Global Automotive Terminal Market was valued US$ XX Bn in 2019 and is expected to grow US$ 32.91 Bn by 2027, at a CAGR of XX% during the forecast period.
Global Automotive Terminal Market
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Global Automotive Terminal Market Overview:
Automotive terminals are referred to as a connector is an electronic or electromechanical device that offers vehicles with connectivity solutions and used to connect charger with the batteries of automotive vehicles. Automotive terminals come in several sizes, specifications, and designs, they are built to withstand tough conditions and suit the variable needs of the industry. The whole functionality of vehicles depends on the appropriate operation of the electronic devices and hence each automotive wire terminals and conductors are durable and protected. Terminal designs and sizes also depend on the end-use in the automobiles.
Global Automotive Terminal Market Dynamics:
Increase in use of electronics components in vehicles, demand for electric vehicles, and government regulation about the installation of safety technologies to grow the demand for the automotive terminal market. There is a huge growth in the use of electronics components per vehicle, which influences the growth of the market in terms of value and volume. Increased concerns about energy-efficient vehicles will create opportunities in the market by increasing the demand for terminals in the vehicle. Also, the growth of autonomous and semi-autonomous vehicle will ease new revenue generation for the manufacturers in the automotive terminal market.
On the other hand, design concerns and long-term consistency feature for the high voltage terminals are major challenges in the market. The development of terminals that are used for handling vibration in vehicles will be the major concern for manufacturers.
Global Automotive Terminal Market Trends:
Growing Sales of Electric Vehicles
The sales of electric vehicles in the past few years have observed significant growth, because of the need for addressing future energy requirements. The electric vehicles market is coming up as an integral part of the automotive industry. In 2017, the global electric vehicle sales were 1 million units which were increased to 2 million units in 2018, therefore driving the growth of the automotive terminals market.
An additional factor driving the growth of the market is the growing concern of improving the safety and security of vehicles among automakers and government. Accordingly, automakers have started installing dedicated electronic control units (ECUs) at every critical level of the vehicle system, together with powertrain, steering, and braking systems. For example, the usage of ECUs, like electric power steering ECU unit and anti-lock braking systems (ABS) ECU unit has been considerably increased to around 4-5% annually, during the past three years (2016-2019). Other safety and security features, such as airbags and central-locking system, have been mostly installed in above 60% of all new vehicle sales in 2019.
Global Automotive Terminal Market Segmentation:
According to the current rating, the below 40-Ampere segment is expected to hold the highest CAGR of the global market during the forecast period. Rising equipment of electronic applications that function in the range of below 40 Ampere, like wiper motor, mirrors, and electronic fuel booster is expected to drive the growth of this segment.
Region-wise, Asia Pacific is expected to hold the largest market share in terms of value and volume by 2027, on account of development in infrastructure, increased vehicle sales, and government regulations about safety devices in the vehicles. Asia Pacific will grow at a CAGR of XX% during the forecast period followed by North America and Europe.
In October 2018, Continental announced the acquisition of Kathrein Automotive GmbH so that they can grow their connected mobility, and reinforce them in automotive antenna market. To increase the vehicle connectivity, the company is also planning to develop a high performance intelligent antenna. This acquisition will lead in growth and new innovation under connectivity solutions for automotive terminals.
In August 2018, TE Connectivity announced its acquisition of ABB’s ENTRELEC terminal block business. This acquisition will help the company to create platform in order to reduce complexity and drive innovation. By adding the ABB’s ENTRELEC terminal block offering to the company’s portfolio, the company will be able to provide complete system for signal, power and data connectivity.
The objective of the report is to present a comprehensive analysis of the Global Automotive Terminal Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Terminal Market dynamics, structure by analyzing the market segments and project the Global Automotive Terminal Market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Terminal Market make the report investor’s guide.
Scope of the Global Automotive Terminal Market: Inquire before buying
Global Automotive Terminal Market, By Current Rating
• Below 40 Ampere
• 41–100 Ampere
• Above 100 Ampere
Global Automotive Terminal Market, By Application
• Engine & Emission Control
• Safety & Security System
• Body Control & Interiors
• Lighting System
• Battery System
Global Automotive Terminal Market, By On-Highway Vehicle
• Passenger Cars (PC)
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Global Automotive Terminal Market, By Off-Highway Vehicle
• Construction Vehicle
• Agricultural Vehicle
Global Automotive Terminal Market, By Electric Vehicle
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
Global Automotive Terminal Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Automotive Terminal Market
• Viney Corporation Limited
• Keats Manufacturing Co.
• PKC Group Ltd
• FURUKAWA ELECTRIC CO., LTD
• Lear Corporation.
• Delphi Technologies
• Sumitomo Electric Industries, Ltd.
• TE Connectivity
• Shree Krishna Automotive Components
• Koopman Logistics Group
• Terminal Technologies (I) Pvt. Ltd
• BLG LOGISTICS GROUP AG & Co. KG
• IRISO Electronics CO., LTD
• Terminal Supply Co.
• Ascon Engineering Industries
• Vehicle Wiring Products Ltd
• Patel Mech India
• KOREA ELECTRIC TERMINAL CO., LTD.
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