The automotive drawer slides market has grown significantly, rising from $6.2 billion in 2023 to $6.64 billion in 2024, with a compound annual growth rate (CAGR) of 7.1%. This growth during the historic period is driven by increasing demand for customizable drawer configurations, development of lightweight materials, growth in the furniture and cabinetry industries, demand for ergonomic and space-saving solutions, and advancements in corrosion-resistant coatings. Looking ahead, the market is expected to reach $8.77 billion by 2028, with a CAGR of 7.2%. Future growth is supported by developments in advanced materials and manufacturing technologies, rising production of electric and hybrid vehicles, focus on improving passenger comfort, and consumer preference for organized storage solutions. Key trends include the adoption of advanced materials, improvements in slide design, implementation of automated and motorized drawer systems, use of eco-friendly materials, and increasing use of lightweight components.
Major Driver In The Automotive Drawer Slides Market
The increasing demand for sustainable transportation is driving the automotive homologation service market. With rising environmental concerns and regulatory pressures, the demand for eco-friendly vehicles is growing. Homologation services ensure these vehicles meet stringent standards, facilitating market entry and consumer trust. According to a 2022 US Department of Energy report, electric vehicle sales surged by 85% in 2021, with light-duty plug-in electric vehicle sales nearly doubling from 308,000 in 2020 to 608,000 in 2021. This demand for sustainable transport is driving the homologation service market.
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Automotive Drawer Slides Market Competitive Landscape
Siemens AG, Honeywell International Inc., Parker-Hannifin Corporation, Southco Inc., Accuride Corporation, Knape & Vogt Manufacturing Company, Destaco, King Slide Works Co. Ltd., Jonathan Engineered Solutions, Thomas Regout International B.V., Monroe Engineering LLC, Sugatsune Kogyo Co Ltd, D&d Technologies LLP, Jet Press Ltd, Siso A/S, Emka SA., Del-Tron Precision Inc., Fulterer USA Inc., Tusk Direct Inc., ITW Automotive Products GmbH
Key Automotive Drawer Slides Market Trend
The automotive drawer slides market is innovating with next-generation drawer systems to enhance functionality and meet consumer demands. These advanced systems improve efficiency, safety, and user experience in automotive applications. In October 2023, DECKED of the US launched advanced drawer systems for pickup trucks, offering increased capacity, improved weatherproofing, and integrated cargo tie-downs, setting a new standard in automotive drawer slides.
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Automotive Drawer Slides Market Segmentation
The automotive drawer slides market covered in this report is segmented –
1) By Type: Aluminum Automotive Drawer Slide, Steel Automotive Drawer Slide, Stainless Steel Automotive Drawer Slide
2) By Design: Lock Out, Lock In, Pocket And Bayonet Mounting
3) By Weight: Light Duty, Medium Duty, Heavy Duty
4) By Mounting Type: Bottom Mounted, Cabinet Mounted, Drawer Mounted, Other Mounting Types
5) By Application: Fire Truck, Ambulance, Armored Security Vehicle, Other Applications
By Geography:The regions covered in the automotive drawer slides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the automotive drawer slides market in 2023, and is expected to be the fastest-growing region in the forecast period.
The Automotive Drawer Slides Global Market Report 2024 furnishes information about the global automotive drawer slides market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
