Automotive OEM Key Market | Industry Analysis Report, 2027
The global Automotive OEM Key market gathered revenue around USD 290 Million by the end of 2027 and is estimated to expand at a modest CAGR of 2.7% during the prediction period 2021 to 2027.
Growth Factors:
Rise in the purchasing power of the global population has fueled the sales of vehicles, thus boosting automobile production activities. This increase in automobile production has subsequently propelled the demand for automotive key solutions from automakers, thereby driving the automotive OEM key market across the globe. On-going changes in the automotive sector, along with growing popularity of autonomous vehicles and shared mobility services, have transformed the traditional approach of vehicle security solutions from physical keys to virtual keys, which are stored in the smart devices of vehicle owners. This is negatively impacting the automotive OEM key market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive OEM Key market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive OEM Key market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 290 Million by 2027 |
| Growth Rate | CAGR of 2.7% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Key Material, Vehicle Type, Technology, Key Type And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Altuna Group, Chiavit (Tornado Group), Continental AG, Credit Card Keys, dormakaba Holding, Garin System Co. Ltd, Hangzhou Zhengdian Technology Co., Ltd., Heights Security, Inc., LOCKMASTERS INCORPORATED, Mitsubishi Electric Corporation, One-Tool Co., Limited, QINGDAO EVERISE INT'L CO., LTD., Qinuo Electronics Co., Ltd., Runking Technology Co., Ltd, Sakthi Industries, Spark Minda. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Automotive OEM Key market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Expansion of Automotive OEM Key Market
Advancements in microelectronics and connectivity technologies are leading to the development of vehicle keys with advanced security features, such as biometric scanning, which are capable of performing multiple functions. For instance, in August 2020, KIA Corporation announced that its new Sorento vehicle model would be equipped with the remote smart parking assist feature that can be controlled through the key fob. Such keys enhance the customer experience and hence, they are expected to propel the global automotive OEM key market in the near future. Based on technology, the remote keyless entry system segment held a dominant share of the global automotive OEM key market in 2019. It is anticipated to expand at a notable CAGR during the forecast period, owing to their high ease of operation. The remote keyless entry system enables the consumer to open the doors and start the vehicle without inserting the key, thus creating convenience in operation, which has contributed towards its popularity.
Challenges for Automotive OEM Key Market analysis:
COVID-19 pandemic disrupted majority of industries across the globe due to the forced shutdown of manufacturing and trade activities. This caused disruption in supply chains of the automotive sector, thus hampering its growth. Moreover, the demand for new vehicles has reduced, as people are restraining themselves from spending money on non-essential products and services. These factors have lowered the demand for automotive keys from OEMs.
Emergence of virtual or digital key solutions that are stored in smartphones or wearable devices of customers is decreasing the demand for traditional key solutions, which, in turn, restrains the global automotive OEM key market
Automotive OEM Key Market Segmentation analysis:
The global automotive OEM key market has been segmented based on key material, technology, key type, vehicle type, and region
Based on key type, the smart key segment held a dominant share of the automotive OEM key market in 2020. High level of security, flexibility in operation, and multiple functionalities offered by these smart keys are propelling the smart key segment of the global automotive OEM key market.
Based on vehicle type, the passenger vehicles segment held a significant share of the global automotive OEM key market. Rise in demand for passenger vehicles has boosted their production worldwide. This growing production of passenger vehicles is driving the passenger vehicles segment of the global automotive OEM key market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Automotive OEM Key Market include: Altuna Group, Chiavit (Tornado Group), Continental AG, Credit Card Keys, dormakaba Holding, Garin System Co. Ltd, Hangzhou Zhengdian Technology Co., Ltd., Heights Security, Inc., LOCKMASTERS INCORPORATED, Mitsubishi Electric Corporation, One-Tool Co., Limited, QINGDAO EVERISE INT'L CO., LTD., Qinuo Electronics Co., Ltd., Runking Technology Co., Ltd, Sakthi Industries, Spark Minda
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Market: Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Automotive OEM Key market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Automotive OEM Key market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Automotive OEM Key markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Automotive OEM Key market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive OEM Key Market, By Key Material
7.1. Automotive OEM Key Market, by Key Material, 2021-2027
7.1.1. Metal & Alloy
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Carbon Fiber
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Automotive OEM Key Market, By Vehicle Type
8.1. Automotive OEM Key Market, by Vehicle Type, 2021-2027
8.1.1. Two and Three Wheeler Vehicles
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Passenger Vehicles
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Commercial Vehicles
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Automotive OEM Key Market, By Technology
9.1. Automotive OEM Key Market, by Technology, 2021-2027
9.1.1. Conventional Key Entry System
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Remote Keyless Entry System
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Automotive OEM Key Market, By Key Type
10.1. Automotive OEM Key Market, by Key Type, 2021-2027
10.1.1. Traditional Key
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Master Key
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Transponder Key
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Switchblade Key
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Valet Key
10.1.5.1. Market Revenue and Forecast (2016-2027)
10.1.6. Smart Key
10.1.6.1. Market Revenue and Forecast (2016-2027)
Chapter 11.Global Automotive OEM Key Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.1.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.2.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Key Material(2016-2027)
11.2.6.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.3.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.4.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Key Type (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Key Material (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Key Type (2016-2027)
Chapter 12. Company Profiles
12.1. Altuna Group
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Chiavit (Tornado Group), Continental AG
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Credit Card Keys
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. dormakaba Holding
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Garin System Co. Ltd
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Hangzhou Zhengdian Technology Co., Ltd
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Heights Security, Inc.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. LOCKMASTERS INCORPORATED
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Mitsubishi Electric Corporation, One-Tool Co
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Limited
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers