LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive power sliding door system market to grow at a CAGR of more than 18% during the period 2018-2022, according to their latest report.
This market research report segments the global automotive power sliding door system market into the following end-users (passenger vans and cargo vans) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the increasing adoption of luxury vans by fleet operators as a key factor contributing to the growth of the global automotive power sliding door system market:
Increasing adoption of luxury vans by fleet operators
Fleet operators who provide services such as limo transportation, media network, VIP transportation, and business and telecommunication made around 91% of the luxury van purchases in 2016. The competition to attract customers is escalating with an increase in the number of fleet operators. Furthermore, heavy traffic congestions are pushing individuals to depend on fleet mobility for transportation. Mobility solutions such as car sharing or pooling services are rapidly rising and are expected to diversify the automotive industry. These data-driven services are anticipated to dominate the global automotive industry by 2025 and contribute significantly to the revenue of the global automotive market.
Owing to the growing traffic concerns, consumers are increasingly opting for such pooling services that can help them save time and money. Europe and North America are the regions that dominate the global shared mobility service market. Moreover, since automobiles are one of the major contributors of greenhouse gases, car sharing models would help curb such emissions.
According to a senior analyst at Technavio for automotive electronics, “The benefits of shared mobility services have led to the automotive governing councils and governments of different economies to emphasize the use of such services and public transportation facilities that would make the global automotive market more sustainable. All these factors are expected to push the growth of fleet operators that will encourage them to adopt more luxury services.”
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Global automotive power sliding door system market segmentation
Of the two major end-users, the passenger vans segment held the largest market share in 2017, accounting for nearly 95% of the market. However, the market share for this segment is anticipated to decrease slightly by 2022.
In terms of volume, the market was dominated by APAC that accounted for over 40% of the market. APAC was followed by the Americas and EMEA. The market share occupied by APAC is expected to increase by nearly 13% during the forecast period.
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