Summary

The car electrical products market is expected to grow at a significant CAGR of around 8% during the forecast period.
The electrical and electronic components used in cars are the very fundamental part of the vehicle in order to function, without electrical components, a car is non-operational, electrical systems are not just responsible for starting up your engine but are also very much important to keep it running, responsible for the functioning of things like lighting systems, vehicles instrumentation system, electrical accessories, and vehicles communication systems ensuring safe and comfortable operation of a vehicle on the roads. Furthermore, with cars becoming more like a computer on wheels, the use of ECUs has become crucial for active safety systems like anti-lock braking, traction, and skid control, in recent times cars that are coming are equipped with sonar, radar, and laser emitters like LiDAR performing functions like blind spot and pedestrian collision warnings, automated braking, and safe distance keeping via smart cruise control are some of the many functions that cars of today are capable of like parking guidance and fully automated parking with the help of sensors and on-board computers that are tied to vehicles brakes, steering, and throttle. Additionally, today even mid to low-range cars come with power windows, keyless entry, anti-theft devices, and infotainment systems with a great deal of connectivity, presenting the car electric products market with a huge opportunity for offering a diverse portfolio of products and a very huge market. For instance, even low-range vehicles of today come with at least 30 microprocessor-controlled devices also known as ECUs, and in luxury cars, the numbers could go upto even more than 100 ECUs, and Toyota high-end vehicles nowadays are coming packed with 100 million lines of computer code, more than even some fighter jets.

Some of the major players operating in the market include DENSO CORPORATION; NGK SPARK PLUG CO., LTD.; Continental AG; ZF Friedrichshafen AG; Robert Bosch GmbH; Infineon Technologies AG; Hitachi Astemo Americas, Inc; AISIN CORPORATION; Schaeffler Group USA Inc; MAHLE GmbH.

Insights Presented in the Report
“Amongst different sales channel types, OEMs segment held a dominating share of the market”
Based on sales channel type, the market is segmented into OEMs and aftermarkets. The OEMs hold the majority of the market share owing to reasons like OEM parts are made by vehicle manufacturers whereas aftermarket parts are produced by different companies hence quality standards of those parts are not very good and they aren’t always made with high-quality materials, so even though aftermarket parts costs less than the OEM parts, customers prefer to buy parts from OEMs as they are reliable, comes with a warranty, and the fitment of those parts are very good. Furthermore, OEM-produced components always excel in the performance front as they are designed and tested under the same rigorous manufacturers’ quality standards and are of high quality which aftermarket products often lack.

“Asia Pacific dominated the car electrical products market in 2021.”
The car electrical products market in the Asia Pacific region held the largest market share and is expected to maintain its growth throughout the forecast period. Major countries in Asia Pacific like India, China, Thailand, etc are going to be the biggest market for electric vehicles. With the rising governments effort for curbing CO2 emissions and become carbon neutral in the due course of time and also with better battery technologies and offerings from the OEMs together creating a great value proposition for the customers along with the feel-good factor of riding an EV is their contribution in saving the planet has boosted the ambition and enthusiasm of the consumers for owning an EV, and with rising demand for an EVs has further risen the demand of electrical components which are used at much larger volumes in electric vehicles than other vehicles. For instance, as per the international energy agency, China is leading the growth in electric vehicles where sales nearly tripled to 3.4 million in 2021, more electric cars were sold in 2021 in China alone than were sold in the entire world in 2020. The annual increase is the fastest electric car market growth in China since 2015, significantly outpacing the more gradual recovery of the country’s overall car market. Electric cars’ share of the overall market on a monthly basis leaped from 7.2% in January to around 20% in December. The Chinese government’s official target is for electric cars to reach a market share of 20% for the full year in 2025.

Car Electrical Products System Market Report Coverage
Base year
・2021
Forecast period
・2022-2030
Growth momentum
・Accelerate at a CAGR of 8%
Market size 2021
・USD XX million
Regional analysis
・North America, Europe, APAC, Rest of the World
Major contributing region
・Asia-Pacific is expected to grow at the highest CAGR during the forecasted period
Key countries covered
・U.S., Canada, Germany, UK, Netherlands, France, Norway, Switzerland, Denmark, China, Japan, India, South Korea
Companies profiled
・DENSO CORPORATION; NGK SPARK PLUG CO., LTD.; Continental AG; ZF Friedrichshafen AG; Robert Bosch GmbH; Infineon Technologies AG; Hitachi Astemo Americas, Inc; AISIN CORPORATION; Schaeffler Group USA Inc; MAHLE GmbH
Report Scope
・Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
Segments Covered
・By Vehicle Type; By Component; By Application; By Sales Channel; By Region/Country

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global car electrical products market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

ページTOPに戻る

Table of Contents