Press release
Motor Vehicle Electrical And Electronic Equipment Market Key Drivers, Insights, Outlook, Overview And Market Research Report 2024-2033
Motor Vehicle Electrical And Electronic Equipment Market
The Business Research Company presents an extensive market research report on the ""Motor Vehicle Electrical And Electronic Equipment Global Market Report 2024,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Motor Vehicle Electrical And Electronic Equipment industry. This report on Motor Vehicle Electrical And Electronic Equipment market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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%.
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Key Market Players:
Bosch Limited, General Motors Corporation, Tenneco Inc., DENSO Manufacturing Tennessee Inc., Delphi Technologies Inc., Hyundai Motor Company, Hella GmbH & Co. KGaA
Market Drivers:
According to the Motor Vehicle Electrical And Electronic Equipment Market Report 2024 by The Business Research Company, The risk of life-threatening accidents due to the failure of electrical and electronic equipment in motor vehicles has a negative impact on the growth of the motor vehicle electrical and electronic equipment market. Any malfunctions with the electrical systems in the vehicles can lead to serious accidents. As reported by the U.S. Department of Transportation's National Highway Traffic Safety Administration, an agency of the U.S. federal government, electrical system failure was the cause of 21% of motor vehicle accidents. In 2022, Ford recalled 48,000 Mustang Mach-E electric crossovers in the USA. The Ford recall was done because of the potential overheating of the vehicle's battery high-voltage contactors.
More information about the Global Motor Vehicle Electrical And Electronic Equipment Market Report -
https://www.thebusinessresearchcompany.com/report/motor-vehicle-electrical-and-electronic-equipment-global-market-report
Market segments for Motor Vehicle Electrical And Electronic Equipment include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
Check Out The Motor Vehicle Electrical And Electronic Equipment Market Report's Discount Options Here -
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2739
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Vehicle Electrification Global Market Report 2023
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