Automobile Tailgate Locks Market Size, Share, Growth, and Industry Analysis, By Type (Electric Lock & Non-electric Lock), By Application (Passenger Vehicle & Commercial Vehicle), and Regional Insights and Forecast to 2032

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AUTOMOBILE TAILGATE LOCKS MARKET OVERVIEW

The Automobile Tailgate Locks Market size was valued at approximately USD 0.9 billion in 2023 and is expected to reach USD 1.6 billion by 2032, growing at a compound annual growth rate (CAGR) of about 6.5% from 2023 to 2032.

Automobile Tailgate Locks Market is about locks specifically meant for securing and controlling open and close functions of automobile tailgates. Such a market is spurred on by factors such as higher consumers’ awareness of the security needs of their vehicles, higher automotive manufacturing, and constant innovations in the locks. The market is currently experiencing high donor interest in unlockable and keyless locking solutions, and this is particularly forcing advancement in innovation, notably in SUVs and light commercial vehicles. This market is driven by increasing consumer demand for vehicle security, rising automotive production, and technological advancements in locking mechanisms. With growing interest in automated and keyless locking solutions, the market is witnessing significant innovation and expansion, especially in SUVs and light commercial vehicles. The automobile tailgate lock market is projected to witness steady growth in demand as producers focus on developing better quality products in order to address new demands.

COVID-19 IMPACT

"Automobile Tailgate Locks Industry Had a Negative Effect Due to COVID-19 Disruptions"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing Lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Automobile Tailgate Locks Market headed a downfall due to the global COVID-19 pandemic, which also stopped automobile production and distorted supply chain. Restrictions from lockdown and low customer spending impacted negatively on car sales, which in turn affected the market for the tailgate locks. Other factors of constraint included disruptions in manufacturing industries and holdups in the supply chain that affected the growth rate, though moderate during the pandemic period.

LATEST TREND

"Market is growing due to automation"

One of the key trends in the global automobile tailgate lock market growth is the shift toward keyless and automated tailgate lock systems, most probably due to the rising demand for functionality in vehicle interiors. Manufacturers are including smart locking solutions to work in conjunction with a car key fob or a smartphone. Also, there has been increased development of structures and other equipment made from lighter materials and using efficient energy consumption concepts. More so, the major goal of automation is further improving the user friendliness of the operation, especially the tailgate one.

AUTOMOBILE TAILGATE LOCKS MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Electric Lock & Non-electric Lock

• Electric Lock: They are electrically operated, which means that they receive their power from the electrical system of the vehicle and offer easy, controlled door unlocking systems usually associated with keyless entry. These locks improve the security of your car by automatically locking when the car is turned off and support for smartphone apps. Their usage is on the rise as car makers continue seeking ways to integrate ever more automation and user convenience into the vehicles.

• Non-electric Lock: Consequently, tailgate locks that are not electric in nature are manual; normally they come with mechanical keys or levers, which many people appreciate for their proven efficiency. Intentionally, they are installed in vehicles of older models or vehicles of low cost segments where fuel economy is given paramount importance. These locks may not have enough automation; however, they are durable and very good at preventing what is known as ‘tailgating’.

By Application

Based on application, the global market can be categorized into Passenger Vehicle & Commercial Vehicle

• Passenger Vehicle: In car models that are used for transporting passengers, tailgate locks are frequently developing into comfort and convenience products that are either fitted with automatic systems or controlled remotely. It meets the increasing customer expectations of safety and convenience in current trends, especially for SUV and hatchback vehicles, with the regular use of boots. The vehicles’ advanced tailgate locking characteristics also play a big role in increasing the vehicles’ overall safety and the comfort of their users.

• Commercial Vehicle: Security locks in tailgates of commercial automobiles are designed mainly to offer superior safety to the cargo from theft and for safe carriage. These locks are intended for high-level utilization. This is because commercial applications such as delivery vans or light trucks, among others, impose high usage of the locks. Almost every application has a focus on reliability and durability, and where viable, both electric and manual solutions are employed depending on operational circumstances and application type.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Market growth is driven by demand for advanced vehicle security"

Growing awareness about safety features and security of the vehicles is contributing to the enhancement of the advanced tailgate locks. Auto consumers are now calling for better lock systems to protect cargo space, most especially in SUVs and trucks. The constant efforts being made to improve the security systems of vehicles are one key driver of this market.

"Market growth is driven by demand for electric tailgate locks"

New car designs to include features like automated door systems and computerized keyless entry are creating a higher market for electric tailgate locks. These features bring a sense of better convenience and are in synthesis with the connected vehicle concept. Therefore, smart locking systems are manufactured by manufacturers to meet the needs of technologically savvy clientèle which resulting automobile tailgate lock market growth.

Restraining Factor

"Market growth is restrained by high costs of advanced locks"

They add that electrical and automated tailgate locks offer added advantage and added cost, which is therefore a major factor restraining the market. Technological products, including sophisticated keyless entry systems and smart locking solutions, are usually costly; their use is primarily observed in higher classes of vehicles. This cost barrier is another problem that does not allow the manufacturers to attract price-sensitive customers in low-end segments.

Opportunity

"Market growth is fueled by demand for smart vehicle integrations"

Automobile Tailgate Locks Market to experience good growth due to the rise in the demand for connected and smart vehicles. Thus, tailgate lock can be connected to other overall vehicle control systems like IoT connectivity, smartphone connectivity, etc., and provide the best experience for customers and better security. This integration can pull in tech-savvy customers, a way of expanding the market for electric and high-tech vehicles.

Challenge

"Market growth is hindered by supply chain disruptions and costs"

The automobile tailgate lock market has been tested with high risks due to disruptions of the value chain and the scarcity of crucial electronic parts. Some of the reasons include the rise of geopolitical tension issues and reliance on certain zones for the sourcing of parts. Not only does it raise manufacturing costs, but it also hampers the timely delivery of products to target markets, which are crises that slow market growth.

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AUTOMOBILE TAILGATE LOCKS MARKET REGIONAL INSIGHTS

• North America

"Market growth in North America is driven by SUV demand"

North America is leading the global automobile tailgate lock market owing to the increased popularity of SUVs and trucks over the past several years coupled with demand for advanced safety and security systems for automobiles in the region. With heavy manufacturing activity in the production of passenger and commercial vehicles coupled with the growing demand for smart locking systems, the United States automobile tailgate lock market continues to bolster the dominance of North America in the global market. The US focus on car development and customer preference for easy access to goods contribute to the expansion of the market.

• Europe

"Market growth in Europe is driven by safety and innovation"

Europe holds remarkable automobile tailgate lock market share due to high safety standards and emphasis on the improvement of automobiles therein, including tailgate locks. The rise of more EVs in the area compels the development of advanced methods of tailgate locking, especially those supported by smart products. Also, the European automotive production industry is well developed; it provides incentives for the development of new technologies, including the release of new lock designs. Concerns of sustainability and environmental consciousness are also forcing changes in the design and production styles of the tailgate locks in the European market.

• Asia

"Market growth in Asia is driven by rising vehicle production"

Continued growth of automotive industries in Asia, more especially in China, Japan, and India, is also an area through which Asia participates in the automobile tailgate lock market. A growing number of vehicles produced across the region and improving ID of consumers are the key trends fostering popularity of new tailgate locking systems. Additionally, the new EVs and smart technologies markets are setting the pace in the development of advanced locks. Furthermore, the localization of significant automotive producers in Asia raises competition and promotes the production of affordable and safe tailgate solutions.

KEY INDUSTRY PLAYERS

"Market growth is supported by R&D investments in tailgate locks"

Prominent industry players are being more active in funding the R&D to enhance value-added automobile tailgate locks for lock systems. The emphasis on the intelligent installation of newly developed keys that turn the car on through the use of sensors and connectivity with the Internet of Things increases both security and the ease of the car’s usage. Other opportunities also help to advance the market by extending partnerships with automotive producers, guaranteeing durable, reliable tailgate locking systems.

List of Top Automobile Tailgate Locks Companies

• Brose Fahrzeugteile GmbH & Co. (Germany)
• Inteva Products LLC (US)
• Magna International Inc. (Canada)
• KiekertAktiengesellschaft (Germany)
• Minda Vast Access Systems Pvt. Ltd. (India)

KEY INDUSTRY DEVELOPMENTS

July 2023: Aisin Seiki Co., Ltd. unveiled its advanced smart tailgate lock system, integrating keyless entry and enhanced security features, to meet the increasing demand for innovative automotive technologies.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

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