Transparency Market Research (TMR) provides key insights on the door panel market for luxury vehicle in its latest report titled “Door Panel Market for Luxury Vehicle – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid growth of the automotive industry in Asia Pacific is predicted to drive the door panel market for luxury vehicle during the forecast period. Countries in Asia Pacific have witnessed increased demand for bio-based and eco-friendly sealants that offer growth opportunities to the door panel market for luxury vehicle.
Stringent emission regulation norms by regulatory bodies are compelling automakers to resort to light weighting components to reduce emissions and improve fuel efficiency. Plastic composite materials are lightweight and are increasingly used in door panels of luxury vehicles. Plastic composites reduce the weight of the vehicle and provide structural rigidity and stability. The global auto sector is increasing the adoption of green technology, thus the demand for lightweight door panels for luxury vehicles is projected to increase further during the forecast period.
The report has segmented the global door panel market for luxury vehicle based on technology, vehicle, material, and region. Based on material, the door panel market for luxury vehicle is categorized into steel, aluminum, and plastic composites. High demand for light weighting is expected to boost the plastic composite segment. In terms of region, the door panel market for luxury vehicle is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific is expected to emerge as a leading market due to the rise in demand for luxury vehicles in the region.
India is witnessing rapid economic growth and is expected to emerge as a lucrative market for door panel for luxury vehicle. Rise in demand for comfort and luxury is also expected to boost the door panel market for luxury vehicle. Rise in competition among automakers for product differentiation is projected to increase the demand for door panel for luxury vehicles. In 2017, China accounted for more than 32% of the global luxury vehicle sales.
Prominent players operating in the global door panel market for luxury vehicle are included in this report to give a better competitive landscape and these are Aisin Seiki Co., Ltd., Automotive Systems, LLC, Faurecia SA, Magna International Inc., Brose Fahrzeugteile GmbH & Co. KGDura, Continental AG, and Johnson Electric.
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