The Global Automotive Terminal Market is estimated to reach USD 25 Billion by 2024 at a CAGR of 11.4%.
Automotive terminals are electromechanical devices that can regulate different electronic systems or can be used to connect charger with cell or batteries in vehicles. This system comes in different sizes, designs, and specifications depending upon the demand of the end-user industry. Terminals are fitted at the endpoint of a wire with a connector or fastener.
Automotive Terminal Market: Drivers & Restraints
Rise in Demand of Electric Systems
Automotive manufacturers are engaged in developing innovative technologies that would provide better connectivity solutions with the growing demand for luxurious and smart vehicles. Rise in demand for electric and autonomous vehicles has boosted the demand for electric systems. As per Edison Electric Institute, in 2018, the total sales of electric vehicles in the United States raised 81%, when compared to 2017. Thus, the demand for electric systems has expected to drive the automotive terminal market during the forecast period.
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Supportive Regulations Regarding Safety Systems
Safety is one of the biggest concerns in the automotive industry. Government standards are introduced to increase driver or onboard passenger’s safety. As per the World Health Organization (WHO), around 1.35 million people annually die due to road accidents. To overcome this situation, various safety systems have been introduced which are expected to boost the automotive safety market during the forecast period. For instance, In the United States, the National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) have been imposed to increase the implementation of the collision avoidance system.
Reliability Issues of Battery Terminal
Battery terminals are formed by highly conductive metal or lead. They are important in connecting battery cables and are the first point of contact between the vehicle’s electrical system and battery. Issues with battery terminal can impact the complete vehicle and to overcome this situation vehicle need to be serviced. First concern with the battery terminal is a problem in starting the vehicle, this can be caused by a loose battery terminal or corrosion on the battery. No electric power is another concern for failing battery cables, damaged or corroded terminal causes this problem and replacement of battery terminal can fix this. Thus reliability issues regarding the battery terminal impact the market growth.
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Automotive Terminal Market: Key Segments
- Based on Type: Battery Terminal, Connectors, Wire Wrap, Screw Terminals, Leads, Terminal strips, and Others
- By Application: Battery system, Safety & Security, Body Control & Interiors, In-Vehicle Infotainment Systems, Engine & Emission Control, Cooling, and Lighting System
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Rest of the World with individual country-level analysis.
List of the leading companies operating in the Automotive Terminal Market include:
- TE Connectivity (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Sumitomo Electric Industries, Ltd.
- Delphi Technologies
- Lear Corporation.
- FURUKAWA ELECTRIC CO., LTD.
- PKC Group Ltd
- Molex, LLC
- Grote Industries, Inc.
- Keats Manufacturing,
- Viney Corporation Limited,
- Other Key Companies
Automotive Terminal Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Terminal Market, by Type
- Battery Terminal
- Wire Wrap
- Screw Terminals
- Terminal strips
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Automotive Terminal Market, by Application
- Battery system
- Safety & Security
- Body Control & Interiors
- In-Vehicle Infotainment Systems
- Engine & Emission Control
- Lighting System
Automotive Terminal Market, by Vehicle Type
- Internal Combustion Engine (ICE)
- Electric Vehicles (EVs)
Automotive Terminal Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
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