The Global Market for Automotive Electrical Products is Forecast to Reach US$90.5 Billion by 2022

Growing Complexity of the Electrical Anatomy of a Car Lays the Foundation for the Growth of Automotive Electrical Products, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Automotive Electrical Products market. The global market for Automotive Electrical Products is forecast to reach US$90.5 billion by 2022, driven by the increasing complexity of vehicle electrical systems as a result of increased integration of in-car entertainment and communication systems, engine electronics and advanced safety and driver assistance system.

Cars over the decades have evolved from a simple mechanical piece of engineering to an electrical marvel. From limited electrical systems such as alternators, batteries, solenoids, spark plugs and lighting systems of the 1980s, the electrical anatomy of a car has undergone a revolution. Modern cars are today integrated with numerous electrical components that control various integrated systems ranging from ECUs, ABS brakes, GPS navigation equipment, sensors, driver assistance systems, power windows, heated seats to sunroofs. Given that flow of electrical current from one component to another is vital to ensure all components work effectively in unison, electrical products are indispensable in automotive engineering. They represent the lifeblood of every vehicle. Automotive electrical systems are important as they play a vital role in managing on-board electronics. The battery, for instance, utilizes electricity to start the engine and other electrical systems contained inside the vehicle. Electrical power consumption by an automobile has risen by over 50% as compared to the 1970s. A good and well calibrated electrical system offers numerous advantages such as improved electrical system stability; lower vehicle noise, vibration, and harshness; improved fuel efficiency; downsized wiring and overall reduction in electrical system cost.

The market is also benefiting from the migration of engineering design concepts from conventional hydraulic technology to electrically powered components for lower energy consumption. Standing testimony to the trend is the rise of X by wire technologies such as electric power steering; electromechanical brakes; electrical HVAC systems; electromagnetic valve trains; integrated starter-generators, and electronic ride control systems. Supported by the growing awareness over the economic and environmental drawbacks of fossil fuelled transportation systems, the growing focus on electric cars is expected to benefit the market given the unique electrical architecture of these vehicles. Electric vehicles unlike conventional vehicles require electromagnetic interference shielding systems for greater safety. These vehicles additionally require more robust connectors capable of handling operating voltages that range from 400V up to 750V and carrying currents as high as 400A. The vehicles additionally require vehicle charging interfaces like charging cables, Vehicle inlets and cordsets, among others.

As stated by the new market research report on Automotive Electrical Products, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 7.6% over the analysis period, led by factors such as stable GDP growth, growing disposable income, rise in per capita car ownership, the growing trend towards automobile "electronification", increase in average operating life of a vehicle and the ensuing frequency of electrical upgrades in the aftermarket, and rise of Asian countries as manufacturing hubs for auto parts including electrical products.

Major players covered in the market include Advanced Lighting Technologies Inc., Auer Lighting GmbH, Automotive Lighting Reutlingen GmbH, BBB Industries LLC, BERU AG, Continental AG, Delphi Corporation, Denso Corporation, East Penn Manufacturing Company, Inc., Exide Technologies, Inc., Federal-Mogul Corporation, F.I.A.M.M SpA, GS Yuasa Corporation, Hella KGaA Hueck & Co., Hitachi Automotive Systems Americas, Inc., Ichikoh Industries Ltd., JAE, Johnson Controls Inc., Koito Manufacturing Company Ltd., NGK Spark Plug Co., Ltd., OSRAM GmbH, Osram Sylvania Inc., Philips Lighting B.V., Philips LumiLeds Lighting Company, Remy International, Inc., Robert Bosch GmbH, Stanley Electric Co. Ltd., TE Connectivity Ltd., Valeo SA, Visteon Corporation, and Yazaki Corporation, among others.

The research report titled “Automotive Electrical Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes the Automotive Electrical Products market by product segments – Automotive Batteries, Automotive Connectors, Alternators & Starters, Ignition System & Parts, Lighting Equipment, and Others (Includes Coil Bobbins, Relays, and Other related products).

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