Automotive Key Blank Market Report 2024

The automotive key blank market size has grown strongly in recent years. It will grow from $5.06 billion in 2023 to $5.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth during the historic period can be attributed to growing vehicle ownership in urban areas, the emergence of digital keys, increasing awareness of environmental impact, the rising popularity of electric vehicles, and a growing demand for key replacements and spares.

The automotive key blank market size is expected to see strong growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to rising disposable income and demand for personalized vehicles, increased demand for electronically or remotely operated components, growing need for enhanced vehicle security, biometric and multi-factor authentication, and the use of eco-friendly materials and processes. Major trends during this period include the increasing adoption of smart keys and keyless entry systems, the rise of laser-cut keys, a stronger focus on vehicle security, integration with smartphones, and continuous technological advancements and innovations.

The anticipated increase in vehicle ownership is set to drive growth in the automotive key blank market. The growing adoption of vehicle ownership is fueled by rising personal mobility needs and economic factors favoring vehicle ownership as a preferred mode of transportation. Automotive key blanks play a crucial role in creating duplicate or replacement keys customized to fit specific vehicles, ensuring secure access and operation. For example, the Society of Motor Manufacturers & Traders (SMMT) reported in June 2024 that car registrations in the UK rose to 1,006,763 in 2024 from 949,720 in 2023, reflecting a 6% increase in sales. Thus, the expansion of vehicle ownership is a key driver of growth in the automotive key blank market.

Leading companies in the automotive key blank market are focusing on developing advanced products featuring state-of-the-art chipset technology to offer enhanced and convenient solutions to customers. State-of-the-art chipset technology refers to advanced electronic components that enable secure access and functionality, often incorporating features such as encryption and wireless communication. For instance, Keydroid, an India-based provider of super luxury automotive accessories, launched the Gold Edition Tron Smart Key in March 2024. This limited-edition luxury car accessory is designed for automotive enthusiasts and includes an integrated original Apple tracker chip for effortless vehicle tracking via the Find My app on iOS devices. It also features enhanced touch sensitivity, higher resolution, and a swipe-up lock screen for optimal user interaction. The key offers customization options, allowing owners to personalize it with their signature, brand logo, name, or vehicle number.

In March 2021, Automotive Keys Group (AKG) LLC, a US-based provider of specialty automotive products, acquired Midwest Keyless Inc. This acquisition enhances AKG's presence in wholesale and locksmith sales channels and adds a highly skilled and dedicated team to its organization. Midwest Keyless Inc., based in the US, specializes in remanufacturing and distributing replacement original equipment manufacturing and aftermarket keyless entry remotes and keys, as well as key-cutting and programming equipment.

Major companies operating in the automotive key blank market are Dormakaba International Holding AG, Huf Group, JMA USA, Kaba Ilco Corp, Hy-Ko Products Co., Curtis Industries LLC, Hudson Lock LLC, Edoardo Bianchi S.p.A., SparkMinda, Keyline Technologies Private Limited, Axxess Industries Inc., Silca S.p.A., Goto Manufacturing Inc., Jet Hardware Manufacturing, Taylor security&Lock Co. Inc., Key Craze Inc., Best Access Systems, Engineered Security Products (ESP) Inc., Xhorse Co., Transponder Island Inc., Guangzhou Xuanhua Hardware Product Co. Ltd.

Asia-Pacific was the largest region in the automotive key blank market in 2023. The regions covered in the automotive key blank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive key blank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An automotive key blank refers to a raw key that has not been cut or programmed to fit a specific vehicle, serving as a template for creating a new car key. Key blanks are manufactured to match the keyway and shape of particular vehicle models, enabling locksmiths to cut them to the correct specifications based on the vehicle's lock mechanism.

The main types of automotive key blanks include metal head automotive key blanks and transponder technology automotive key blanks. Metal head automotive key blanks are uncut keys with a metal head used in vehicles, which can be cut and programmed to match specific car locks. These key blanks are made from materials such as brass, nickel silver, and others, suitable for various vehicle types including compact cars, mid-size cars, SUVs, luxury cars, LCVs, and HCVs. They are sold through channels such as original equipment manufacturers (OEM) and the aftermarket.

The automotive key blank market research report is one of a series of new reports that provides automotive key blank market statistics, including the automotive key blank industry's global market size, regional shares, competitors with an automotive key blank market share, detailed automotive key blank market segments, market trends and opportunities, and any further data you may need to thrive in the automotive key blank industry. This automotive key blank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive key blank market consists of sales of smart key blanks, high-security key blanks, and transponder key blanks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.