Automotive Junction Box Market to Reach US$ 81.4 Billion by 2031: TMR Study

The latest research study released by Transparency Market Research on "𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐉𝐮𝐧𝐜𝐭𝐢𝐨𝐧 𝐁𝐨𝐱 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Automotive Junction Box industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Automotive Junction Box market is estimated to attain a valuation of US$ 81.4 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 7.5% during the forecast period, 2023-2031

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭-https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=36221

Aggressive advancements in the automotive industry and increased integration of electronics and automation components in vehicles to meet safety and comfort requirement according to the norms suggested by regulatory authorities are key factors that are projected to boost the automotive junction box market value. Light vehicle electrical systems have been fitted with smart junction boxes for the last few years. However, present-day automobiles, trucks, and SUVs are not best served either by widespread integration of electronics or by switching and shielding methods.

eFuse and SmartFET solutions offer cutting-edge power regulation and protection in compact, lightweight packaging, which are available as smart junction box (SJB) choices. Therefore, manufacturers are turning to electronic fuses (eFuses) to enhance efficiency, as the demand for vehicles increase. eFuses offer several advantages over conventional fuses due to their high-precision current measurement. Moreover, they allow for better control of battery charging and discharging.

𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐭𝐫𝐞𝐧𝐝 𝐨𝐟 𝐂𝐀𝐒𝐄 𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐧 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲

In terms of technology, the automotive junction box market segmentation comprises passive junction box and smart junction box. The smart junction box segment is projected to account for major automotive junction box market share during the forecast period. This is due to high penetration of micro-controller based technology to perform several vehicle control functions and increased deployment of cutting-edge electronics and telematics solutions even in a small, midsize, and economy level cars. Additionally, increase in disposable income across the world is propelling automotive sales in developing and middle-income countries, which is further boosting the future of automotive junction box market.

According to global automotive junction box market analysis, growing trend of connected, autonomous, shared and electric (CASE) mobility in the automobile industry and rising penetration of autonomy levels with advancements in ADAS, i.e. vehicle assisted technologies including the lane departure warning system, vehicle cruise control and blind spot detection system, are projected to fuel the automotive electric junction box market growth. Enhancements in the electric power steering (EPS) with ADAS technologies in passenger vehicles is also anticipated to positively boost the automotive junction box industry across the globe.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=36221

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

Asia Pacific is estimated to lead the global market during the forecast period. The market in Asia Pacific is expected to grow significantly due to rapid expansion of the manufacturing sector and the automobile industry in the region, where China is leading the charge of the mobility industry. Furthermore, the region is at the global forefront in supplying electric vehicles and its various components. Furthermore, consistent growth in EV sales in China, India, Japan, and South Korea as well as ASEAN countries is estimated to offer lucrative growth opportunities for APAC automotive junction box business growth.

Significant expansion witnessed by the Europe market could be attributed to higher sales of electric cars in the region. Growth of the market in the region is expected to be primarily driven by the strong automotive business in Germany, France, Italy, and the U.K., which are key markets with strong presence of several OEM and tire-1 suppliers in Europe with cutting-edge electric junction box research and development capabilities.

Furthermore, North America is currently witnessing stronger sales of SUVs and light commercial vehicles, which have even surpassed the passenger car sales volume. Manufacturers in the U.S. are majorly focusing on the adoption of automation in automobile applications to create highly effective, safer, and superior in-vehicle eco-systems. This is projected to have a significant impact on the U.S. automotive junction box market size.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐨𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The significant players operating in the global Automotive Junction Box market are

Aisin Seiki Co. Ltd., BorgWarner Inc., Continental AG, Denso Corporation, Eaton Corporation Plc, Hilite International, Hitachi Astemo, Ltd., Onsemi, Maxwell Technologies Inc., Mechadyne International Ltd., Robert Bosch Gmbh, Schaeffler Technologies Ag & Co. AG, Valeo SA, Johnson Control Inc., and Mitsubishi Industrial Automation

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 -

This report has explored the key segments: by Type and by Application. The lucrativeness and growth potential have been looked into by the industry experts in this report. This report also provides revenue forecast data by type and by application segments based on value for the period 2023-2031.

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=36221

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐉𝐮𝐧𝐜𝐭𝐢𝐨𝐧 𝐁𝐨𝐱 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

In June 2022, Hitachi Astemo, Ltd. developed a steer-by-wire prototype for vehicles, which actuates the tire not mechanically, but through the electric control of steering wheel inputs. The prototype not only executes smooth, effortless steering wheel operations, but also eliminates redundancy through a fail-safe function that enables the continued operation in the event of failure.

In December 2020, DENSO Corporation announced the opening of an Electrification Innovation Center at its plant in Anjo, Aichi, Japan. The new plant is expected to focus on the company's aggressive development and production of electrified automotive products, systems, and technologies

𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐥𝐞𝐭𝐬 𝐲𝐨𝐮 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐉𝐮𝐧𝐜𝐭𝐢𝐨𝐧 𝐁𝐨𝐱 𝐌𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝐦𝐞𝐚𝐧𝐬 𝐨𝐟 𝐚 𝐫𝐞𝐠𝐢𝐨𝐧:

North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

𝐒𝐦𝐨𝐤𝐢𝐧𝐠 𝐂𝐞𝐬𝐬𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐃𝐞-𝐀𝐝𝐝𝐢𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/07/18/2481255/0/en/Smoking-Cessation-and-Nicotine-De-Addiction-Market-to-Reach-US-27-84-Bn-by-2031-TMR-Study.html/

𝐓𝐡𝐨𝐫𝐚𝐜𝐢𝐜 𝐃𝐫𝐚𝐢𝐧𝐚𝐠𝐞 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/07/19/2481822/0/en/Thoracic-Drainage-Devices-Market-is-Projected-to-Develop-at-a-CAGR-of-4-6-during-the-Forecast-Period-observes-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani

Transparency Market Research Inc.

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