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Automotive Ignition Lock Cylinder Market Segmented By material type such as Heavy-duty Die Cast Metal, Stainless Steel with sales channel type such as Aftermarket, OEM
The Automotive Ignition lock cylinder is an electromechanical component used for starting a vehicle by using the ignition key and normally mounted inside the ignition switch consists of main parts such as pins and tumblers which ensure that only correct key operate the vehicle. The material used for automotive ignition lock cylinder is heavy-duty die cast metal makes component superior and durable.
The automotive ignition lock cylinder is a vital part of ignition switch system to turn on and off the engine ignition as well as functions like operations of light, interior functions and also used as anti-theft device for vehicle. Automotive Ignition lock cylinder mainly operates in four positions - unlock the steering wheel, power on the vehicles accessories, turn on the vehicle fuel system, and to start or crank the engine.
In the recent scenario, two wheeler holds the significant share of the automotive ignition lock cylinder market as compared to passenger cars and commercial vehicles automotive ignition lock cylinder market. Moreover, automotive OEMs are more inclined towards the push button ignition switch system. Subsequently, impacting the demand for automotive ignition lock cylinder. Automotive Ignition lock cylinder market is mostly driven by total vehicle-in-use which is after sales channel.
In recent years, the automotive industry has gained significant growth due to continuous globalization. The global automotive industry drives the demand in the automotive ignition switch segment which is a parent market for automotive ignition lock cylinder. Subsequently, set to witness the momentous demand for the automotive ignition lock cylinder.
The automotive technology is undergoing a significant improvement in the technological front in the user focused components and automotive security, where the traditional system which is cylinder and key starting systems are being substituted by keyless push-button ignition systems.
While, many newly launched vehicles are now being manufactured with keyless and push button power starting system, market entrants are moving to claim their share in the emerging automotive marketplaces. An automotive component manufacturer having an opportunity to manufacture automotive ignition lock cylinder which expected to growth in after sales channel due to effect of implementation of new trends and developments into automotive ignition switch system.
In Automotive ignition lock cylinder market, total demand is decreasing day by day in the passenger cars segment due to the employment of push lock button ignition system which is projected to adversely affect the demand of automotive ignition lock cylinder. However, commercial vehicle and two-wheeler ignition lock cylinder are set to retain the market share.
In this segments, Adoption of new trends in the automotive ignition lock cylinder expected to take a time to emerge with recent trends and developments. Furthermore, the increasing demand for electric and hybrid vehicle expected to adversely affect the growth of automotive ignition lock cylinder market.
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In Automotive component manufacturing segment, China being the market leader, is expected to remain the dominant regional market in the forthcoming years, maintaining a steady growth in the automotive ignition lock cylinder market. In recent years, emerging and developing economies such as China, India are experiencing huge population growth and are estimated to have largest share of vehicle use resulting in momentous demand in the automotive ignition lock cylinder market.
European nations such as Germany, Italy projected to steady growth in the automotive ignition lock cylinder market. The expected demand of the automotive ignition lock cylinder market in Africa and the Middle East region is expected to be slow-moving remained to low automotive manufacturing. However, many auto-makers from the U.S., Germany, and Italy are adopting emerging and developing trends such as push button ignition in the passenger car to impact the demand.
List of some of the prominent market participants in the automotive ignition lock cylinder market are as follows: