According to a report, the global Automatic Vehicle Locking System Market is expected to experience a stable Compound Annual Growth Rate (CAGR) of approximately 4.3% by the year 2026. The report provides a comprehensive analysis of various aspects such as the size, share, demand, trends, growth, gross profits, earnings, and revenue to evaluate the potential rise of the industry in the future. The analysis is based on data collected from 2016 and 2017, with 2018 as the base year, to offer an extensive view of the industry trends and predict the possible growth of the Automatic Vehicle Locking System market between 2019 to 2026.
Automatic Vehicle Locking System are a type of locking mechanism that operates based on the flow of electric current. These systems enable the driver or front occupant to lock or unlock all the doors in the vehicle simultaneously through a button or switch. Most cars currently being manufactured come with a central locking system that can unlock everything from the luggage compartment to the fuel filter cap door. In some modern vehicles, the doors automatically lock when the car is put into gear or reaches a specific speed.
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The demand for suburban utility vehicles and crossovers has increased due to their benefits such as better efficiency, lightweight equipment, and three-row seating. This rise in demand has resulted in an increased need for advanced locking systems, leading to the growth of the global automotive electronic systems market. Other factors contributing to this growth include safety concerns, the need for better anti-theft systems, increasing digitization, automation, and sustainability policies.
Locking systems for cars have undergone several improvements over the years. For instance, in 2018, Kiekert, a major German supplier of latch, introduced an electric release latch called NuEntry, which uses exterior touch sensors that allow users to open the door with a fingertip or smartphone. The company also plans to introduce components for controlling vehicle access, preventing dings, and opening and closing vehicle doors automatically for the autonomous vehicle market. The advent of autonomous vehicles, increasing demand for electric and hybrid cars, and continuous innovations in locking systems are expected to drive the growth of the Automatic Vehicle Locking System market in the coming years.
Key companies profiled in the report include:
- Brose Fahrzeugteile
- MITSUBA Corporation
- Steelmate
- Valeo
- Valeo
- Robert Bosch GmBH
Market segment based on Product Type:
- Ordinary
- Alarm System
- Others
Market segment based on Vehicle Type:
- Passenger Car
- Commercial Vehicle
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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