Vehicle Exterior Door Handle Market Expected to Reach $9.4 Billion with a CAGR of 5.1% by 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.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚:- https://www.alliedmarketresearch.com/request-sample/168624

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

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.

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.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀

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.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 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.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮:- https://www.alliedmarketresearch.com/purchase-enquiry/168624

𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

ALPHA Corporation
Magna InternationalInc.
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.

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄

By type, the pull out handle segment dominated the global vehicle exterior door handle market in 2022, in terms of revenue, and is expected to lead the market throughout the forecast period. By material, the plastic segment accounted for a major share in 2022. In 2022, Asia-Pacific was the highest revenue contributor, followed by Europe.
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.

Similar Reports We Have on Automotive Industry:

Automotive Door Panel Market - https://www.alliedmarketresearch.com/automotive-door-panel-market
Autonomous Bus Door System Market - https://www.alliedmarketresearch.com/autonomous-bus-door-system-market-A06270

Automotive Door Trims Market - https://www.alliedmarketresearch.com/automotive-door-trims-market-A07235

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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.

This release was published on openPR.