Press release
Global Automotive Electrical Products Market 2023: Extensive Application in EVs to Heighten Demand
Need More Insights on Competitor Analysis of the Automotive Electrical Products Market, Request for Sample@ https://www.persistencemarketresearch.com/samples/32160
The rising adoption of electric vehicles (EVs) has been a significant factor driving the growth of the automotive electrical products market. EVs require advanced electrical components such as high-capacity batteries and power electronics to provide sufficient power to the electric powertrain. This has led to the development of new and advanced electrical products that can meet the unique requirements of EVs.
Companies
Altera (Intel Corporation)
BBB Industries Ltd
Broadcom Ltd.
Continental AG
DENSO CORPORATION
Hella Gmbh & Co. Kgaa (Hella)
Hitachi Automotive Systems, Ltd.
Infineon Technologies AG
Microchip Technology, Inc.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/32160
The Asia-Pacific region has been a major contributor to the growth of the automotive electrical products market. The region accounts for a significant share of the global automotive production and is home to several major automotive OEMs. The growth of the automotive electrical products market in the region can be attributed to the increasing demand for passenger and commercial vehicles, particularly in emerging economies such as China and India.
Another factor driving the growth of the automotive electrical products market is the increasing adoption of advanced safety features in vehicles, such as ADAS. These features require advanced sensors, processors, and electrical components to function correctly, which has led to the development of new and advanced electrical products to meet these requirements.
However, the automotive electrical products market faces challenges such as the high cost of advanced electronics and the availability of alternative technologies such as fuel cells and hydrogen-powered vehicles. Nevertheless, the increasing demand for advanced electrical components and features in vehicles is expected to sustain the growth of the automotive electrical products market in the coming years.
Regional Outlook of Automotive Electrical Products Market
North America is expected to pivot the global automotive electrical products market share, attributed to immense spawning of the EV industry. Over the years, numerous startups offering EV automotive electrical products and solutions have come into existence. According to the U.S. Department of Energy, sales of plug-in electric vehicles (PEVs) rose impressively between 2011 and 2018, reaching over 300,000 units. Sales have moderately declined amid the COVID-19 crisis, but are anticipated to remain on an upward trajectory, owing to reduced dependence on conventional fossil-fuel cars.
By 2021-end, it is anticipated that, more than 7 out of 10 people will own an EV. Consequently, companies such as Intvo, Udelv, and Lordstown Motors have significantly enhanced their presence across the North American market. Moreover, government regulations are encouraging EV uptake, spiking electrical products sales in this domain.
If you want to Purchase Specific Insights by Segment/Region/Competitor, Request For Customization @ https://www.persistencemarketresearch.com/request-customization/32160
Key Segments of Global Automotive Electrical Products Market
Product
Light Equipment
Automotive Batteries
Automotive Connectors
Alternators & Starters
Ignition Systems & Parts
Others
Vehicle
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East Africa
Top Market Research Report:
Automotive Seatbelts Market: https://www.globenewswire.com/news-release/2023/04/19/2650354/0/en/Automotive-Seat-Belt-Market-will-surpass-US-15-8-billion-revenues-towards-the-end-of-2033-Persistence-Market-Research.html#:~:text=The%20global%20automobile%20seat%20belt,by%20the%20end%20of%202023.
Automotive Radiator Market: https://www.globenewswire.com/news-release/2023/04/26/2655251/0/en/Automotive-Radiator-Market-to-hit-US-15-14-Billion-by-2033-says-Persistence-Market-Research.html#:~:text=By%202033%2C%20the%20Automotive%20Radiator,temperature%20and%20ensuring%20optimal%20performance.
Media Contact:
Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353
sales@persistencemarketresearch.com
About Persistence Market Research
Persistence market Research comes across as an incomparable provider of market intelligence from the other side of the fence. In other words, Persistence Market Research, with all its pragmatism, perseverance, and prudence, brings the nitty-gritties of market research for the clients, to the service of clients, and abides by the objective of guiding clients in profitable approach.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Automotive Electrical Products Market 2023: Extensive Application in EVs to Heighten Demand here
News-ID: 3169523 • Views: …
More Releases from Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…
