The motor vehicle electrical and electronic equipment global market refers to the production and sale of electronic and electrical components and systems that are installed in motor vehicles, including passenger cars, commercial vehicles, and other types of vehicles. The market includes a wide range of products, such as battery management systems, infotainment systems, electronic control units, sensors, and electric power steering systems.
The global motor vehicle electrical and electronic equipment market is projected to reach ~USD 120 billion by 2025, growing at a CAGR of +5% during the forecast period.
The Asia Pacific region dominated the market, accounting for the largest share of the market in 2020, due to the presence of major automobile manufacturers and increasing demand for electric and hybrid vehicles.
The motor vehicle electrical and electronic equipment market is highly competitive and fragmented, with many players operating in the market. Some of the key players in the industry include:
One of the major trends in the motor vehicle electrical and electronic equipment market is the increasing demand for electric and hybrid vehicles, which require more advanced electrical and electronic systems than traditional gasoline vehicles. This trend is being driven by factors such as government regulations aimed at reducing carbon emissions and increasing consumer awareness of the environmental impact of traditional gasoline vehicles.
Another major trend is the increasing use of advanced driver assistance systems (ADAS) and autonomous driving technologies, which require sophisticated electrical and electronic systems to operate. These technologies are expected to become increasingly common in the coming years, as automakers seek to improve vehicle safety and enhance the driving experience.
The motor vehicle electrical and electronic equipment market presents several opportunities for growth, including the increasing demand for electric and hybrid vehicles, the growing market for ADAS and autonomous driving technologies, and the increasing demand for connected car technologies. However, the industry also faces several threats, including the risk of supply chain disruptions, increasing competition, and the potential for regulatory changes that could impact demand for certain products.
The motor vehicle electrical and electronic equipment market is subject to a range of regulatory and legal issues, including regulations related to vehicle safety, emissions standards, and intellectual property protection. In addition, the industry is likely to be impacted by changes in regulations related to data privacy and cybersecurity, as connected car technologies become increasingly common.
The target demographics of the motor vehicle electrical and electronic equipment market are primarily automotive manufacturers and suppliers. Pricing trends in the industry vary depending on the type of product, with more advanced and sophisticated products typically commanding higher prices. In addition, pricing trends can vary by region, with prices typically higher in developed markets such as North America and Europe compared to emerging markets in Asia and Latin America.
The motor vehicle electrical and electronic equipment global market is expected to continue to grow in the coming years, driven by increasing demand for electric and hybrid vehicles, ADAS and autonomous driving technologies, and connected car technologies. However, the industry faces several challenges, including increasing competition and the potential for supply chain disruptions and regulatory changes. To succeed in this rapidly evolving market, companies must be able to innovate quickly and adapt to changing market conditions.