Automotive Window Regulator Market Volume CAGR Projected to Grow at 3.3% Through 2027

The Passenger Cars segment is projected to grow at a relatively fast pace in the global market

The Passenger Cars segment gained 40 BPS from 2012 to 2017 and is projected to gain 110 BPS between 2017 and 2027. The segment dominates in comparison to the LCV and HCV segments owing to an increased production of passenger cars. The Passenger Cars segment is projected to create total incremental $ opportunity of more than US$ 5,000 Mn between 2017 and 2027. The segment is expected to account for close to 90% share of the global market absolute $ incremental opportunity and is anticipated to grow 1.5X in terms of value between 2017 and 2027. The Passenger Cars segment is expected to maintain its dominance in the market throughout the forecast period in terms of value. This is mainly attributed to the comparatively high sales of passenger cars especially in the Asia Pacific, Latin America and Eastern Europe regions. The Passenger Cars segment is projected to account for a relatively large share in terms of both value and volume, while the HCV segment will account for a relatively low market value share by 2027.

Increasing number of vehicle sales and companies shifting from manual to automated window regulators likely to boost the global automotive window regulator market

Factors such as increasing purchasing power of people, advancements in infrastructure and improved consumer sentiments are together driving the demand for vehicles, which in turn increases the demand for automotive window regulators. The automotive industry contributes a healthy percentage of the world’s GDP. More number of OEMs are setting up their manufacturing units across the world. India and China are the prominent markets for car manufacturers owing to increasing population and growing need for personal vehicles. Moreover, many banks and financial institutes are coming up with different loan schemes, making it relatively easy to own a car.

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Manufacturers are focussing on producing electric or automated window regulators, owing to the better functionality and efficiency. Furthermore, Corporate Average Fuel Economy and Environmental Protection Agency standards have become relatively stringent and levy heavy fines on automakers who do not reach the standard mpg norms. The aforementioned factors force automakers to develop better automobiles with superior fuel efficiency and reduced emissions. Usage of better alloys with high tensile strength in automotive components is estimated to support the growth of the global automotive window regulator market.

In many countries, governments have banned the import of used cars and increased the tariffs depending on the age of vehicles. For instance, the Poland government progressively increased vehicle tariffs according to the age of the vehicles. The average age of cars in Russia is 10 years, so consumer demand for new cars is comparatively high. The car density in Russia is around 180 and in Poland is around 328. The increase in demand for new vehicles is driving global demand in the automotive window regulator market.

The presence of key automotive manufacturers is another reason fuelling the global market for automotive window regulators during the projected period. For instance, Japan is a technologically advanced and prominent country for automotive manufacturers. The country has a presence of some of the big car manufacturers such as Honda, Toyota, Nissan, Mitsubishi, Subaru, Fuso, Hino, Daihatsu, Mazda and Lexus. Moreover, key window regulator manufacturers such as Shiroki Corporation, Brose, Technico Industries Ltd., Hi-Lex and Grupo Antolin operate in Japan, and this presence of leading automotive manufacturers is boosting the market for automotive window regulators.

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Regional analysis of the Passenger Cars segment – a growth of 1.3X in terms of volume likely to be witnessed in the Western Europe automotive window regulator market

The Passenger Cars segment is anticipated to account for about 45% value share of the North America automotive window regulator market in 2017 and is projected to hold the same market share by 2027. The Passenger Cars segment is estimated to account for more than 85% value share of the Latin America automotive window regulator market in 2017 and is projected to grow to nearly 90% by 2027. In Japan, the Passenger Cars segment is expected to account for more than 90% of the regional market by 2027 end while in the MEA regional market, the segment is expected to hold a high market share, owing to growing demand for passenger cars among consumers.

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