Automotive Terminal Market to Grow at Robust CAGR in the COVID-19 Lockdown Scenario(2018-2025)
Automotive terminal is an electronic or electromechanical device that offers vehicle connectivity solutions and is used to connect load or charger with the cells or batteries in automotive vehicles. Since vehicle functionality depends mainly on the proper operation of these electronic devices, it is important that each automotive wire terminal, as well as the connector, is durable and protected.
Demand Scenario
The global automotive terminal market was USD 13.53 billion in 2018 and is estimated to reach USD 27.41 billion by 2025 at a CAGR of 10.61 % during the forecast period
Growth by Region
Asia-Pacific region leads the market owing to the rise in vehicle production and also government mandates on the active and passive safety of vehicles. Also, rising investment in infrastructure, construction activities and also increasing vehicle sales are also expected to drive the growth of the market. On the other hand, North America and Europe are also anticipated to be the fastest growing market for automotive market in the forecasted period due to the rising awareness among people regarding advanced vehicle electronics as well as convenience inside the vehicle.
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Drivers vs Constraints
The global automotive terminal market is mainly driven by higher disposable income among people, the evolution of energy-efficient e-mobility as well as connected, autonomous and also semi-autonomous vehicles are expected to create opportunities. However, the growth of the global automotive terminal market is hindered by design issues in developing terminals for high voltage use, terminal design mainly to handle vibrations and lack of guarantee of long-term reliability of the terminals
Industry Trends and Updates
Delphi Technologies, a global leader in vehicle propulsion has planned to invest in PolyCharge America Inc., a start-up established mainly to commercialize a new capacitor technology. This new technology will help in making high-power inverters smaller, lighter and also more tolerant to high temperatures.
Sumitomo Electric Industries, Ltd., a Japan-based company has planned announced that it will make a capital investment of 8 billion yen into Hokkaido Sumiden Precision Co. Ltd. which is the production base for the group’s cemented carbide inserts. These inserts once produced will help in a variety of industrial fields such as automotive, energy and also aerospace industries.
Covid 19 Impact Analysis@ https://www.trendsmarketresearch.com/report/covid-19-analysis/3936