Press release
Surging Global Automotive Temperature Sensor Market: Projected to Reach $13.07 Billion by 2029
Automotive Temperature Sensor Market
Automotive Terminal Market: From $18.78 billion in 2024 to $31.27 billion by 2029
This press release focuses on the growth, key factors, and market trends in the global automotive terminal market, which is expected to grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2029.
What Is The Projected Market Size Of The Global Automotive Terminal Market And Its Growth Rate?
• Market was valued at $18.78 billion in 2024
• Expected to reach $20.68 billion in 2025, a CAGR of 10.1%.
• Anticipated to grow to $31.27 billion by 2029, a CAGR of 10.9%.
The growth over these periods can be attributed to rising vehicle production, electric vehicle adoption, and rising global urbanization, among other factors.
What Is Driving The Growth In The Automotive Terminal Market ?
The growth of the automotive terminal market is heavily influenced by the growing demand for passenger and commercial vehicles, resulting from the increasing income among individuals globally. The exponential increase in demand for these vehicles is contributing to the consumption of automotive terminals which are essential components in their manufacturing. For example, in 2022 alone, production of motor vehicles globally, rose by 5.7% to 85.4 million according to the European Automobile Manufacturers Association.
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Who Are the Key Players Driving Automotive Terminal Market Growth?
• Delphi plc
• TE Connectivity Ltd.
• Pohjolan Kaapeli Oy
• Furukawa Electric Co. Ltd.
• Canadian Automobile Association
• Tyco Electronics Ltd.
• Lear Corp.
• Molex LLC
• Viney Corporation
What Are The Key Trends In The Automotive Terminal Market?
Key trends include:
• Digitalization of manufacturing
• 5g integration
• Utilization of advanced materials
• Enhancement of safety features
• Cross-industry collaboration
What Are The Segments Of The Global Automotive Terminal Market?
• By Current Rating: Below 40 Ampere, 41-100 Ampere, Above 100 Ampere
• By Vehicle Type: Passenger, Commercial
• By Application: Body Control and Interiors, Safety and Security, Cooling, Engine and Emission Control, Infotainment, Lighting System, Battery System
Which Region Leads The Automotive Terminal Market?
Asia-Pacific was the leading region in the automotive terminal market in 2024, with North America projected to be the fastest-growing region in the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Automotive Terminal Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Terminal Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Terminal Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Terminal Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Terminal Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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