Automobile Electrical System Market: Forward looking perspective on different factors driving or restraining market growth

There has been a transition in automobile electrical systems over a decade. Previously electrical systems in a vehicle comprised of basic wirings, which were meant to distribute power to specific parts of the vehicle. Wires, relays, controlled motors and switches were used as components to provide power in various parts of the vehicle.

In comparison to that, today’s automobile electrical system includes alternators, actuators, sensors, starter solenoid, oxygen sensors, battery, starter drive, generator, high power electrical systems and other components. Among these, battery, starter and alternator are the key electrical components. The alternator provides energy to the battery by which the battery transfers power to the starter to ignite the engine.

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The purpose of electrical systems are not only to start and function an engine but also to ensure the smooth functioning of various electronics in the vehicle. Electronics of a vehicle can be classified as chassis electronics, engine electronics, transmission electronics, driver assistance, active safety, passenger comfort, electronic integrated cockpit systems and entertainment systems.

With the rise in the purchasing power of people across the world, there has been a shift in preference of consumers. Automobiles are no longer considered as just transport machines. The consumers look forward to advanced electrical and electronics solutions as well, in automobiles.

The automobile electrical system market can be classified by component, by application and by geography. The component segment can be classified into battery, starter, alternator and others. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

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There has been significant growth and development in regions of Asia Pacific, MEA and Latin America. The automotive sector is one of the largest growing sectors in the above mentioned regions. Countries such as India, China, South Africa, Saudi Arabia, Brazil and Russia among others, which have shown considerable growth in the automotive market. This has provided huge scope and opportunity for automobile electrical system manufacturers to penetrate into the emerging markets of Asia Pacific, MEA and Latin America.

Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automobile electrical system market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Alps Electric, Continental AG, Delphi Automotive PLC, Mitsubishi Electric, Robert Bosch GmbH, TRW Automotive, Hella, Lear Corporation, Tokai Rika and Valeo among others.

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