Sluggish automotive industry growth through 2019 combined with disastrous downswings across 2020 induced by the coronavirus pandemic have significantly weighed down growth prospects for the global automotive door hinges market. Fortunately, rebounding car sales across markets such as China, combined with the enhanced scope for electric vehicles is likely to buoy the market through 2021, concludes ESOMAR-certified firm Future Market Insights, in its recently published report.
The anticipated upswing is noteworthy, considering a shortfall in global automotive production by over 4 million units in 2019. China, the global automotive powerhouse, contributed to the bulk of this decline, as tax rebates on automotive purchases were rescinded, and further exacerbated by the pandemic crisis. Moreover, projections by Fitch Ratings established 2% decline in US automotive sales to around 17 million units.
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Growth Avenues abound across the EV Market
While the aforementioned trends induced a downturn in the recent past, prospects are likely to be elevated with constant emphasis on boosting EV production. Accounting for over 2% of global automotive sales, the electric car fleet is expanding swiftly, driven by ambitious policy announcements, according to estimates by the International Energy Agency.
Spiking sales of key EVs such as Chevrolet Bolt, Mitsubishi Outlander PHEV and Tesla Model 3 have led to a wider growth scope for sales of automotive door hinges in 2020 alone. With proposed EV charging infrastructure expansion and an imminent business recovery on the card in the post pandemic world, key door hinge manufacturers are anticipated to capitalize on the ever widening EV market landscape, prompting a slew of innovations and product launches.
- Hybrid steel based automotive door hinges to acquire an elevated market share amid growing demand for enhanced strength
- By vehicle type, luxury passenger car door hinges to witness heightened sales
- Regular maintenance cycles to cement aftermarket automotive door hinge sales through 2021
- US to pivot North American market growth, attributed to stringent regulatory provisions concerning durability of automotive doors
- Prolific manufacturing technology advancements to bolster UK growth prospects
- Germany’s market growth banking on increasing future EV sales, emerging as the 2nd largest European market
- Post-pandemic recovery to post substantial gains across the Chinese automotive door hinges market
“Stringent automotive safety regulations to prevent accidents is prompting vehicle manufacturers to incorporate robust, lightweight yet durable construction material, accelerating growth prospects for automotive door hinge sales,” says an FMI analyst.
According to FMI’s analysis, the automotive door hinges market is peppered with the presence of following players: Dura Automotive LLC, Magna International Inc., Aisin Seiki Co. Ltd., Gestamp Group, Multimatic Inc., Brano Group, DEE Emm Giken, ER Wagner, Midlake Products & Mfg. Company Inc., Pinet Industrie, Monroe Hinge, Rell Precision Manufacturing Inc., The Paneloc Corporation and Saint Gobain.
Emphasis on technological innovations is keeping key manufacturers at the forefront of the market. For instance, Saint Gobain is developing two key solutions dedicated to prevent the onset of corrosion across automotive door hinges. The first one is that of e-painting and the second one is development of conductive notches protruding from a non-conductive sliding surface, which eliminates paint bridges at the interface between sliding surfaces.
More Insights on the Automotive Door Hinges Market
In its latest report, FMI offers an unbiased analysis of the global automotive door hinges market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type, vehicle type, material and sales channel.
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Automotive Door Hinges Market- Report Scope
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||North America, Latin America, Western Europe, Eastern Europe Middle East & Africa, East Asia, South East Asia & Pacific, India, China and Japan|
|Key Countries Covered||U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Russia, Poland, China, Japan, ASEAN, Australia & New Zealand, India, GCC and South Africa|
|Key Segments Covered||Product Type, Vehicle Type, Material and Sales Channel|
|Key Companies Profiled||
|Report Coverage||Market Introduction, Market Background, Demand Analysis, Segmental Analysis, Regional Profiling and Competition Analysis|
|Customization & Pricing||Available upon Request|
Key questions answered in the report
- How will the automotive door hinges market expand in 2021 and beyond?
The global automotive door hinges market is anticipated to experience credible gains through 2021, experiencing a resurgence in the post-pandemic scenario. Manufacturers are emphasizing on key technological advancements to enhance their portfolios.
- Which key factors shall drive the automotive hinges market growth?
Growing popularity of EVs and technological breakthroughs such as 3D-printing are expected to fuel future sales of automotive door hinges in the upcoming year. Additionally, stringent regulatory provisions to ensure safety standards is driving adoption.
- Which is the most likely automotive door hinges manufacturing hub through 2021?
China is anticipated to experience the maximum growth, owing to its apex position in the global automotive manufacturing landscape. Progressive government policies to bolster vehicle production is likely to remain the principal expansion driver