Global Automotive Tailgate Latch Market Overview:
An automotive tailgate latch is a mechanism used to secure the tailgate of a vehicle, typically a truck or SUV, in the closed position. It ensures that the tailgate remains shut while the vehicle is in motion, preventing it from accidentally opening and potentially causing damage or hazards to other vehicles or pedestrians. They are an essential safety feature in vehicles with tailgates, ensuring that cargo and other items stored in the truck bed remain secure during transportation.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Adoption of Power-operated Tailgate Systems. The Systems Offer Hands-free Operation and Programmable Height Adjustment
Market Growth Drivers:
Rising Automotive Production and Increasing Vehicle Sales Drive the Demand for Automotive Tailgate Latch Market
Challenges:
Automotive Industry Relies on Complex and Interconnected Global Supply Chains, Making It Vulnerable to Disruptions Such as Natural Disasters, Geopolitical Tensions, and Trade Disputes
Restraints:
High Development Costs for Designing and Developing Advanced Tailgate Latch Systems with Features Such as Power Operation
Opportunities:
Rising Shift Towards Electric and Autonomous Vehicles Presents Significant Opportunities for Tailgate Latch Market
Competitive Landscape:
Manufacturers can differentiate their tailgate latch products by offering unique features, such as advanced safety functionalities, smart technologies, customizable designs, and enhanced durability. In addition, major players have adopted various strategies such as product portfolio expansion, geographic expansion, agreements, and collaborations to increase their market share and strengthen their foothold in the industry.
Some of the key players profiled in the report are Brose Fahrzeugteile GmbH & Co. KG, Kiekert AG, Magna International Inc., Strattec Security Corporation, Inteva Products LLC, Witte Automotive, Minda Vast Access Systems Pvt. Ltd., STRATTEC Security Corp., Mitsui Mining and Smelting Co. Ltd. and Dayco Products LLC. Considering Market by Type, the sub-segment i.e. Manual Tailgate Latch will boost the Automotive Tailgate Latch market. Considering Market by Sales Channel, the sub-segment i.e. OEM (Original Equipment Manufacturers) will boost the Automotive Tailgate Latch market.
In June 2023, Kiekert offered optimal solutions in modular locking systems for trunk lids and tailgates. The company's newly developed generic trunk latch family covers all market and customer needs. The trunk latch family consists of three variants, ranging from a basic solution to the maximum optimized opening and closing process.
What Can be Explored with the Automotive Tailgate Latch Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Tailgate Latch Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Tailgate Latch
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Tailgate Latch market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Tailgate Latch market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automotive Tailgate Latch Manufacturers, Suppliers and Distributors, New Entrants/Investors, Government Regulatory and Research Organizations, Market Research & Consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.