The Global Vehicle Power Distribution Market is projected to reach USD 10.9 billion by 2027 at a CAGR of around 6.7%.
The vehicle power distribution system is used to distribute power to various electronic components in the vehicle. It helps in reducing the number of wires needed for providing power supply and acts as a replacement for various components such as relays, fuses, switches, and others in the electrical circuit system of the vehicle. This system manages the effective and smart distribution of power to different electrical parts which results in inefficient usage of battery and power in a vehicle.
Vehicle Power Distribution Market: Drivers & Restraint
Rising Demand for Electronic Systems in Automotive
The power distribution system is used to distribute electricity to various electronic parts in the vehicle. Growing demand for electric vehicles has boosted the demand for electronic systems. Furthermore, stringent government regulations for lowering CO2 emissions have pushed automotive manufacturers in developing innovative technologies that are rising the demand for electric and autonomous vehicles. As per Edison Electric Institute, in 2018, the total sales of electric vehicles in the US increased to 81%, when compared to 2017.
Thus, the rising demand for electric systems is expected to drive the vehicle power distribution market during the forecast period.
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Growing Adoption of Safety Systems
Safety systems need proper power distribution to function properly and it’s an important factor while driving a vehicle. Government regulations are implemented 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 such as advanced driver-assistance systems (ADAS) which are expected to boost the vehicle power distribution market during the forecast period.
Shortcomings in Technological Innovation in Vehicle Power Distribution System
The vehicle power distribution system consists of two types hardwired power distribution box and configurable power distribution box. A hardwired power distribution box is cost-effective but needs more space as it increases the number of cables required, which results in increasing the overall weight of the vehicle. The increase in automotive weight is a major problem for vehicle power distribution manufacturers. On the other hand, a configurable power distribution box is costly and it helps in lowering the number of components required which results in reducing the overall weight of the vehicle.
Thus, manufacturers need to develop innovative technology that can meet both requirements i.e. cost-effective and weight reduction and its likely to act as a restraint to the market growth.
Vehicle Power Distribution Market: Key Segments
- On the Basis of Type: Configurable Power Distribution Box and Hard-wired Power Distribution Box.
- On the Basis of Components: Wires, Fuses, Controller Area Network (CAN), Relays, Connectors, Switches, and Others.
- On the Basis of Vehicle Type: Internal Combustion Engine (ICE), Electric Vehicles (EVs) and Others.
- On the Basis of Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Vehicle Power Distribution Market: Report Scope
The report on the vehicle power distribution market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Vehicle Power Distribution Market include:
- Eaton (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Lear Corporation
- Sumitomo Electric Industries, Ltd.
- TE Connectivity
- FURUKAWA ELECTRIC CO., LTD.
- YAZAKI Corporation
- LEONI AG
- HORIBA, Ltd.
- Schurter AG
- PKC Group Ltd
- Other Key Companies
Vehicle Power Distribution Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Vehicle Power Distribution Market, by Type
- Configurable Power Distribution Box
- Hard-wired Power Distribution Box
Vehicle Power Distribution Market, by Components
- Controller Area Network (CAN)
Vehicle Power Distribution Market, by Vehicle Type
Internal Combustion Engine (ICE)
Electric Vehicles (EVs)
- Battery Electric Vehicles (BEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Hybrid Electric Vehicles (HEVs)
- Fuel Cell Electric Vehicles (FCEV)
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Vehicle Power Distribution 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 prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
- VEHICLE POWER DISTRIBUTION MARKET BY TYPE, Market Size in USD Million and Units (2019-2027)
- VEHICLE POWER DISTRIBUTION MARKET BY COMPONENTS, Market Size in USD Million and Units (2019-2027)
- VEHICLE POWER DISTRIBUTION MARKET BY VEHICLE TYPE, Market Size in USD Million and Units (2019-2027)
- VEHICLE POWER DISTRIBUTION MARKET BY REGION, Market Size in USD Million and Units (2019-2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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