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The automotive door latch market refers to the sector within the automotive industry that focuses on the design, manufacturing, distribution, and installation of door latch systems for vehicles. Door latches are critical components of vehicle doors, responsible for securely latching and unlatching doors to ensure passenger safety and vehicle security.
Currently, there is a growing demand for new variants due to a surge in the demand for electric and hybrid vehicles. This is also bolstered by the current collective government efforts incentivizing the adoption of electric/hybrid cars. Hence, the key payers need to innovate for developing custom designs.
The demand for automotive parts for premium cars is also on the rise. Manufacturers need to build sophisticated and highly efficient automotive latches for utility in these sophisticated automobiles. Currently, consumers are keen on improving ease of operation, while not compromising on the safety aspects. There is also demand for specialized automotive latches that help prevents theft in vehicles. It Is one of the major uses of specialized automotive latches.
Market innovations Bolstered by Key Mergers:
Enhancement of product profile through technological innovations is the key focus of market players. To further such endeavors, the current trends point to rampant mergers and acquisitions. New-age technologies such as AI and smart sensors are being implemented through the resource pooling of key players. A growing trend is there of partnerships with technological giants.
Automotive Latch Market – Key Developments:
Magna recently launched the comfort plus door latch that aims to improve efficiency and reduce noise. The product does this effectively by converting sliding friction into rolling friction for ease. It Is one of the key uses of this product and benefits immensely.
Honeywell recently adopted the “corporate latch” strategy in which the same latch is used across different manufacturing platforms. Honeywell’s latest design is meant to help maximize reuse while reducing the tooling costs.
Latch, recently launched Latch OS, which enables the smart integration with Honeywell thermostats, Sonos speakers, and even Leviton light switches. All these can be centrally controlled using the Latch app.
August is a startup system that aims at providing smart access/ latch systems. It can also be controlled through a mobile application to prevent thefts.
Leading Key Players:
STRATTEC, Kiekert AG, Inteva Products LLC, Aisin Seiki Co. Ltd., Magna International Inc., WITTE Automotive GmbH, Brose Fahrzeugteile GmbH & Co. KG, U-Shin Ltd, Shivani Locks Private Limited, MITSUI KINZOKU
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