The global vehicle exterior door handle market revenue was around US$ 5.8 billion in 2022 and is estimated to reach US$ 9.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2032.
A vehicle exterior door handle is placed on the outside of the door of a vehicle to deliver access to the vehicle. Vehicle exterior door handles are created utilizing materials like plastic, metal, or a combination of materials. Modern exterior door handles may include developed technologies like touch-sensitive surfaces or electronic sensors, for improved functionality and aesthetics.
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Factors Influencing Market Growth
– Factors like the increase in the demand for vehicle designs and aesthetics, the surge in the production of vehicles, and the rise in the integration of smart access and keyless entry systems propel the development of the vehicle exterior door handle market.
– The high costs due to the integration of technological solutions and strict safety and regulatory standards hamper the growth of the vehicle exterior door handle market.
– The development of biometric and gesture recognition technologies and the rise in the demand for sustainable solutions and lightweight materials present remarkable growth opportunities for the players that function in the vehicle exterior door handle market.
Impact of COVID-19
The outbreak of the COVID-19 pandemic led to decreased demand for vehicle exterior door handles due to nationwide limitations on mobility, lockdowns, and downshift in shipments due to temporary closures of manufacturing structures. However, post-pandemic, boosted demand for vehicles, particularly, electric vehicles has been observed. Leading manufacturers are now concentrating on the growth of high-quality vehicle exterior door handles to cater to the rise in demand for the market.
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Asia-Pacific is anticipated to maintain significant growth in the global vehicle exterior door handle market, mainly driven by India, China, South Korea, and Japan. The major factors propelling the growth of the vehicle exterior door handle market in this region include population growth, the rise in the adoption of electric vehicles, and the boost in the disposable income of consumers. The growth and development of road transportation networks and infrastructure help the development of the automotive market in the region. The enhanced mobility and connectivity alternatives catalyze expanded vehicle ownership, leading to a surge in demand for automotive elements like vehicle exterior door handles.
The leading prominent companies profiled in the global vehicle exterior door handle market are: –
– ALPHA Corporation
– Magna International, Inc.
– ITW (Illinois Tool Works)
– Aisin Corporation
– Huf H?lsbeck & F?rst GmbH & Co
– Sakae Riken Kogyo Co.,Ltd
– MinebeaMitsumi, Inc.
– Witte Automotive
– ADAC Automotive
– Marquardt Management SE
– Kiekert AG
– Other prominent key players
The global vehicle exterior door handle market segmentation focuses on Type, Material, Distribution Channel, Vehicle Class, and Region.
Segmentation based on Type
– Pull out handle
– Pull up handle
– Flush door handle
Segmentation based on Material
– Stainless steel
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Segmentation based on Distribution Channel
Segmentation based on Vehicle Class
Segmentation based on Region
– North America
– The U.S.
– Rest of Europe
– South Korea
– Rest Of Asia-Pacific
– Latin America
– Middle East
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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