Door Control Modules Market Overview
Door Control Modules Market is projected to be worth USD 2.76 billion by 2028, registering a CAGR of 8.12% during the forecast period (2021 - 2028).
The global Door Control Modules Market is garnering substantial traction. Market growth is attributed to the increasing demand and adoption of automatic door controllers to manage and control central locking, window planes, and mirror adjustments. Besides, the rising production of luxury cars and passenger cars creates enormous market demand. Moreover, increasing absorption of power door lock control in electric vehicles (EVs) escalates the market growth to furthered height.
According to Market Research Future (MRFR), the global door control modules market is forecasted to reach approximately USD 2 BN by 2025, registering 7.5% CAGR throughout the assessment period (2019 – 2025). Technological advances in the field of automatic door control foster the growth of the market. Advances in sensor technology, alongside the spurring growth in the semiconductor industry, boost market growth. Also, rising popularity and prominence of easy-to-integrate security systems propel the Door Control Modules Market size.
Additionally, falling prices and advantages of door control modules influence the growth of the door control modules market. Growing per capita income is undoubtedly a key driving force that increases the size of the market, boosting consumer buying capability. Furthermore, substantial RD investments to innovate smart solutions positively impact the growth of the market.
On the other hand, volatility in the raw material prices and the demand-supply gap are significant factors estimated to impede market growth. Also, change in automotive components trade policies pose challenges for the growth of the market. Nevertheless, rising demand safety and security solutions in electric vehicles would support market growth throughout the assessment period.
Players leading the Global Door Control Modules Industry include STMicroelectronics (Switzerland), Continental AG (Germany), Robert Bosch GmbH (Germany), WABCO (Belgium), Texas Instruments Incorporated (US), Stoneridge, Inc. (US), ROHM Semiconductor (Japan), Magna International (Canada), HELLA GmbH Co. KGaA (Germany), and Mouser Electronics, Inc. (US), among others.
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Global Door Control Modules Market – Segmentation
The report is segmented into four dynamics;
By Type : Centralized and Decentralized.
By Sales Channel : OEM and Aftermarket.
By Vehicle Type : Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Door Control Modules Market – Geographical Analysis
The Asia Pacific region dominates the global Door Control Modules Market Share. The largest market share attributes to the rising sales and production of vehicles across the region. Due to the burgeoning automotive actor in India, China Japan allows the regional market to witness a rapid expansion stage. Besides, the wide adoption of sensor technology and advances in door control modules drives the market growth. Moreover, the strong presence of notable industry players and sensor manufacturing companies positively impact market growth. The APAC door control modules market is projected to retain its dominance throughout the estimated period.
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North America is another lucrative market for door control modules with a substantial share. The market is driven by the increase in the production of commercial vehicles and the demand for control module in the cars. Moreover, technological upgrades, alongside the increased adoption of automation, acts as a key tailwind for the regional market growth. Additionally, augmented demand and the availability of advanced automation systems in the region boost market growth.
Due to its well-established infrastructure that allows the development and early implementation of advanced technologies, the US accounts for an outstanding share in the regional market. Furthermore, the high standard of living drives the growth of the door control modules market in North America.
Europe accounts for a sizable share in the global Door Control Modules Market trends. Factors such as the presence of well-established automobile industries and key developers push the regional market growth. Also, the increasing adoption of automation and demand for smart technologies substantiate the growth of the regional market. Besides, the proliferation of intelligent and connected devices fuels the growth of the market. Rising product developments and installation push the growth of the regional market growth. Simultaneously, regulatory mandates introduced and the presence of a large untapped consumer base in the region provides impetus to the regional market growth.
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Global Door Control Modules Market – Competitive Analysis
Highly competitive, the Door Control Modules Market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt strategies such as mergers acquisitions, collaborations, and product/technology development. Substantial investments are transpired to develop products and expand global footprints.
The market witnesses increasing hardware and software technology innovation and adoption like never seen before, making more intelligent connected devices a reality. Most of the players adopt organic business strategies, whereas tier I II companies accentuate the inorganic business strategies to achieve their goals. Technological advancement has been acting as a tailwind boosting the industry heading to new opportunities, and attracting new entrants or start-ups.
Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Door Control Modules Market, By Type
5.1.1. Market Estimates Forecast, 2020-2027
5.1.2. Market Estimates Forecast By Region, 2020-2027
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