Automotive Door Latch
Global Automotive Door Latch Market to Reach $11 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Automotive Door Latch estimated at US$7.6 Billion in the year 2022, is projected to reach a revised size of US$11 Billion by 2030, growing at aCAGR of 4.7% over the period 2022-2030. Non-Electronic, one of the segments analyzed in the report, is projected to record 4.5% CAGR and reach US$6.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electronic segment is readjusted to a revised 5.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 7.1% CAGR
The Automotive Door Latch market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
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