Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Automotive Electrical Products Market Size is Expected to Grow from USD 45.15 Billion in 2023 to USD 78.21 Billion by 2033, Growing at a CAGR of 5.65% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Automotive Electrical Products Market Size, Share, and COVID-19 Impact Analysis, By Product (Batteries, Alternators, Starters, Electric Motors, Wiring Harnesses, Others), By Application (OEMs, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis and Forecast 2023 - 2033
The international automotive electrical products market refers to the business concerned with designing, manufacturing, and distributing systems that generate, store, and distribute electrical energy within vehicles. These products play a crucial role in powering various vehicle functions, such as lighting, infotainment, engine management, and safety systems. The market is driven by the growing popularity of electric vehicles, the development of automotive technology, and the growing need for dependable and energy-efficient electrical systems. Further, features like ADAS, infotainment, and autonomous systems are driving the market growth. Moreover, the growing ownership of luxury and high-end class vehicles propels the market growth. However, the market growth faces several obstacles, like high upfront costs and complexity during system integration.
The wiring harnesses segment held a significant share of the global automotive electrical products market in 2023 and is anticipated to grow at a rapid pace over the forecast period.
On the basis of the product, the global automotive electrical products market is divided into batteries, alternators, starters, electric motors, wiring harnesses, and others. Among these, the wiring harnesses segment held a significant share of the global automotive electrical products market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is because growing need during EVs' acceptance, technological developments, and the continued need for seamless electric current supply.
The OEMs segment accounted for the highest share of the global automotive electrical products market in 2023 and is anticipated to grow at a significant CAGR over the forecast period.
On the basis of the application, the global automotive electrical products market is segmented into OEMs and aftermarket. Among these, the OEMs segment accounted for the highest share of the global automotive electrical products market in 2023 and is anticipated to grow at a significant CAGR over the forecast period. This is due to the growing need from consumers and suppliers for compliance with strict adherence to guidelines or rules for the satisfaction of safety standards.
Asia Pacific is projected to hold the largest share of the global automotive electrical products market over the forecast period.
Asia Pacific is expected to hold the greatest share of the global automotive electrical products market over the forecast period. The regional market is propelling due to swift industrialization, rising disposable income, pro-EV government initiatives, a large number of automakers, and a strong supply chain. Further, India, China, Japan, and other remaining nations are the key contributors to the market expansion across the region due to their robust techno firms and collaborative projects with automakers. Further, the growing popularity of e-commerce businesses propels the regional market growth.
North America is anticipated to grow at the fastest CAGR of the global automotive electrical products market over the forecast period. The market expansion throughout the region is further driven by the high rate of adoption of advanced automotive technology, the increasing need for electric automobiles, government subsidies, and investment in electrical infrastructure for charging. The EV market is expanding significantly in the US, in particular due to supported by the presence of significant automakers and a strong emphasis on research and development.
Company Profiling
Major vendors in the global automotive electrical products market are Bosch, Denso Corporation, Delphi Technologies, Valeo, Continental AG, Mitsubishi Electric Corporation, Hella KGaA Hueck & Co., Johnson Controls, Magna International Inc., Lear Corporation, Panasonic Corporation, Sumitomo Electric Industries, Ltd., Yazaki Corporation, Aptiv PLC, Hitachi Automotive Systems, Ltd., ZF Friedrichshafen AG, Nippon Seiki Co., Ltd., Marelli Holdings Co., Ltd., Robertshaw, TE Connectivity Ltd, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global automotive electrical products market based on the below-mentioned segments:
Global Automotive Electrical Products Market, By Product
Global Automotive Electrical Products Market, By Application
Global Automotive Electrical Products Market, By Regional
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