Automotive OEM Key Market Size, Share, Forecast Report 2021-2030
The global Automotive OEM Key market is expected to grow at a CAGR of around 2.3% over the forecast period 2020 to 2030 and expected to reach the market value of around US$ 279 Million by 2030. 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 reportaids in comprehendingmarket structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-downimpact 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 dissimilaracross various industry verticals. The research reportofferspresent 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-lastingtactics for recovery and by region.
Automotive OEM Key market report empower 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 accomplish 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.
Regional Analysis of Automotive OEM Key Market
In terms of region, the global automotive OEM key market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive OEM key market in 2019. Rise in per capita income of the population coupled with rapid industrialization in the region has inflated the demand for passenger as well as commercial vehicles. This high demand, along with lucrative government policies and inexpensive labor has attracted numerous automakers to establish their production facilities in Asia Pacific. This growing presence of major automakers has boosted the sales and production of vehicles in Asia Pacific, thus fueling the automotive OEM key market in the region.
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.
Significant Market Participants Operational in the Automotive OEM Key Market are:
The global 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, STRATTEC SECURITY CORPORATION, and TSNEW TECHNOLOGY CO., LIMITED.
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 includingproduct 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 2030 and covers subsequent region in its scope:
Global Automotive OEM Key Market: Segmentation
- Automotive OEM Key Market, by Key Material
- Metal & Alloy
- Carbon Fiber
- Automotive OEM Key Market, by Vehicle Type
- Two and Three Wheeler Vehicles
- Passenger Vehicles
- Commercial Vehicles
- Automotive OEM Key Market, by Technology
- Conventional Key Entry System
- Remote Keyless Entry System
- Automotive OEM Key Market, by Key Type
- Traditional Key
- Master Key
- Transponder Key
- Switchblade Key
- Valet Key
- Smart Key
By Regional Outlook
- United States
- United Kingdom
- Rest of EU
- Southeast Asia
- Rest of APAC
Central & South America
- Rest of Central & South America
Middle East and Africa
- North Africa
- South Africa