doors, gullwing doors, and sliding doors.
Based on the material, the market is segmented as steel, aluminum, and plastic composites. Based on the vehicle, the market is segmented as passenger vehicles and commercial vehicles.
Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and the Middle East and Africa.
The report profiles the following companies Aisin Seiki Co, Faurecia SA, Brose Fahrzeugteile GmbH, KG Dura, Grupo Antolin, Draexlmaier Group, Yanfeng, International Automotive Components LLC and Samvardhana Motherson Reydel Companies (SMRC).
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