Automotive Terminal Market Overview
An estimated 9.14 percent compound annual growth rate of a CAGR for the automotive
terminals market will be achieved by the end of 2018. By 2026, the
market is anticipated to be worth USD 17,600 million. Electronically controlled
devices are referred to as vehicle terminals in the industry. A battery or cell
can be connected to the adapter to power a vehicle. Both sorts of vehicles are
charged in this manner.
The post-pandemic world's expansion is fueled by the increasing usage of
electronic parts and materials in automobile manufacturing. To adopt
sustainable and clean energies, companies want to experiment with making
electric automobiles. Governmental rules on the maximum number of pollution
particles that cars may produce are also contributing to the development of
this sector.
After and during the outbreak, there was a noticeable decrease in people
traveling. This harmed the worldwide market, causing numerous enterprises to
reduce or cease operations drastically. As a result of shutdowns and travel
bans, the cost of raw materials used to construct these terminals has
skyrocketed for many manufacturers. As a consequence, the cost of these
terminals went up significantly.
Request Free
Sample of Report of Automotive Terminal Market
Automotive Terminal Market Segmentation
The automotive terminal market is classified according to
the type of vehicle on-highway vehicle, current rating, off-highway vehicle,
and application.
According to estimates, the battery system category would be the largest
industry for automotive terminals in application growth. Immediately after
that, there are the safety & security system, lighting system, body control
& interiors, infotainment, and finally, cooling, motor & emission
control systems. According to projections, the battery system sector will see a
significant increase as the number of battery packs installed in vehicles to
support a growing variety of applications expands.
Key Players
- TE
Connectivity Ltd. (Switzerland)
- Sumitomo
Electric Industries Ltd. (Japan)
- Delphi
Plc (U.K)
- Lear
Corporation (U.S.)
- Furukawa
Electric Co. Ltd. (Japan)
- PKC
Group (Finland)
- Molex
LLC (U.S.)
- Grote
Industries (U.S.)
- Keats
Manufacturing Co. (U.S.)
- Viney
Corporation Limited (India)
Automotive Terminal Market Regional
Classification
Nearly 60 percent of the population lives in the Asia-Pacific area,
including India and China, two of the world's most populous countries. Economic
growth in these countries is predicted to be much higher than in other
countries throughout the projection period, mainly due to building,
transportation, and industrialization operations. Automobile sales in the area
are expected to rise throughout the predicted period. Authorities are mandating
improved passive and active safety measures and other electric systems in
Asia-Pacific. This is expected to boost development in the nation's automotive
terminal industry in the future years.
Automotive Terminal Industry News
The new terminal design announced by TE in September 2018 decreases the
insertion force needed by employees during vehicle installation and assembly.
Because current automobile ECUs need 300 electrical connections, this is a
significant undertaking. Factory employees must use considerable power and
physical energy to populate these connections with wires manually. This might
eventually lead to repetitive strain injuries and time off from work.
After completing its public buyout of First Sensor AG in March 2020, TE Connectivity
will have control of 71.87 percent of First Sensor's equity. As a result of the
transaction, First Sensor and TE will access First Sensor's portfolio of novel
sensors, connections, and systems that complement TE's long-term business plan.
They'll be able to service a more significant number of people, which will lead
to massive growth in their market share.
Read more insightful report:
Emergency Ambulance Vehicle Market
No comments:
Post a Comment