Increasing adoption of electronic functions in a vehicle is expected to drive the vehicle power distribution market in the coming years
The vehicle power distribution market is estimated to be USD 6.47 billion in 2018 and is projected to reach USD 8.60 billion by 2025, growing at a CAGR of 4.15% from 2018 to 2025. The market growth is primarily driven by factors such as the increasing adoption of electronic functions in a vehicle. However, the lack of technological innovation in power distribution box is a major restraint for the vehicle power distribution market.
The configurable segment is estimated to be the fastest growing segment of vehicle power distribution market, in terms of value
The configurable segment is estimated to be the fastest growing segment of the vehicle power distribution market during the forecast period. The introduction of advanced electronic systems such as HUDs, reconfigurable instrument cluster, rear seat entertainment, drive mode selector, advanced telematics, and electric powertrain is anticipated to drive the market for a configurable power distribution box.
The passenger car segment is estimated to be the largest segment of the vehicle power distribution market, by vehicle type, in terms of value
By vehicle type, the passenger car segment is estimated to hold the largest market share of the vehicle power distribution market.The market growth can be attributed to the growing passenger car production, increasing installation of safety and convenience features in passenger cars, and advancements in vehicle electronics.
Additionally, the introduction of advanced features such as blind spot detection, adaptive lighting, and park assist in mid-segment vehicles would also drive the vehicle power distribution market for passenger cars. Moreover, the global demand for passenger cars is higher than that for commercial vehicles, and it is expected to grow further in the future.
RoW is estimated to be the fastest growing market, by value, for vehicle power distribution
RoW is estimated to be the fastest growing market for vehicle power distribution during the forecast period.The region comprises developing countries such as Brazil and Iran, which have witnessed significant growth in the automobile sector in the recent past.
Vehicle manufacturers worldwide have started to recognize the untapped market in the region and are focusing on expanding their reach in these countries, thereby flourishing the automobile business environment globally.The growth of this region’s automotive market can be attributed to the rise in the demand for vehicles, the availability of cheap labor, and low production cost.
The vehicle power distribution market is expected to grow in line with the increase in automotive production in the region.
The study contains insights provided by various industry experts, ranging from vehicle power distribution box manufacturers to automobile OEMs and various automotive associations. The break-up of the primaries is as follows:
• By Company Type: Tier I–56%, Tier II–33% and OEMs–11%
• By Designation: C Level–33%, D Level–45% and Other –228%
• By Region: Asia Pacific– 45%, Europe– 33%, North America– 22%
Players profiled in the report are:
• Eaton (Ireland)
• Lear (US)
• Sumitomo Electric (Japan)
• TE Connectivity (Switzerland)
• Yazaki (Japan)
• Littelfuse (US)
• Leoni (Germany)
• Furukawa (Japan)
• Horiba (Japan)
• Mersen (France)
The report covers the vehicle power distribution market by type (Hardwired & Configurable), component (Fuse, Relays, CAN, & Others), electric vehicle type (BEVs, HEVs, & PHEVs), off-highway vehicle (Agricultural Tractors & Construction Equipment), vehicle type (Passenger Car, LCVs, & HCVs) and region (Asia Pacific, Europe, North America, and RoW).
Reasons to Buy the Report:
The report provides insights into the following points:
• Market Penetration: The report provides comprehensive information on vehicle power distribution box offered by the top players in the industry for automotive market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the vehicle power distribution market.
• Market Development: The report offers comprehensive information about vehicle power distribution market. The report analyzes the market for vehicle power distribution box across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about emerging trends, market dynamics, and investments in the global vehicle power distribution market.