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Major factor driving growth of the global bonnet lock plate and latch market is increasing automotive production across the globe. In addition, rising number of auto thefts due to low quality locks in vehicles is expected to support growth of the global bonnet lock plate and latch market.

The global bonnet lock plate and latch market is segmented on the basis of material type, distribution channel, and region.

The material type segment in the global bonnet lock plate and latch market is segmented on the basis of stainless steel, carbon fiber, and aluminium. The stainless steel segment is expected to contribute significant revenue share in the global market.

The distribution channel segment in the global bonnet lock plate and latch market is segmented on the basis of OEM and aftermarket. The stainless steel segment is expected to contribute significant revenue share in the global market.

On the basis of region, the global bonnet lock plate and latch market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

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The bonnet lock plate and latch market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to increasing vehicle production in countries such as India and China, and presence of major manufacturers in countries in the region. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to presence of major vehicle manufacturers operating in economies in this region.

Key players operating in the global bonnet lock plate and latch market include Stanzen Engineering PVT. Ltd., Strattec Security Corporation, IFB Automotive Private Limited, Shivani Locks PVT. Ltd., Johnan America Inc., Flex-N-Gate Corporation, Canara Auto Parts, Aditya Auto, Sanatan Autoplast Private Limited, and Metalplast-Soprana.

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