Vehicle Exterior Door Handle Market : by Material, Type, Distribution Channel, Vehicle Class, Global Analysis and Industry Forecast, 2023-2032

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/168624

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.

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

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, 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.

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/168624

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.

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.

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Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

This release was published on openPR.