Technological innovations and enhancing product quality are the key factors keeping automotive door hinges manufacturers at forefront of the market.
DUBAI, UAE / ACCESSWIRE / April 8, 2021 / ESOMAR-certified market research firm Future Market Insights' recent report on the global automotive door hinges market opines a positive outlook for 2021, owing to the rapid recovery in automotive sector. Although demand for automotive door hinges was sluggish until 2019, the sharp recovery with the surge in demand for electric vehicles is expected to sustain growth through 2021.
Quick recovery across emerging markets such as China, UK and EU are sustaining automotive sales, accelerating the growth. With vehicular launches lining up through 2021 and beyond, there's a sudden spike in sales of electric vehicles. Also, incorporation of lightweight yet construction material remains a key focus areas for manufacturers. The rapid urbanization in the developing countries is also bolstering the demand for automotive door hinges.
For instance, EV's launches through 2021 such as Tesla Model 3, Porsche Taycan, Audi e-Tron, Jaguar I-Pace and others are expected to register a prolific increase. The aforementioned vehicular launches are proving to be key driver for EVs sales, fuelling automotive door hinges growth.
"Manufacturers using aluminum for the production of light weight yet durable door hinges for sustainability is spurring the growth. The alarming awareness for the eco-friendly construction material in automotive door hinges manufacturing are stimulating production of lightweight door hinges, widening expansion prospects," remarks the FMI analyst.
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Key Takeaways
- Strict regulations and high demand for durable yet lightweight material to improve growth opportunities for US automotive door hinges manufacturers
- Stainless steel automotive door hinges to witness accelerated sales through 2021
- Luxury passenger cars demand will continue to grow in 2021 and beyond
- OEM's and aftermarket are propelling the global market demand
- Owing to the surge in demand for electric vehicles, Germany to be the epicenter of European market
- Heightened demand for LCVs to accelerate automotive door hinges sales in China
Prominent Drivers
- Recovery in automotive sector post pandemic to increase electric vehicle sales, driving the market growth
- Incorporation of aluminum automotive door hinges for sustainability to induce R&D among manufacturers
Key Restraints
- Adoption of low quality raw material by small scale manufacturers likely to pose a challenge
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Competitive Landscape
Key manufacturers operating in automotive door hinges market profiled by FMI include Dura Automotive LLC, Magna International Inc., Aisin Seiki Co., Ltd., Gestamp Group, Multimatic Inc., Brano Group, DEE Emm Giken, ER Wagner, Midlake Products and Mfg Company Inc., and Saint Gobain among others.
In March 2021, Xiaomi announced its plan to enter smart electric autotmotive segment with US$ 1.5 billion investment.
Also, in August 2020, MiddleGround Capital announced the acquisition on majority ownership of Dura Automotive Systems, a global leader and manufacturer of highly engineered automotive systems, from Bardin Hill Investment Partners. This MiddleGround's sixth platform acquisition made from its first fund, which closed in August 2019.
More Insights on FMI's Automotive Door Hinges Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021-2031. The global automotive door hinges market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on automotive door hinges market on basis of sales channel (OEM and aftermarket), material (steel, aluminum, brass/bronze/composite material), product (front & rare automotive door hinges, and tailgate hinges/bonnet hinges), vehicle (passenger car, LCV and HCV) across North America, Western Europe, Latin America, Eastern Europe, China, India, Japan, SEA and Middle East & Africa.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights
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