Insights into Automotive Tailgate Latch Market Share and Competitive Landscape for period from 2024 to 2031

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5 min read

The "Automotive Tailgate Latch Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Automotive Tailgate Latch market is expected to grow annually by 7.3% (CAGR 2024 - 2031).

This entire report is of 181 pages.

Automotive Tailgate Latch Introduction and its Market Analysis

The Automotive Tailgate Latch market research report provides an in-depth analysis of the current market conditions, with a focus on the key players such as Brose Fahrzeugteile GmbH & Co., Inteva Products LLC, Magna International Inc., Kiekert Aktiengesellschaft, Minda Vast Access Systems Pvt. Ltd., STRATTEC Security Corp., and Shivani Locks Private Limited. Automotive Tailgate Latch is a key component in vehicle safety and security systems. The target market for Automotive Tailgate Latch includes automotive manufacturers and aftermarket suppliers. Major factors driving revenue growth in this market include increasing demand for advanced safety features and technological advancements. The report's main findings highlight the market trends, opportunities, and challenges, with recommendations for companies to capitalize on the growing market potential.

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The global Automotive Tailgate Latch market is experiencing significant growth due to the rising demand for passenger cars and commercial vehicles. The market is segmented based on type into Electric Lock and Non-Electric Lock, and based on application into Passenger Car and Commercial Vehicle. Regulatory and legal factors specific to market conditions include stringent safety standards and regulations imposed by government bodies to ensure the safety of vehicles and passengers. Additionally, the increasing focus on reducing vehicle emissions and enhancing fuel efficiency is driving the market for electric tailgate latches, which offer better performance and reliability compared to non-electric latches. The market is highly competitive, with key players focusing on product innovation and technological advancements to gain a competitive edge. Overall, the Automotive Tailgate Latch market is expected to witness continued growth in the coming years, driven by increasing vehicle production and technological advancements in the automotive industry.

Top Featured Companies Dominating the Global Automotive Tailgate Latch Market

The automotive tailgate latch market is highly competitive, with key players such as Brose Fahrzeugteile GmbH & Co., Inteva Products LLC, Magna International Inc., Kiekert Aktiengesellschaft, Minda Vast Access Systems Pvt. Ltd., STRATTEC Security Corp., and Shivani Locks Private Limited among others. These companies operate globally and offer a wide range of automotive tailgate latch solutions for various vehicle types.

Brose Fahrzeugteile GmbH & Co. is a major player in the market, offering innovative latch systems that provide security and convenience for automotive applications. Inteva Products LLC specializes in providing cutting-edge latch solutions for both interior and exterior automotive components. Magna International Inc. is known for its high-quality latch systems that prioritize safety and reliability. Kiekert Aktiengesellschaft is a leading provider of automotive locking systems, including tailgate latches, that are known for their durability and performance.

Minda Vast Access Systems Pvt. Ltd. is a prominent player in the Indian market, offering a wide range of automotive locking solutions including tailgate latches. STRATTEC Security Corp. is a key player in the market, providing advanced security solutions for automotive applications. Shivani Locks Private Limited offers cost-effective and efficient tailgate latch solutions for the automotive industry.

These companies contribute to the growth of the automotive tailgate latch market by consistently innovating and improving their products to meet the evolving needs of the automotive industry. With a focus on quality, performance, and security, these companies help to ensure the safety and convenience of vehicle users.

While specific sales revenue figures may vary, these companies collectively generate significant revenue in the automotive tailgate latch market, with Magna International Inc. being one of the leading players in terms of sales revenue.

  • Brose Fahrzeugteile GmbH & Co.
  • Inteva Products LLC
  • Magna International Inc.
  • Kiekert Aktiengesellschaft
  • Minda Vast Access Systems Pvt. Ltd.
  • STRATTEC Security Corp.
  • Shivani Locks Private Limited

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Automotive Tailgate Latch Market Analysis, by Type:

  • Electric Lock
  • Non-Electric Lock

Automotive tailgate latches come in two main types: electric lock and non-electric lock. Electric lock tailgate latches can be operated remotely, offering convenience and enhanced security. On the other hand, non-electric lock latches are manually operated. The availability of various options caters to the diverse needs of consumers, therefore boosting the demand for automotive tailgate latches. Electric locks are preferred for their advanced features, while non-electric locks are more cost-effective. This variety in options appeals to a wider range of consumers, contributing to the growth of the automotive tailgate latch market.

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Automotive Tailgate Latch Market Analysis, by Application:

  • Passenger Car
  • Commercial Vehicle

Automotive tailgate latches are used in passenger cars and commercial vehicles to securely close the tailgate or rear door. In passenger cars, the latch provides easy access to the trunk while ensuring it stays closed during travel. In commercial vehicles, the latch is crucial for securing cargo and preventing theft. The fastest growing application segment in terms of revenue is commercial vehicles, as the demand for secure and reliable tailgate latches increases in industries such as logistics and transportation. Manufacturers are innovating to meet this demand with advanced latch designs for enhanced safety and security.

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Automotive Tailgate Latch Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The automotive tailgate latch market is expected to experience significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. With the United States and Germany leading the way in North America and Europe respectively, these regions are expected to dominate the market with a market share percent valuation of around 40% and 30% respectively. The Asia-Pacific region, particularly China and Japan, is also projected to witness substantial growth in the automotive tailgate latch market with a market share of around 20%. Latin America and Middle East & Africa are forecasted to account for the remaining 10% of the market share.

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