The global Side Guard Door Beams Market Size was analyzed by Market Research Future (MRFR) and it was projected that a decent CAGR of 5.10% will be attained by the market over the forecast period of 2017 to 2023. The valuation of the Side Guard Door Beams Market Size was further stated to surpass its previous valuation by the end of the forecast period.
The global Side Guard Door Beams Market Size is expected to grow during the forecast period due to a number of identified factors. This includes the imperative need for safety, awareness concerning vehicle safety, favorable government regulations, and the consistent growth of the automotive industry. The growth of the global Side Guard Door Beams Market Size is directly linked with the growth of the automotive industry. The proliferation of the former is expected to drive the growth of the latter in the coming years.
The global Side Guard Door Beams Market Size has been segmented in terms of type and application.
By type, the market segments into aluminum car side beam, steel car side beam, and plastic car side beam. The steel car side beam segment holds the leading position in the global Side Guard Door Beams Market Size and is expected to maintain its standings in the coming years. This is due to its primal feature of adding stability to the door frame and the fast-paced expansion of the steel industry across the globe.
By applications, the market is divided into rear and front door. The front door segment held the highest share of the global Side Guard Door Beams Market Size back in 2016 and is expected to remain the same over the forecast period. The segment stood at a valuation of USD 2,506.9 million in 2016, however, it is projected to reach USD 3,433.5 million by the end of the forecast period.
The global Side Guard Door Beams Market Size is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The Asia Pacific region leads the global side guard door beams and is anticipated to grow at a rapid pace during the forecast period to remain at the top of the standings. The growth of the regional market is due to the booming expansion of the steel industry across developing countries like India and China. In recent years, a massive rise has been seen in the number of component manufacturers, resulting in the increasing usage of side guard door beams in this region. The automakers in China are reportedly said to be developing new and trade-friendly regulations and policies that would allow them to produce a large pool of vehicles. The increasing number of vehicle production will subsequently result in the growth of the Side Guard Door Beams Market Size in Asia Pacific over the forecast period. Back in 2016, the Asia Pacific held more 39% of the global shares and stood at a market valuation of USD 1,794.3 million. However, the regional market is slated to grow during the forecast period at a predicted CAGR of 5.61%.
Following Asia Pacific, North America stands second in the global Side Guard Door Beams Market Size and is anticipated to maintain the same in the forthcoming years. This is due to the increasing demand of new vehicles and an increasing sales percentage of passenger cars. The increasing sales volume of vehicles is expected to subsequently drive the use and demand for side guard door beams. This is, in turn, expected to boost the growth of the North American market during the assessment period.
The global Side Guard Door Beams Market Size comprises a host of key players. This includes names like Kirchhoff Automotive Gmbh (Germany), Benteler automotive (Minchigan), Arvin Sango, Inc. (Japan), GNS America (U.S.), H-One Co. ltd (Japan), IFB Automotive Pvt Ltd (India), KVA Stainless (North America), AISIN Takaoka Co., Ltd (Japan), Founder Land (China), Gestamp (Madrid Spain), and others.
March 2019, Vivint Smart Home is expanding its services into the automobile industry with a new service called the Vivint Car Guard. The guard comprises of a gadget that plugs into the on-board diagnostic port of a car.
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