Pune, India, June, 2023 /MRFR Press Release/- Market Research Future published a half cooked research report on global automotive terminal market. The automotive terminal market is expected to witness 12.1% CAGR during the period, 2023 to 2032.
The automotive terminal is referred to the point at which a conductor from an electric source is connected comes to an end and provide a complete circuit by joining the other source. The automotive terminal is one of the primary factors for vehicle performance and safety of the occupant. Increased use of electronic content components in the vehicle and growing demand for energy efficient electric vehicles will fuel the global automotive terminal market. Increased growth for autonomous and semi-autonomous vehicles in the emerging market will provide opportunities for new entrants. Moreover, extensive research regarding the development of the product and cost-effective solutions will further boost the sales and demand for the product. However, design issues in developing terminals for high voltage use and terminal design to handle vibrations in the vehicle are the major challenges for manufacturers. Lack of guarantee of long-term reliability of the terminals, will hamper the growth of the market.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Terminal market Research Report
Market Research Analysis
In terms of region, the global market for the automotive terminal is divided into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific market is expected to hold a significant revenue share over the forecast period. Increase in the production of vehicles and government regulations regarding the safety of the vehicle will drive the growth of the market throughout the forecast period. Asia Pacific will register the highest CAGR during the forecast period, owing to the increase in sales of electric vehicles, better infrastructure, and increased purchasing power of consumers. Furthermore, China is leading the market in terms of revenue due to their massive use of electronic components in the vehicle followed by Japan, Korea, and India. In North America, increased sales of self-driving vehicles and demand for next-generation vehicles will enhance the growth of the market during the forecast period. In Europe, new government regulations and awareness of vehicle advanced safety technologies will raise the market and provide opportunities for new entrants in the region.
Scope of the Report
This study provides an overview of the global automotive terminal market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive terminal market by type, material, fuel, sales, application, and regions.
The prominent players in the automotive terminal market include TE Connectivity Ltd. (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), Delphi Plc (U.K), Lear Corporation (U.S.), and Furukawa Electric Co., Ltd. (Japan). PKC Group (Finland), Molex, LLC (U.S.), Grote Industries (U.S.), Keats Manufacturing Co. (U.S.), and Viney Corporation Limited (India) are among others.