Car Electrical Product Market: Current Analysis and Forecast (2022-2030)

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Emphasis on Vehicle Type (Hatchback, Sedan, SUV, and Luxury Vehicle), By Component (Automobile Battery, Automobile Ignition System, Automotive Computer Chips and Sensors, Automotive Electrical Wirings, and Others), By Application (Power Train Electrical System, Body Electrical System, Chasis Electrical System, Safety Electrical System, and Entertainment Electrical and Electronic System), and By Sales Channel (OEMs and Aftermarket) Region/Country.

Detailed Analysis of COVID-19 Impact on the Car Electrical Product Market

Pages:

173

Table:

82

Figure:

106

Report ID:

UMAU211758

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Report Description

Car Electrical Product Market
Car Electrical Product Market

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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.

Car Electrical Products System Market Report Coverage

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Car Electrical Product Market
Car Electrical Product Market

 “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.

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.

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1.1.Market Definitions
1.2.Main Objective
1.3.Stakeholders
1.4.Limitation
2.1.Research Process of the Car Electrical Product Market
2.2.Research Methodology of the Car Electrical Product Market
2.3.Respondent Profile
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5GLOBAL CAR ELECTRICAL PRODUCT MARKET COVID-19 IMPACT
6GLOBAL CAR ELECTRICAL PRODUCT MARKET REVENUE, 2020-2028F
7.1.Hatchback
7.2.Sedan 
7.3.SUV 
7.4.Luxury Vehicles
8.1.Automobile Battery
8.2.Automobile Ignition System
8.3.Automotive Computer Chips and Sensors
8.4.Automotive Electrical Wirings
8.5.Others 
9.1.Power Train Electrical System
9.2.Body Electrical System
9.3.Chasis Electrical System
9.4.Safety Electrical System
9.5.Entertainment Electrical and Electronic System
10.1.OEMs
10.2.Aftermarket Sales
11.1.North America Car Electrical Product Market
 11.1.1.U.S.  
 11.1.2.Canada  
 11.1.3.Rest of North America
11.2.Europe Car Electrical Product Market
 11.2.1.Germany  
 11.2.2.U.K.  
 11.2.3.France  
 11.2.4.Italy  
 11.2.5.Spain  
 11.2.6.Rest of Europe 
11.3.Asia-Pacific Car Electrical Product Market
 11.3.1.China  
 11.3.2.India  
 11.3.3.Japan  
 11.3.4.Rest of Asia-Pacific 
11.4.Rest of the World Car Electrical Product Market
12.1.Market Drivers
12.2.Market Challenges
12.3.Impact Analysis
13CAR ELECTRICAL PRODUCT MARKET OPPORTUNITIES
14CAR ELECTRICAL PRODUCT MARKET TRENDS
15.1.Demand Side Analysis
15.2.Supply Side Analysis
16VALUE CHAIN ANALYSIS
17CASE STUDY
18STRATEGIC INSIGHTS
19.1.Competitive Landscape
 19.1.1.Porters Fiver Forces Analysis
20.1.DENSO CORPORATION
20.2.NGK SPARK PLUG CO., LTD.
20.3.Continental AG 
20.4.ZF Friedrichshafen AG
20.5. Robert Bosch GmbH
20.6.Infineon Technologies AG
20.7.Hitachi Astemo Americas, Inc
20.8.AISIN CORPORAION 
20.9.Schaeffler Group USA Inc
20.10.MAHLE GmbH 
21DISCLAIMER

Research Methodology

Research Methodology for the Car Electrical Products System Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global car electrical products market were the three major steps undertaken to create and analyze the adoption of car electrical products in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global car electrical products market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the car electrical products market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the car electrical products market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type, component, application, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the car electrical products market. Further, we conducted factor analysis using dependent and independent variables such as vehicle type, component, application, and sales channel of the car electrical products market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the car electrical products market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global car electrical products market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the car electrical products market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global car electrical products market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Car Electrical Product Market
Car Electrical Product Market

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global car electrical products market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the vehicle type, component, application, and sales channel in the global car electrical products market.

The main objective of the Global Car Electrical Products System Market Study

The current & future market trends of the global car electrical products market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the car electrical products market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of the vehicle type, component, application, and sales channel.
  • Define and analysis of the regulatory framework for the car electrical products industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the car electrical products market for the major region
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
  • Company profiles of the car electrical products market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

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