Rising Demand For Electronic Systems In Automotive To Propel The Vehicle Power Distribution Market Growth

Vehicle Power Distribution Market Size, Share, Trends, Growth, Analysis, Research

Global Vehicle Power Distribution Market: Key Highlights

  • According to the new market research report Vehicle Power Distribution Market by Type (Configurable Power Distribution Box and Hard-wired Power Distribution Box), by Components (Wires, Fuses, Controller Area Network (CAN), Relays, Connectors, Switches, and Others), by Vehicle Type (Internal Combustion Engine (ICE), Electric Vehicles (EVs) and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2019 to 2027)”, the global vehicle power distribution market is estimated to reach USD 10.9 Billion by 2027 at a CAGR of around 6.7% during the review period.
  • Rising demand for electronic systems in automotive is a key factor driving the demand for vehicle power distribution market.
  • However, shortcomings in technological innovation in-vehicle power distribution system remains a major restraining factor for the market growth.

Global Vehicle Power Distribution Market: Key Market Dynamics

  • Safety systems need appropriate power distribution to function properly. Government regulations imposed for safety in the vehicle have pushed automotive manufacturers to introduce various safety systems such as advanced driver-assistance systems (ADAS) which are expected to promote the vehicle power distribution market during the assessment period.
  • The rising demand for electric vehicles has boosted the demand for electronic systems and power distribution system is used to distribute power to various electronic parts in the vehicle. Thus, the growing demand for electronic systems is expected to drive the vehicle power distribution market.
  • The growing adoption of semi-autonomous and autonomous vehicles is anticipated to boost the vehicle power distribution market in the future.
  • Adding design complexity and reliability issue is likely to act as a challenge for market growth.

Global Vehicle Power Distribution Market: Regional Overview

  • Asia-Pacific

The growth in the Asia-Pacific region is mainly attributed to the rising adoption towards safety systems and increasing sales and production of electric vehicles. This region has witnessed high usage of electronic systems due to the adoption of electric and autonomous vehicles in countries such as Japan, South Korea, and China. The growing adoption of electric vehicles and the growing purchasing power of the population increases the market growth for the vehicle power distribution market.

  • Europe

In Europe, the growing demand for luxury light-duty vehicles, the rising penetration of electric vehicles and using advanced electronic and safety systems in the vehicle have boosted vehicle power distribution market growth. The growing adoption of electric vehicle sales by automotive manufacturers present in countries such as Norway, Germany, UK, and France is further promoting the growth for automotive development.

Global Vehicle Power Distribution Market: Key Players Overview

  • Eaton:

Eaton is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and eMobility. In October 2019, Eaton has introduced new flex power distribution unit (PDU) to deliver safe power for high-voltage electrified commercial vehicles. Flex PDU protects vital components but it’s also an intelligent unit that provides information to the original equipment manufacturer (OEM) via the Controller Area Network (CAN), where most power is being consumed to maximize efficiency and performance.

  • TE Connectivity:

TE Connectivity is a Swiss-based company that manufactures and designs sensor products and connectivity solutions for various industries such as data communication systems, automotive, aerospace, medical, oil and gas, industrial equipment, consumer electronics, and energy. In June 2019, TE Connectivity completes its acquisition of KISSLING Elektrotechnik GmbH. With this acquisition, the company further expands Kissling’s range of products into its existing portfolio of hybrid and electric mobility solutions (HEMS).

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Published : 2020-02-05