PUBLISHER: The Business Research Company | PRODUCT CODE: 1391015
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391015
“Automotive Terminal Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive terminal market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive terminal? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive terminal market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive terminals are devices designed to provide durable and efficient cable connections in vehicles. These terminals ensure reliable connections in cars, trucks, and other automotive applications. Automotive connector terminals typically consist of standardized components that facilitate quick and high-quality connections between one or more wires and a header or other wires.
The main types of current ratings for automotive terminals are categorized into three groups including below 40 amperes, 41-100 amperes, and above 100 amperes. The below 40 ampere category refers to automotive terminals with a current rating below 40 amperes, commonly used in vehicle applications such as lighting, accessories, and engine idling. Automotive terminals find applications in various systems within vehicles, including body control and interiors, safety and security, cooling, engine and emission control, infotainment, lighting systems, and battery systems. These terminals are utilized in both passenger and commercial vehicles to ensure efficient and reliable electrical connections.
The automotive terminal market research report is one of a series of new reports from The Business Research Company that provides Automotive terminal market statistics, including automotive terminal industry global market size, regional shares, competitors with an automotive terminal market share, detailed automotive terminal market segments, market trends and opportunities, and any further data you may need to thrive in the automotive terminal industry. This automotive terminal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive terminal market size has grown rapidly in recent years. It will grow from $17.21 billion in 2023 to $19.09 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth observed during the historic period can be attributed to several factors, including the expansion of the automotive industry, the implementation of stringent emission regulations, increasing consumer demand for electronics in vehicles, and overall economic growth.
The automotive terminal market size is expected to see rapid growth in the next few years. It will grow to $28.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecast period can be attributed to several factors, including the continued rise in vehicle production, increased adoption of electric vehicles, growing global urbanization, a rise in per capita disposable income, and government support for the automotive industry. Significant trends expected during this period include the digitalization of manufacturing processes, integration of 5G technology, advancements in materials, the implementation of enhanced safety features, and increased collaboration across industries.
The increasing quantity of automobile production is expected to drive the growth of the automotive terminal market. The rapid growth in disposable income globally, coupled with the rising demand for personal vehicles for daily commutes, has led to an upsurge in demand for both passenger and commercial vehicles. This surge in demand is anticipated to boost the utilization of automotive terminals, which are essential components in vehicle manufacturing. For instance, in April 2022, global motor vehicle production reached 79.1 million units, marking a 1.3% increase compared to 2020, as reported by World Motor Vehicle Production. Therefore, the growing automobile production is likely to contribute to the expansion of the automotive terminals market during the forecast period.
The growth of electric vehicles (EVs) is expected to be a significant driver for the automotive terminal market. Electric vehicles operate using one or more electric motors for propulsion, drawing power from sources such as batteries, fuel cells, or solar panels. Automotive terminals play a crucial role in facilitating electrical connections for power transfer and communication between components in electric vehicles. In 2023, the global electric car market experienced substantial growth, with sales surpassing 10 million units, according to a report by the International Energy Agency. The percentage of electric cars in overall car sales rose from 9% in 2021 to 14% in 2022. Therefore, the increasing adoption of electric vehicles is a key factor propelling the growth of the automotive terminal market.
Technological advancements are a noteworthy trend in the automotive terminal market, with companies focusing on developing advanced products to meet industry demands and strengthen their global market position. For example, JAE Electronics introduced the miniaturized MX79A series high-speed connectors in March 2022. These connectors, designed to support data transmission, improve communication between in-vehicle information and communication technology (ICT) units, such as camera Electronic Control Units (ECUs).
Major companies in the automotive terminal market are strategically introducing hybrid inline connectors to enhance multifunctional connectivity and expand their global presence. An example is the Generation Y 68P Sealed Hybrid Inline Connector, which integrates signal, power, and data connectivity into a single unit. In April 2022, TE Connectivity, a Switzerland-based connector and sensor company, launched the Generation Y 68P Sealed Hybrid Inline Connector designed for low-voltage applications such as cameras and sensors. This connector combines a MATE-AX mini coaxial connector with various contacts and signal circuits, aiming to simplify complex harnesses, reduce costs and weight, and provide a compact solution for OEM industry challenges.
In August 2021, TE Connectivity, an American Swiss-domiciled technology company, acquired ERNI Group AG for an undisclosed amount. This strategic acquisition enhances TE Connectivity's connectivity product range, particularly in high-speed and fine-pitch connectors across sectors like factory automation and automotive. The acquisition also expands TE's engineering capabilities, manufacturing footprint, and market presence. ERNI Group AG, based in Switzerland, specializes in manufacturing a diverse range of electronic connectivity solutions, including Microbridge cable-to-board connectors tailored to meet the stringent demands of the automotive sector.
Major companies operating in the automotive terminal market include Delphi PLC, TE Connectivity Ltd., Pohjolan Kaapeli Oy, Furukawa Electric Co. Ltd., Canadian Automobile Association, Tyco Electronics Ltd., Lear Corp., Molex LLC, Viney Corporation, Grote industries Inc., Keats Groups Ltd., Sumitomo Electric Industries Ltd., Yazaki Corporation, Amphenol Corporation, Aptiv PLC, JST Mfg. Co. Ltd., Kyocera Corporation, Leoni AG, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Samtec Inc., Schlemmer Group, Sumitomo Wiring Systems Ltd., 3M Company, Amphenol Aerospace Corp., Amphenol Industrial Operations Corp., Anderson Power Products, Deutsche Telekom, Esterline Technologies Corp., Glenair Inc., Harwin plc
Asia-Pacific was the largest region in the automotive terminal market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive terminal market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the automotive terminal market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The automotive terminal market consists of sales of pin terminals, receptable terminals, sockets terminals, and tab terminals. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.