Vehicle Exterior Door Handle Market to Hit $9.4 Billion by 2032 with a 5.1% CAGR | Industry Report

PORTLAND, OREGAON, UNITED STATES, June 20, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Vehicle Exterior Door Handle Market," The vehicle exterior door handle market size was valued at $5.8 billion in 2022, and is estimated to reach $9.4 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.

The global vehicle exterior door handle industry is dominated by Asia-Pacific, followed by Europe, North America, and LAMEA. Asia-Pacific is expected to maintain significant growth in the global market, particularly driven by China, India, South Korea, and Japan. The major factors driving the growth of the vehicle exterior door handle market in Asia-Pacific include rise in adoption of electric vehicles, growth in population, and increase in disposable income of consumers. Development and expansion of road infrastructure and transportation networks support the growth of the automotive market in the region. The improved connectivity and mobility options act as a catalyst for increased vehicle ownership, leading to a surge in demand for automotive components such as vehicle exterior door handles.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A168140

Based on type, the pull out handle segment held the highest market share in 2022. Pull-out door handles are utilized in a diverse range of vehicles, including sedans, SUVs, trucks, and hatchbacks on account of their effortless operation and ease of use. The flush door handle segment is expected to register the highest CAGR from 2023 to 2032. Flush door handles have gained significant popularity in modern car designs, particularly in high-end and luxury vehicles. The minimalist and sophisticated look of the flush-type door handles enhances the overall aesthetics of the vehicle.

The global automotive industry has witnessed growth, leading to a higher demand for cars, trucks, and other vehicles equipped with vehicle exterior door handles. Moreover, automotive manufacturers constantly aim to integrate innovative features into exterior door handles, such as keyless entry systems, touch-sensitive sensors, and smart access technology, attracting consumers and enhancing convenience. For instance, in July 2023, Mahindra revealed the features of its SUV XUV700. The car features a smart door handle integrated into the body panel and is equipped with a sensor for automatic operation, which enables it to automatically pop out when touched or when the car is unlocked. Such innovative features in the door handle system is expected to drive the growth of the market.

In addition, the rise in the demand for vehicles with enhanced security features, and robust and reliable exterior door handles is expected to contribute to the growth of the vehicle exterior door handle market during the forecast period.

The demand for lightweight materials and sustainable solutions drives innovation in the automotive industry. Automobile manufacturers adopt door handles designed with new eco-friendly materials and manufacturing processes. For instance, Mercedes-Benz, a German luxury automobile manufacturer has taken a significant step toward sustainability by incorporating chemical recycling components into their series production.

Since 2022, the EQE and S-Class series-production models have been offering bow door handles made using a unique combination of biomethane and pyrolysis oil sourced from scrap tires, instead of relying on conventional fossil resources. This eco-friendly approach not only reduces dependence on raw fossil materials, however, also supports the principles of circular economy and waste reduction.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/vehicle-exterior-door-handle-market/purchase-options

In addition, door handle manufacturers aim to use materials to design door handles with less weight to improve performance of the vehicles. For instance, Huf provides automotive makers with door handles systems that weigh less than one kilogram. Such factors are expected to provide lucrative opportunities for the growth of the market.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The outbreak of COVID-19 led to reduced demand for vehicle exterior door handles due to nationwide lockdowns, restriction on mobility, and slowdown in shipments due to temporary closures of manufacturing facilities. However, post-pandemic, increase in demand for vehicles, especially, electric vehicles has been observed. Leading manufacturers are now focusing on the development of high quality vehicle exterior door handles to cater to increase in market demand.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the flush door handle segment is anticipated to exhibit significant growth in the future.

By material, the plastic segment is anticipated to exhibit significant growth in the future.

By distribution channel, the OEM segment is anticipated to exhibit significant growth in the future.

By vehicle class, the SUV segment is anticipated to exhibit significant growth in the future.

By region, Europe is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A168140

Key players operating in the global vehicle exterior door handle market include 𝐀𝐋𝐏𝐇𝐀 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐌𝐚𝐠𝐧𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐈𝐧𝐜., 𝐈𝐓𝐖 (𝐈𝐥𝐥𝐢𝐧𝐨𝐢𝐬 𝐓𝐨𝐨𝐥 𝐖𝐨𝐫𝐤𝐬), 𝐀𝐢𝐬𝐢𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐌𝐨𝐭𝐡𝐞𝐫𝐬𝐨𝐧, 𝐇𝐮𝐟 𝐇ü𝐥𝐬𝐛𝐞𝐜𝐤 & 𝐅ü𝐫𝐬𝐭 𝐆𝐦𝐛𝐇 & 𝐂𝐨. 𝐊𝐆, 𝐒𝐚𝐤𝐚𝐞 𝐑𝐢𝐤𝐞𝐧 𝐊𝐨𝐠𝐲𝐨 𝐂𝐨.,𝐋𝐭𝐝, 𝐌𝐢𝐧𝐞𝐛𝐞𝐚𝐌𝐢𝐭𝐬𝐮𝐦𝐢, 𝐈𝐧𝐜., 𝐖𝐢𝐭𝐭𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞, 𝐀𝐃𝐀𝐂 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞, 𝐌𝐚𝐫𝐪𝐮𝐚𝐫𝐝𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐄, 𝐚𝐧𝐝 𝐊𝐢𝐞𝐤𝐞𝐫𝐭 𝐀𝐆.

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter