DUBLIN--(BUSINESS WIRE)--The "Automotive Closure - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Closure Market to Reach US$30.7 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Automotive Closure estimated at US$19.6 Billion in the year 2020, is projected to reach a revised size of US$30.7 Billion by 2027, growing at a CAGR of 6.6% over the period 2020-2027.
Light-Duty Vehicles, one of the segments analyzed in the report, is projected to grow at a 7.3% CAGR to reach US$18.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Buses segment is readjusted to a revised 5.6% CAGR for the next 7-year period. This segment currently accounts for a 43.3% share of the global Automotive Closure market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 10.1% CAGR for the Period of 2020-2027
The Automotive Closure market in the U.S. is estimated at US$5.3 Billion in the year 2020. The country currently accounts for a 27.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.7 Billion in the year 2027 trailing a CAGR of 10.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$6.7 Billion by the year 2027.
The publisher brings years of research experience to this 6th edition of the report. The 287-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Aisin Seiki Co. Ltd.
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- HELLA KGaA Hueck & Co.
- Johnson Electric Group
- Magna International, Inc.
- Mitsuba Corporation
- Omron Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Valeo SA
- Visteon Corporation
Total Companies Profiled: 44
For more information about this report visit https://www.researchandmarkets.com/r/emzy2a
Laura Wood, Senior Press Manager
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