Albany, NY -- (SBWIRE) -- 09/13/2018 -- The door panel is a nonstructural component hinged on a vehicle's frame to permit entry and exit of occupants in a vehicle. These panels holds various parts such as armrest, door knobs, lights, and switches. Door panels of luxury vehicles have high value interior trims to improve esthetics.
Rise in demand for luxury vehicles is expected to boost the demand for door panels. Europe and North America being high developed region have witnessed the highest sales of luxury vehicles. Wealth expansion in Asia Pacific is fueling the demand for luxury vehicles. This, in turn, is boosting the demand for door panels for luxury vehicles. In 2017, China accounted for more than 32% of the global luxury vehicle sales. India is witnessing rapid economic growth and thus, is expected to emerge as a lucrative market for door panel for luxury vehicle. Rise in demand for comfort and luxury is also expected to boost the door panel market for luxury vehicle. Rise in competition among automakers for product differentiation is projected to increase the demand for door panel for luxury vehicles. Advancements in mechatronics and electronics and their adoption in vehicles are expected to boost the door panel market for luxury vehicle. Door panels have been developed for being remotely operated using sensors, thus serving as a reliable and compatible solution for customers
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Stringent emission regulation norms by regulatory bodies are compelling automakers to resort to light weighting components to reduce emissions and improve fuel efficiency. Plastic composite materials are lightweight and are increasingly used in door panels of luxury vehicles. Plastic composites reduce the weight of the vehicle and provide structural rigidity and stability. The global auto sector is increasing the adoption of green technology, thus the demand for lightweight door panels for luxury vehicles is projected to increase.
The door panel market for luxury vehicle is a niche market and is driven by the sales of luxury vehicles. Therefore, the market has limited scope in developing countries.
The global door panel market for luxury vehicle can be segmented based on technology, vehicle, material, and region. In terms of technology, the door panel market for luxury vehicle can be divided into conventional door panel, power sliding door panel, soft close door panel, and retractable door handle. Demand for soft close door panel and retractable handle type is anticipated to increase due to their high comfort.
Based on vehicle, the door panel market for luxury vehicle can be bifurcated into passenger vehicles and commercial vehicles. High demand for luxury passenger vehicles is expected to drive the door panel market for luxury vehicle.
In terms of material, the door panel market for luxury vehicle can be categorized into steel, aluminum, and plastic composites. High demand for light weighting is expected to boost the plastic composite segment.
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Based on region, the door panel market for luxury vehicle can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to emerge as a leading market due to the rise in demand for luxury vehicles in the region.
Key players operating in the global door panel market for luxury vehicle include Aisin Seiki Co., Ltd., Automotive Systems, LLC, Faurecia SA, Magna International Inc., Brose Fahrzeugteile GmbH & Co. KGDura, Continental AG, and Johnson Electric.