Automotive Terminal Global Market Report 2023

Dec 21, 2023

Major players in the automotive terminal market are Delphi PLC., TE Connectivity Ltd., PKC Group, Furukawa Electric, Alstom, Bharat Heavy Electricals Limited, Bombardier, CRRC, Hitachi Ltd., Siemens, Strukton, TOSHIBA CORPORATION, Wabtec Corporation, Grote Industries, Keats Manufacturing Co.

New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Terminal Global Market Report 2023" - https://www.reportlinker.com/p06325397/?utm_source=GNW , Lear Corporation, and Molex LLC.The global automotive terminal market grew from $15.33 billion in 2022 to $17.32 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive terminal market is expected to grow to $26.42 billion in 2027 at a CAGR of 11.1%.The automotive terminal market consists of sales of pin terminals, receptable terminals, sockets terminals, and tab-terminal.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 automotive terminal refer to devices that provide robust and efficient cable connections.The automotive terminals offer reliable connections to cars, trucks, and other vehicles.Automotive connector terminals generally consist of standardized terminals that provide a quick, high-quality connection point between one or more wires and a header or other wire.Asia-Pacific was the largest region in the automotive terminal market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in the automotive terminal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of the current rating of the automotive terminal include below 40 amperes, 41–100 ampere, and above 100 amperes.The below 40 ampere refers to the automotive terminal that utilizes of below 40 amperes current rating in a vehicle.The lighting and accessories and engine idling in vehicles utilize a current rating of less than 40 amperes.The applications of the automotive terminal include body control and interiors, safety and security, cooling, engine and emission control, infotainment, lighting system, and battery system.They are used in both passenger and commercial vehicles.The increasing quantity of automobile production is expected to propel the growth of the automotive terminal market.Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles.The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive terminals, as they are a vital component in the manufacturing of automotive vehicles. For instance, in April 2022, according to world motor vehicle production, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Therefore, the increasing quantity of automobile production is expected to boost the demand for automotive terminals during the forecast period.Technological advancements have emerged as a key trend gaining popularity in the automotive terminal market.The companies operating in the automotive terminal market are focusing on developing advanced products to meet industry demands and strengthen their market position across the globe.For instance, in March 2022, according to a publication by Mouser Electronics, a US-based electronics distributor, JAE Electronics developed the miniatured MX79A series high-speed connectors to support data transmission. The MX79A high-speed connectors improve transmission between in-vehicle information and communication technology (ICT) units such as camera ECU.In March 2020, TE Connectivity, an American Swiss-domiciled technology company that designs and manufactures connectors and sensors acquired First Sensor AG for an undisclosed amount.By combining First Sensor and TE's portfolio, TE will be able to offer a broader product base that includes innovative market-leading sensors, connectors, systems, and best-in-class features to support TE's growth strategy.First Sensor AG is a manufacturer of other measuring and controlling devices for automotive and other industries.The countries covered in the automotive terminal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.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.The automotive terminal market research report is one of a series of new reports 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.Read the full report: https://www.reportlinker.com/p06325397/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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