Market Size –
The motor vehicle electrical and electronic equipment market size has grown strongly in recent years. It will grow from $186.73 billion in 2023 to $203.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to rise of the automobile industry, electrification of vehicle functions, consumer electronics integration, regulatory requirements, advancements in computer technology.
The motor vehicle electrical and electronic equipment market size is expected to see strong growth in the next few years. It will grow to $288.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, autonomous vehicles, connectivity and iot integration, environmental regulations, electrification of commercial vehicles. Major trends in the forecast period include advanced driver assistance systems (adas), cybersecurity in vehicles, vehicle-to-everything (v2x) communication, electrification of auxiliary systems, user interface and human-machine interaction.
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Scope Of Motor Vehicle Electrical and Electronic Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Motor Vehicle Electrical and Electronic Equipment Market Overview
Market Drivers –
The motor vehicle electrical and electronic equipment market is driven by the increase in the demand for safer vehicles equipped with electrical and electronic safety equipment to minimize the risk of road accidents. The rise in the number of accidents is a result of reckless driving, overspeeding, a decline in following traffic rules, and drunken driving. Electrical and electronic systems such as anti-lock braking systems (ABS) increase the safety of the vehicle by preventing wheels from locking up during a fast-breaking process. For instance, NHTSA (National Highway Traffic Safety Administration) estimates that 8,730 people died in motor vehicle crashes in the first three months of 2021 in its most recent report, Early Estimate of Motor Vehicle Traffic Fatalities. This figure was up by 10.5% as compared to the 7,900 fatalities projected by the agency for the first quarter of 2020. Hence, the Global New Car Assessment Programme (Global NCAP) has initiated a goal of the UN Decade of Action for Road Safety and also established new goals for 2030 to avoid these road crashes and maintain safety. The demand for vehicles that are less prone to accidents has a positive impact on the growth of the motor vehicle electrical and electronic equipment market.
The motor vehicle electrical and electronic equipment market covered in this report is segmented –
1) By Product Type: Lighting Equipment, Automatic Voltage And Voltage-Current Regulators, Insulated Ignition Wiring Sets, Generators For Internal Combustion Engines, Spark Plugs For Internal Combustion, Other Product Types
2) By Vehicle Type: Two-Wheelers, Passenger Cars, Commercial Vehicles
3) By Vehicle Class: Mid-Priced, Luxury
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Regional Insights –
Asia-Pacific was the largest region in the motor vehicle electrical and electronic equipment market in 2023. Western Europe was the second largest region in the motor vehicle electrical and electronic equipment market. The regions covered in the motor vehicle electrical and electronic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the motor vehicle electrical and electronic equipment market include Bosch Limited, General Motors Corporation, Tenneco Inc., DENSO Manufacturing Tennessee Inc., Delphi Technologies Inc., Hyundai Motor Company, Hella GmbH & Co. KGaA, Technitrol Delaware Inc., Ford Motor Company, Honeywell International Inc., Mars Incorporated, Raytheon Technologies Corporation, ZF Friedrichshafen AG, ITT Inc., Textron Inc., Cummins Inc., Infineon Technologies AG, Hitachi Ltd., HGM Automotive Electronics, Delta Electronics, Atotech Deutschland GmbH & Co. KG, JTEKT Corporation, Knorr-Bremse AG, Nexteer Automotive Group Limited, thyssenkrupp AG, Magna International Inc., Aisin Seiki Co. Ltd., Continental Automotive Systems Inc., Asama Coldwater Manufacturing Inc., Global Steering Systems LLC, Maval Industries LLC, American Showa Inc., Atsco Remanufacturing Inc., KYB Americas Corporation, Raytech Powertrain LLC
Table of Contents
1. Executive Summary
2. Motor Vehicle Electrical and Electronic Equipment Market Report Structure
3. Motor Vehicle Electrical and Electronic Equipment Market Trends And Strategies
4. Motor Vehicle Electrical and Electronic Equipment Market – Macro Economic Scenario
5. Motor Vehicle Electrical and Electronic Equipment Market Size And Growth
…..
27. Motor Vehicle Electrical and Electronic Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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