Press release
Automotive Terminal Market Outlook 2024: Exclusive Report By The Business Research Company | Delphi plc, TE Connectivity Ltd., Pohjolan Kaapeli Oy, Furukawa Electric Co. Ltd., Canadian Automobile Association
Automotive Terminal Market Characteristics
The Business Research Company offers in-depth market insights through Automotive Terminal Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive terminal market size has grown rapidly in recent years. It will grow from $17.21 billion in 2023 to $19.09 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to growth in automotive industry, stringent emission regulations, rising consumer demand for electronics, economic growth.
The automotive terminal market size is expected to see rapid growth in the next few years. It will grow to $28.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to rising vehicle production, electric vehicle adoption, rising global urbanization, growing per capita disposable income, government support. Major trends in the forecast period include digitalization of manufacturing, 5g integration, advanced materials, enhanced safety features, cross-industry collaboration.
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Market Segmentation:
The main types of current ratings for automotive terminals include below 40 amperes, 41-100 amperes, and above 100 amperes. The below 40 ampere refers to the automotive terminal that utilizes of below 40 amperes current rating in a vehicle. The lighting, accessories, and engine idling in vehicles utilize a current rating of less than 40 amperes. The applications of the automotive terminal include body control and interiors, safety and security, cooling, engine and emission control, infotainment, lighting systems, and battery systems. They are used in both passenger and commercial vehicles.
Major Driver - Increased Automobile Production Boosts Growth In The Automotive Terminal Market
The increasing quantity of automobile production is expected to propel the growth of the automotive terminal market. Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles. The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive terminals, as they are a vital component in the manufacturing of automotive vehicles. For instance, in April 2022, according to World Motor Vehicle Production, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Therefore, the increasing quantity of automobile production is expected to boost the growth of the automotive terminals market during the forecast period.
Competitive Landscape:
Major companies operating in the automotive terminal market include Delphi plc, TE Connectivity Ltd., Pohjolan Kaapeli Oy, Furukawa Electric Co. Ltd., Canadian Automobile Association, Tyco Electronics Ltd., Lear Corp., Molex LLC, Viney Corporation, Grote industries Inc., Keats Groups Ltd., Sumitomo Electric Industries Ltd., Yazaki Corporation, Amphenol Corporation, Aptiv PLC, JST Mfg. Co. Ltd., Kyocera Corporation, Leoni AG, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Samtec Inc., Schlemmer Group, Sumitomo Wiring Systems Ltd., 3M Company, Amphenol Aerospace Corp., Amphenol Industrial Operations Corp., Anderson Power Products, Deutsche Telekom, Esterline Technologies Corp., Glenair Inc., Harwin plc
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Top Trend - Technological Advancements Propel Innovations In The Automotive Terminal Market
Technological advancements have emerged as a key trend gaining popularity in the automotive terminal market. The companies operating in the automotive terminal market are focusing on developing advanced products to meet industry demands and strengthen their market position across the globe. For instance, in March 2022, according to a publication by Mouser Electronics, a US-based electronics distributor, JAE Electronics developed the miniatured MX79A series high-speed connectors to support data transmission. The MX79A high-speed connectors improve transmission between in-vehicle information and communication technology (ICT) units such as camera ECU.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Terminal Market Characteristics
3. Automotive Terminal Market Trends And Strategies
4. Automotive Terminal Market - Macro Economic Scenario
5. Automotive Terminal Market Size And Growth
…..
27. Automotive Terminal Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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