The automotive terminal market is projected to grow at a CAGR of 10.03% during the forecast period, to reach USD 27.14 Billion by 2025 from an estimated USD 12.64 Billion in 2017.
The combination of higher disposable income and increasing awareness of active as well as passive safety of a vehicle among vehicle occupants, increasing amount of vehicle electronics, and the adoption of advanced vehicle technologies such as connected vehicles and self-driving vehicles are expected to drive the automotive terminal market. The increase in vehicle sales in recent years is driven by the changing preferences of vehicle types and lifestyle of young population. Infrastructural development in developing economies is forcing construction companies to use construction vehicles that are equipped with advanced electronically operated prime mover technologies. Modern agricultural vehicles are used extensively in countries like China, India, Japan, and South Africa. All these factors are driving the market for automotive terminal market.
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North America to be the fastest growing market and Asia Pacific to hold the largest market for automotive terminal in 2025
North America is projected to be the fastest growing market for automotive terminal from 2017 to 2025. The market growth in this region can be attributed to the increasing awareness regarding advanced vehicle electronics and convenience inside a vehicle. Asia Pacific is projected to be the largest market for automotive terminal from 2017 to 2025. The market growth in the region can be attributed to factors such as factory fitted advanced electronics and government initiatives regarding the use of environment-friendly electric vehicles.
Cooling, engine & emission control is estimated to hold the largest market share during the forecast period
The automotive terminal market for cooling, engine & emission control segment is estimated to be the largest during the forecast period. It is followed by the safety & security system, body control & interiors, infotainment, lighting system, and battery system. Government norms regarding vehicle emission are increasing the demand for cooling, engine & emission control in the global automotive terminal market. Another factor that is driving the market for cooling, engine & emission control is the significant rise in the sales of modern vehicles in developing countries like China and India.
Below 40 Ampere segment for automotive terminal is estimated to be the largest segment by current rating from 2017 to 2025
The automotive terminal market for below 40 Ampere is estimated to be the largest since it is used in most of the vehicle electronics. Increasing installation of electronic applications that operate in the range of below 40 Ampere such as wiper motor, mirrors, and electronic fuel injection is likely to drive the growth of this segment.
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Key Market Players:
The automotive terminal market is dominated by a few globally established players such as TE Connectivity (Switzerland), Delphi (UK), Furukawa Electric (Japan), and PKC Group (Finland).
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