Demand High for Lightweight Automotive Door Hinges to Achieve Superior Fuel Economy, Finds FMI Study
Lightweight Door Hinge Material to Create Trending Opportunities in the Global Automotive Door Hinges Market
The Future Market Insights market report titled “Automotive Door Hinge Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028” examines the automotive door hinge market and offers key market insights for the next ten years. According to the company’s analysis, the global sales of automotive door hinge was valued at US$ 3,187.4 Mn by the end of 2018 and is anticipated to register a 3.7% CAGR over the period of 2018–2028. This report analyses the demand for automotive door hinges and its break-up on the basis of different sales channels, materials, types, vehicle types and regions.
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Use of Advanced Materials to Develop Durable & Strong Automotive Door Hinges
According to estimates, the global automotive door hinge market is expected to reach approximately US$ 10,536.2 Mn by 2028. Key market players are trying to develop strong and long-lasting door hinges that are efficient and can sustain a variety of loads depending on the door capacity of the vehicle. In the recent times, lightweight design conceptions have gained prominence in the automotive industry, particularly for environmental and economic sustainability. Automotive manufacturers are investigating in the usage of novel material to decrease air pollution and fuel consumption, owing to the growing environmental concerns.
A number of players in the automotive door hinge market have been emphasizing on product development to enable the transition to latest and upcoming government emission regulations such as Bharat Stage VI, China National Standard V and VI and Euro six to name a few. Such emission standards/regulations are expected to trigger innovation in the door hinge market.
Steel Automotive Door Hinge Segment to Capture Significant Share
On the basis of material type, the automotive door hinge market has been segmented into steel, aluminium, and brass/bronze/composite material. Among the three segments, the steel automotive door hinge segment accounts for a significant share in the market.
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Passenger Car Segment to be an Important Segment in Automotive Door Hinge Market
On the basis of vehicle type, the passenger car segment is expected to be a major segment in the automotive door hinge market. The demand for passenger cars is anticipated to be grow at a significant CAGR over the forecast period.
Western Europe, North America and China to Hold Noteworthy Shares in Global Automotive Door Hinge Market
On the basis of region, the automotive door hinge market has been segmented into nine regions: North America, South East Asia, Latin America, Japan, China, India, Eastern Europe, MEA and Western Europe. Among all regions, North America, Western Europe and China are estimated to capture significant shares in the global automotive door hinge market. Economic growth in countries such as India and China is likely to accelerate in the coming years, which is expected to translate into an increase in vehicle production in the region. This is expected to lead to an upsurge in the demand for automobiles and components, which in turn is estimated to boost the demand for automotive door hinges.
North America is an established region with abundant demand for vehicles. The increasing demand for vehicles in the U.S. and Canada is expected to support the growth of the automotive door hinge market. The region boasts of the presence of some well-known vehicle manufacturers, such as Ford, Fiat and General Motors. Prominent manufacturers, such as the ones mentioned, are utilizing lightweight materials of superior quality for the production of automotive door hinges.
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Global Automotive Door Hinge Market: Competitive Landscape
Some of the players reported in this study of the global automotive door hingemarket are Dura Automotive System LLC, Magna International Inc., Aisin Seiki Co. Ltd., Gestamp Group, Multimatic, ER Wagner Manufacturers, Milan Metal System LLC, Saint Gobain, Brano Group and Global Rollforming System LLC.