China Automotive Lock Market - New Market Research Report Published: #Radiant Insights, Inc
According to China Automotive Lock Industry Report, 2014-2017 released by Sino Market Insight, we project that in 2014-2017 Chinese automotive lock market will present an AAGR of 8.5%-9%, with the total production expected to exceed 130 million units by 2017.
With the rapid development of China's automobile market, the production of automotive locks there showed a steady growth, with the 2013's production in China totaling 95.231 million units, up 14.8% on a year-on-year basis. This growth rate was virtually consistent with that of the vehicle production in China. Due to the fact that automotive lock industry, especially the products such as the vehicle door locks, trunk locks and fuel tank cap locks, has a relatively low requirement on the technologies for product development and production, the production of automotive locks in China could save production costs, especially those of labor and materials. At present, most vehicle manufacturers, whether independent auto brands or joint-venture brands, choose to produce and assemble vehicle door locks in China.
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In terms of central locking and remote control key products, automotive central locking and remote control key market in China continued steady growth in 2013, with the proportion of central locking and remote control keys assembled in passenger vehicles rising from 86.6% and 80.4% in 2012 to 89.6% and 83.5% in 2013, respectively. Driven by the trend of vehicle intelligentization, central locking and remote control keys have become the standard configuration for the high and medium-end models and even some low-end models. We predict that by 2020 almost all the passenger cars will be equipped with central locking and remote control keys.
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In terms of keyless entry devices, the proportion of passive keyless entry (PKE) system installed in passenger cars in China reached 22.1% in 2013, with the keyless entry systems assembled for the full year totaling roughly 3,994,481 sets, up 2.2 percentage points from 2012. As automotive keyless system imposes higher requirements on vehicle anti-theft system and vehicle recognition system, only a few high and medium-end car models of some brands take them as standard or optional devices. On the other hand, as for the application of passive keyless entry (PKE), some Chinese automakers like BYD have taken the lead in the market. Except a minority of low-configuration F3 models that have not used the system, other models are all equipped with standard PKE system.
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