Industry Background:
The trunk latch is the mechanism that holds a trunk closed. A car trunk latch is made up of mechanical components and electronics. The trunk or luggage compartment is most often located at the rear of the car. To securely close the trunk, the trunk latch is positioned on the trunk of the vehicle and connects to the bottom of the vehicle. It's waterproof and will keep belongings safe from the weather. Because trunks can be opened and closed with the key module or the touch of a button, certain automobiles contain modules, fuses, and batteries in the trunk area. As a result, the latch is crucial to the proper operation of the car. Trunk locks come in a variety of shapes and sizes, depending on the make and model of the vehicle. A locking mechanism in the center of your trunk, motors, sensors, or a metal hook can all be used as a latch. If any of these components aren't functioning properly. An increase in global automobile production will drive the growth of the car trunk larches marketThis growth is primarily driven by Increasing Demand for Cars
.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies in Study | Kiekert AG (Germany), Principal Manufacturing Corporation (United States), Brose Fahrzeugteile GmbH & Co. KG (Germany), Huf Hulsbeck & Furst GmbH & Co. KG (Germany), Mitsui Mining & Smelting Co., Ltd. (Japan), STRATTEC (United States), GECOM Corporation (United States), Yau Young Auto Parts Ind. Co., Ltd (Taiwan), U-Shin Ltd. (Japan) and Inteva Products, Llc (U.S.) |
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 |
Globally, a noticeable market trend is evident Demand for Innovative Products with Improved Features. Major Vendors, such as Kiekert AG (Germany), Principal Manufacturing Corporation (United States), Brose Fahrzeugteile GmbH & Co. KG (Germany), Huf Hulsbeck & Furst GmbH & Co. KG (Germany), Mitsui Mining & Smelting Co., Ltd. (Japan), STRATTEC (United States), GECOM Corporation (United States), Yau Young Auto Parts Ind. Co., Ltd (Taiwan), U-Shin Ltd. (Japan) and Inteva Products, Llc (U.S.) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2021- Fisker Launches Ocean Electric Crossover this car comes with the no frunk (front trunk) and what would traditionally be called the hood is fixed as on the BMW iX.
In August 2021 -Hyundai and Kia are recalling more than 600,000 vehicles in the U.S. because damage to the trunk latches can stop them from being opened from the inside.
Market Drivers
- Increasing Demand for Cars
- Growing Focus on Automotive Safety and Security
Market Trend
- Demand for Innovative Products with Improved Features
Restraints
- Fluctuations in Raw Material Prices
Opportunities
Growing Automotive Industry Worldwide and Emergence of Trunk Latches Technologies
Challenges
Cost Associated With the Manufacturing of Latches
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Car Trunk Latches Study Sheds Light on
The Car Trunk Latches Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Car Trunk Latches industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Car Trunk Latches industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.