Automotive Fuse Boxes Market: Automakers’ Shift from IC Engines to Power-driven Motors to Impact Growth || Key Players: Littelfuse, Inc, Cooper Industries, LEONI Wiring Systems, MTA advance automobile Solution

A recent Fact.MR study foresees the automotive fuse boxes market to showcase a modest 4.6% value CAGR between the period of forecast 2018 and 2028. Over 391,500 thousand units of automotive fuse boxes are envisaged to be sold globally by 2028-end.

Rise in consumer preferences for electro-mechanical, electrical, and electronic functions in vehicles has led innovations in design & operation of relevant power systems. Pervasiveness of fuse boxes, as the only solution of circuit protection in automobiles, continues to prevail. In light of these factors, worldwide sales of automotive fuse boxes are likely to bring in approximately US$ 4,900 Mn revenues by 2028-end, according to a new Fact.MR study.

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North America continues to endure as fast-expanding market for automotive fuse boxes, in terms of both value and volume. Automotive fuse boxes in North America will be influenced by new facilities being installed by leading automakers such as BMW, Toyota Motor Corp. and Volvo Cars. Supported largely by robust exports from North America, this boom in the automotive industry will push production rate higher in the near future, albeit domestic sales have showcased a slight decline since the recent past.

Future of the automotive component industry in North America will also be impacted by the outcome of NAFTA negotiations, which have grown increasingly fraught recently, thereby posing a direct influence on the automotive fuse boxes market in the region. Although the automotive fuse boxes market in North America will grow at a relatively higher rate vis-à-vis Europe, revenues from the latter will remain significantly larger over the period of forecast.

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The need to avoid uncontrolled and rapid discharge of storage device in case of vehicle accident or equipment malfunction has led automakers to emphasize on fuse-link protection as a key safety feature for equipment and passengers alike. Most of the automobile manufacturers are currently utilizing standard fuse boxes, however development is imperative for reducing size while maintaining safety, reliability and environmental requirements.

Impending implementation of global standards apropos of environment-friendly vehicles, such as the European Commission’s legislative proposal for common safety standard for EVs, are likely to prompt manufacturers to focus on developing EV-compliant products, with integral components such as fuse boxes being one of the primary focus areas. However, challenges remain such as maintaining appropriate safety margin for fuse boxes, predictions pertaining to normal current loading in EVs, and optimization of fuse rating while maintaining cyclic loading and ambient temperature.

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Automotive Fuse Boxes Market: Promising Future of Mobility to Pave New Avenues

Advent of new lightweight materials, increasing feasibility of electric & alternative powertrains, and rapid rise in car-sharing & ridesharing, have changed the way of transportation of people and goods. The new mobility ecosystem resulting from these converging technological and social trends will impact a host of automotive industry players. Global automotive OEMs are eyeing the shift from fixed capital production, product-sale, first-transaction business to being end-to-end mobility service providers, implying profound business model change in the forthcoming years.

About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

This release was published on openPR.