Market Overview
Sliding car doors are often mounted or on suspension from a track for the door, which slides for opening and closing operations. Usually, the sliding action is in the horizontal direction and towards the outside direction. Minibuses and buses often predominantly utilize these doors to provide a larger entrance or exit for passengers. These doors are useful for obstructing an adjacent pathway between vehicles and other adjoining objects. The primary driver for the global automotive power sliding door market is rising utilization within several minivans, minibuses, and light commercial vehicles combined with increasing automobile sales. Additionally, the growing adoption of luxury automobiles and the increasing integration of electric vans will further widen the market’s scope. Also, rising demand for doors that take less space while opening will further increase automotive power sliding door sales.
Key Trends
One major trend Credence Research Inc. is expected to see in automotive power sliding doors is the rising sales of electric automobiles during the forecast period. Additionally, decreasing space availability due to increasing construction costs will further drive the demand for automotive power sliding doors.
Another trend that Credence Research Inc. predicts will continue in automotive power sliding doors is rising commercial vehicle sales. Commercial vehicles have the largest market share in integrating automotive power sliding doors in trucks, semi-trucks, and vans. Commercial vehicle sales are expected to increase during the forecast period owing to the wider implementation of vehicle scrappage programs and increasing investments in infrastructure and rural development.
Economic Impact Analysis
Industries start to suffer when the economy slows down. The automotive power sliding door market report, 2017-2030, consider the predicted consequences of the economic downturn on the pricing and accessibility of the services.
Recession
According to the Credence Research Inc. market report, the recession will impact the global automotive power sliding door market. Central banks worldwide are expected to hike their interest rates in response to inflation. This hike in interest rates is not synchronic with trends that have occurred during the last five decades. This indicates that a recessive condition is expected to form in 2023. Factors such as continuous financial crises within developed and developing economies will further push the economic slowdown toward a low growth rate. Investors expect that central banks will raise global monetary policy rates to almost 4 percent throughout 2023, increasing by more than two percentage points over 2021.
Ukraine-Russia War Impact
The ongoing conflict between Russia and Ukraine began in 2014. However, Russia made unwarranted advances in February 2022 as troops entered Ukrainian territory. Since then, Russian troops and artillery barrages have led to a higher civilian loss on the Ukrainian side. The global economy is expected to further slow within the coming years as the massive and historical energy and resource shock triggered by the ongoing conflict will continue to pressure the global economies. Inflationary pressure, sapping confidence, and decreased household purchasing power will decrease the economic growth of these economies, according to OECDs latest report. This will significantly affect the automotive industry in Russia and Ukraine, thereby decreasing the sales of automotive power sliding doors within these territories.
China COVID Outburst December 2022
The COVID-19 pandemic within mainland China is part of the global coronavirus disease caused by various severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). China was the first country to experience an outbreak of the disease and implemented the most drastic measures to restrict the spread of the virus. These included stricter lockdowns and compulsory face mask mandates. At the end of 2022, China undid many restrictions that they put in place, which led to an uncontrolled outbreak in the general population. Infection rates increased in 2022, and on April 3rd April 2022, China reported more than 13,150 cases on average per day. This led to several manufacturing hubs in China slowing down or completely shutting down. Manufacturers in the automotive industry are moving their hubs outside of China to cut production losses.
Regional Analysis
In 2022, North America accounted for the largest automotive power sliding door market in revenue and sales. Factors such as the rising number of vehicles on the road and the increasing construction cost will result in a widened market scope. Also, sliding doors possess less space for opening and have easier operability. These factors will increase the market’s footprint in North America during the forecast period. The United States is expected to contribute a share to the North American region owing to rising automobile sales.
STAR Analysis
Situation
Our client was looking to expand their manufacturing capabilities towards horizontal sliding door. They already had the production capabilities to manufacture and assemble regular automotive doors.
Task
The client wanted to know the global automotive power sliding door market size and which regions held the most prominent applicable share. The client wanted to know the viable manufacturing sites that will be the most profitable to the prominent suppliers.
Action
The client got in touch with Credence Research Inc., which assisted the client in growing its business to increase its revenues in the automotive power sliding door market. The report “Global Automotive Power Sliding Door Market‘, 2017-2030,” published by Credence Research Inc. in 2023, wherein the client was presented with a complete global market study that contained the current and future market value, ongoing and historical trends, key product portfolio, and Porter’s five forces analysis.
Result
Credence Research Inc.’s thorough analysis of the automotive power sliding door market assisted the client in their understanding of the current market status. Furthermore, we presented the client with a list of viable production sites which were in tandem with the client’s current manufacturing sites.
