The automotive window regulator market 2020 can potentially gain a valuation close to USD 8 billion by 2025, confirms Market Research Future (MRFR). MRFR also anticipates the market to attain considerable grounds at rate of 4.5% between 2019 and 2025 (review period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak.
The COVID-19 outbreak has been a major cause for the massive decline in vehicle sales worldwide, resulting from the shutdowns along with the fluctuations in oil prices. Renowned automotive manufacturers are taking up various tactics in a bid to mitigate the detrimental impact of the pandemic by examining their dealerships to facilitate flow of services. The short-term impact of COVID-19 on the automotive industry has led to shutting down of a majority of the assembly plants in the US coupled with manufacturing interruptions across Europe as well as ceased export of components from China, following the imposition of the lockdown across various regions. Following the onset of SARS-CoV-2, the demand in the market for commercial vehicles has dropped substantially because of the shutdown of all the non-essential services everywhere.
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With that said, experts believe that by the time a COVID-19 breakthrough is achieved, the automotive window regulator market can remain strong, due to the continuous efforts given by key companies to bring down the revenue losses, armed with mitigation tactics such as acquisitions & mergers, to name a few.
Although the impact of the novel coronavirus has been significant, the mounting demand for high-performance automobiles and the rising electrification in vehicles can induce growth in the automotive window regulator market. Moreover, companies are joining hands to remain afloat in the market following the pandemic outbreak, by launching and developing advanced automotive components. To illustrate, in June 2020, THE Malaysia Automotive, Robotics and IoT Institute (MARii) has collaborated with Multi-Code Electronics Industries (M) Bhd (MCE) to develop and launch essential automotive components that can boost the demand for autonomous driving. Some of the critical automotive components being developed are voice command and anti-pinch window regulators, sensors, switches, day-running light, LED lamp, along with advanced driver-assistance systems.
Major vendors studied in the market research include Hi-Lex Corporation (Japan), Valeo ( France), Shiroki Corporation (Japan), KUSTER Holding GmbH (Germany), Elta Automotive Ltd (UK), Brose Fahrzeugteile GmbH & Co. KG (Germany), Grupo Antolin (Spain), Shanghai SIIC Transportation Electric Co., Ltd. (China), Dura Automotive Systems, Inc (US), Huayu Automotive Systems Company Limited (China), and more.
Main Drivers and Key Deterrents
The escalating disposable income of people, developments of infrastructure and improving consumer sentiments have culminated into booming sales of vehicles, which has led to incredible growth of the automotive window regulator market. Automotive stands as one of the most profitable industries in the world, with more and more OEMs establishing manufacturing units across various regions. These factors are also bound to work in favor of the automotive window regulator industry.
In recent years, there has been a sharp rise in the number of car manufacturers across the globe, because of the population explosion and the rising preference for personal vehicles. The situation is further supported by the fact that several financial institutes and banks are devising diverse loan schemes that facilitate owing of a car. This positively shapes the market dynamics for automotive window regulators.
Another reason for the notable business growth has been the presence of a huge number of renowned automotive manufacturers and suppliers in the global market. To cite an example, Japan is one of the most technical brilliant countries and holds a massive pool of automotive manufacturers such as Toyota, Mitsubishi, Honda, Nissan, Subaru, Hino, Fuso, Mazda, Lexus and Daihatsu, and more.
The Automotive Window Regulators Market can be considered for type, technology, propulsion, sales channel as well as vehicle type.
The types of window regulators are semi-automatic, manual and automatic. It is projected that the manual segment can gain at the highest rate as a result of the soaring demand for vintage cars.
The key technologies discussed in the study are x-arm, single arm, and more. The single arm segment can expect consistent growth on account of the high deployment of single arm window regulators since its conception and their familiarity among consumers.
The propulsion types include ICE as well as electric vehicle. The demand for electric vehicles is expected to be high in the market due to the growing preference for eco-friendly vehicles.
The primary sales channels described in the report are OEM along with the aftermarket. The bigger share in the market can go to the OEM segment, since the number of OEM manufacturers has risen significantly along with the expanding automotive industry in emerging regions.
The vehicle types are commercial vehicle and passenger car. The fast consumption of power regulators within compact and sub-compact cars has led to the dominance of the passenger car segment in the global market.
The regional study of the market comprises North America, APAC/Asia Pacific, Europe, along with RoW/rest of the world. APAC is the most profitable market for automotive window regulators while North America is one of the stronger contenders globally.
In Europe, stringent government regulations are quite prevalent, which pertain to vehicle and passenger safety. Also, the regional market consists of a significant number of leading manufacturers such as Valeo, Elta Automotive and Brose Fahrzeugteile, which boosts the expansion of the automotive window regulator market. The growing prominence of advance technologies such as AI, big data and IoT across the automotive sector in the region also fuels market demand.
North America can be a steadily expanding market as a result of the mounting demand for autonomous as well as semi-autonomous vehicles. The consumers here demand vehicles with advanced features, which prompt automakers to concentrate on massive production of vehicles that cater to these demands. Sensors that are powered by electronic systems are used significantly to secure vehicles, which boosts the industry outlook in the region.
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