Automotive Terminal Market by Application (Body Control & Interiors, Safety & Security, Cooling, Engine & Emission Control, Infotainment, Lighting System, and Battery System), Current Rating, Vehicle Type, EV Type, and Region - Global Forecast to 2025
The global automotive terminal market is estimated to be USD 12.64 Billion in 2017 and is projected to grow at a CAGR of 10.03% during the forecast period, to reach USD 27.14 Billion by 2025. Some of the major growth drivers for the market are the increasing demand for automotive safety systems supported by government mandates and increasing number of electrical systems in the vehicle.
The evolution of connected, autonomous, and semi-autonomous vehicles, as well as energy-efficient E-mobility, can create new revenue generation opportunities for automotive terminal manufacturers. However, design issues with high voltage terminals and long-term reliability of battery terminals can pose a challenge for automotive terminal manufacturers.
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North America to be the fastest growing market and Asia Pacific to hold the largest market for automotive terminal in 2025
North America is projected to be the fastest growing market for automotive terminal from 2017 to 2025. The market growth in this region can be attributed to the increasing awareness regarding advanced vehicle electronics and convenience inside a vehicle.
Asia Pacific is projected to be the largest market for automotive terminal from 2017 to 2025. The market growth in the region can be attributed to factors such as factory fitted advanced electronics and government initiatives regarding the use of environment-friendly electric vehicles.
Cooling, engine & emission control is estimated to hold the largest market share during the forecast period
The Automotive Terminal Market for cooling, engine & emission control segment is estimated to be the largest during the forecast period. It is followed by the safety & security system, body control & interiors, infotainment, lighting system, and battery system.
Government norms regarding vehicle emission are increasing the demand for cooling, engine & emission control in the global Automotive Terminal Market. Another factor that is driving the market for cooling, engine & emission control is the significant rise in the sales of modern vehicles in developing countries like China and India.
Below 40 Ampere segments for automotive terminal is estimated to be the largest segment by current rating from 2017 to 2025
The Automotive Terminal Market for below 40 Ampere is estimated to be the largest since it is used in most of the vehicle electronics. Increasing installation of electronic applications that operate in the range of below 40 Ampere such as wiper motor, mirrors, and electronic fuel injection is likely to drive the growth of this segment.
The Automotive Terminal Market is dominated by a few globally established players such as TE Connectivity (Switzerland), Delphi (UK), Furukawa Electric (Japan), and PKC Group (Finland).
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