The global automotive door hinges market is expected to accumulate a valuation of US$ 4.6 billion in 2023 and is projected to reach US$ 7.9 billion by 2033, trailing a CAGR of 5.5% during the forecast period.
The rising popularity of sport utility vehicles and passenger cars is a significant factor driving the demand for Automotive Door Hinges in the market. Additionally, the adoption of mass production techniques and advanced technologies like artificial intelligence and machine learning is further propelling the automobile industry, consequently contributing to the growth of the Automotive Door Hinges market.
The increasing emphasis on driver and passenger safety is driving the demand for efficient Automotive Door Hinges systems. Moreover, technological advancements in the automotive sector have resulted in a surge in the demand for advanced tailgate hinges and bonnet hinges, which address vehicle safety and security concerns. These factors play a significant role in propelling the market for automotive door hinge systems.
Increasing urbanization and industrialization, coupled with the expanding working population’s demand for private commuting, is anticipated to drive the automotive hinges on market growth. Furthermore, the development of infrastructure on a global scale is likely to fuel the demand for commercial vehicles, which in turn may influence the demand for automotive hinges.
Government investments in public roadways transportation are expected to drive the automotive hinges market. Additionally, the introduction of electric-operated hinges is likely to boost the demand for automotive hinges on a global scale. The growing trend of customized vintage cars also presents significant opportunities for the automotive hinges market.
Key Takeaways
- The United States automotive door hinges market is expected to grow with a CAGR of 5.3% during the forecast period.
- The market in China is expected to grow with a CAGR of 5.7% during the forecast period.
- By sales channel, aftermarket is projected to grow with a significant CAGR of 5.9% during the forecast period.
- By material, the steel segment is expected to grow with a CAGR of 6% throughout the forecast period.
“The introduction of electrically operated hinges and the rising popularity of sports utility vehicles is expected to drive market growth during the forecast period”- comments an FMI Analyst
Competitive Landscape
The automotive door hinges market is highly competitive, with several key industry players investing heavily in the production of these services.
The key industry players are Dura Automotive LLC, Magna International Inc., Aisin Seiki Co. Ltd., DEE Emm Giken, ER Wagner, Midlake Products & Mfg. Company Inc., Pinnet Industrie, Monroe Hinge, Gestamp Group, Multimac Inc., Brano Group, Rell Precision Manufacturing Inc., The Paneloc Corporation, and Saint Gobain.
Key market players are leveraging organic growth strategies like acquisition, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive door hinges market.
- In January 2022, Dura Automotive Systems marked a significant milestone with the official inauguration of its advanced manufacturing facility in Muscle Shoals, Alabama.
- In August 2021, Dura Automotive Systems announced its collaboration with ALMAC Co, LTD through a joint venture agreement. The partnership aims to manufacture automotive-grade aluminum extrusions and components that will contribute to enhancing the performance of lightweight and electric vehicle modules.
- In April 2022, AISIN Group incorporated the SUV-style Battery Electric Vehicle (BEV) called “bZ4X” into its product lineup. This vehicle represents the first model of Toyota’s bZ Series.
- In May 2019, Magna International introduced the Comfort+TM door latch hinge, a solution aimed at addressing concerns related to car door opening and closing while enhancing cabin quietness. This innovative Automotive Door Hinge reduces the effort required to operate the door and ensures a smooth and consistent feel during operation.
