The report on the Automotive Terminal market provides a bird’s eye view of the current proceeding within the Automotive Terminal Market, which is conducted by Market Research Future. MRFR takes into account the impact of the novel COVID-19 pandemic on the Automotive Terminal market and provides a clear assessment of the projected market fluctuations during the forecast period (2018-2023). The market impact and new opportunities are expected to be created at a pace of ~9.14% portraying remarkable growth.
Top
Impacting Factors
The study portrays automotive manufacturers, amid lockdown due to novel
coronavirus, are actively engaged in innovative technologies that would provide
enhanced connectivity solutions with the rising demand for luxurious and smart
vehicles. The ascend in demand for electric and autonomous vehicles has boosted
the demand for electric systems. As Edison Electric Institute claims that in
2018, the entire sales of electric vehicles in the United States raised 81%
when compared to the sales recorded in 2017. Therefore, the demand for electric
systems expected to drive the automotive terminal market during the assessment
period.
The ascend in demand for electric vehicles, in response to escalating
the use of electronic components in vehicles, is the key factor fuelling the
growth of the market. In fact, the rigorous government regulations regarding
safety introduce the development in automotive safety systems and thereby
propel the automotive terminal market.
At the same time, the mount in safety concerns among consumers, along
with safety-related initiatives from government agencies, has elevated the prerequisite
for a reliable terminal in various vehicle systems. In the case of point, in
2017, the electric vehicle sales on a global level were 1 million units, which
were augmented to 2 million units in the year 2018, therefore driving the
growth of the automotive terminals market.
Another factor driving the augmentation of the market is a mounting
concern of improving the safety and security of vehicles among automakers, thus
resulting in automakers to install dedicated electronic control units (ECUs) at
every basic level of the vehicle system, including powertrain, steering, and
braking systems. In the case of point, the usage of ECUs, such as electric
power steering ECU unit and anti-lock braking systems (ABS) ECU unit, have been
appreciably augmented to approximately 4-5% rise annually, during the past
three years.
On the contrary, the factor of highly rigid automotive terminals and
complexity correlated to the high voltage terminals to long term reliability
are some factors liable for restricting the growth of the market.
Segmentation
of Market
The global automotive terminal market is segmented into vehicle type, current
rating, and application.
In terms of the current rating segment, the market has included less
than 50 Ampere, 50-100 Ampere, and more than 100 Ampere.
In terms of vehicle type segment, the market has included passenger
vehicles and commercial vehicles.
In terms of application segment, the market has included safety &
security, body control & interiors, engine & emission control, cooling,
lighting system, infotainment, and battery system. Among these, the battery
system shows expectancy to hold the largest market share in the base year and persist
in growth over the assessment period.
Regional
Outlook
Geographically, the automotive
terminal market size globally, has been studied for the key regions of Europe,
Asia Pacific, North America, and the Rest of the World.
The Asia Pacific will grasp the largest market share in terms of value
and volume owing to advancements in infrastructure, augmented vehicle sales,
and government regulations regarding safety devices in the vehicles. The Asia
Pacific will also expand at the highest growth rate during the assessment
period. China is foremost the market in terms of revenue owing to its colossal
use of electronic components in the vehicles also in Japan, Korea, and India.
Europe region ranks top in implementing safety features in vehicles. Euro
NCAP released few protocols on safety features, such as autonomous emergency
braking and driving monitoring and child occupant protection in 2019. Thus, at present,
it is anticipating mandating these features in EU vehicles by 2018-2023. With mounting
regulations toward vehicle safety standards, the adoption of safety and
security systems in automobiles are likely to boost, which in turn, will result
in the demand for and usage of terminals during the projected period.
Top Market
Players
The well-known players in the automotive terminal market have listed as
Sumitomo Electric Industries, Ltd. (Japan), TE Connectivity Ltd. (Switzerland),
Lear Corporation (U.S.), Delphi Plc (U.K), Molex, LLC (U.S.), PKC Group
(Finland), and Viney Corporation Limited (India) are among others.
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