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Automotive Closures Market Witnessing Impressive Growth Due To Increasing Expansion In Automobile Sector

Global Market: Introduction

The main factors behind the growth of automotive closures market is the expansion in the automobile sector and the fact that major players across the globe are enhancing their production capacity.

R&D is being carried out to optimize the operations of automotive closures as well as decrease the weight of vehicles, which will eventually increase their efficiency and work life.

Apart from this, automotive closures are an integral part of the structure of an automobile, and hence, the development of automobile sector will also add to the growth of the global automotive closures market.

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Automotive Closures Market: Regional Outlook

Europe holds a major share in the global automotive closures market owing to the presence of major OEM players in the region. Europe is followed by North America.

However, Asia Pacific is expected to show robust growth in the automotive closures market during the forecast period owing to increase in income levels/ per capita income of the general population of the countries in this region coupled with lower concentration of vehicles as compared to developed economies.

Europe, North America and the Asia Pacific regions are expected to hold more than half of the total share in the global automotive closure market. Rest of the world is estimated to account for a relatively small share in the Automotive Closures market.

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Automotive Closures Market: Market Participants

Some of the market participants operating across the value chain of the global Automotive Closures Market are:

  • Continental AG
  • Magna International Inc
  • Johnson Electric
  • Robert Bosch GmbH
  • Aisin Seiki. Co. Ltd.
  • Ford Motor Company
  • General Motors
  • Toyota Motor Corporation
  • Volkswagen AG
  • Honda Motor Company, Ltd.

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