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Automotive Electric System Market

Automotive Electric System Market

Automotive Electric System Market Global Industry Assessment & Forecast

# Pages:

160

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0587

Segments Covered
  • By Component Battery, Starter, Alternator, Others
  • By Application Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 24.8 Billion
Revenue 2028Revenue 2028: 107.24 Billion
Revenue CAGRRevenue CAGR (2021 - 2028): 20.11%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
FAQ
Frequently Asked Question
  • The global Automotive Electric System valued at 24.8 Billion in 2020 and is expected to reach 107.24 Billion in 2028 growing at a CAGR of 20.11%%.

  • The prominent players in the market are Delphi Automotive PLC, Eberspaecher Holding GmbH, Stanley Electric Co., NSK, Sumitomo Electric Industries, Nexteer Automotive, Robert Bosch GmbH, Hitachi Automotive Systems, Brose Fahrzeugteile GmbH, Mitsubishi Electric Corp., Denso Corp., Sumitomo Electric Industries, Valeo SA, Draexlmaier Group, Lear Corp..

  • The market is project to grow at a CAGR of 20.11%% between 2021 and 2028.

  • The driving factors of the Automotive Electric System include

    • The increasing shift of consumers towards purchasing advance vehicles is anticipated to augment the growth of the automotive electric system market during the forecast period. This is attributable to the rabid urbanization and rise in the purchasing power of people across the globe. The consumers look forward to advance electrical and electronics solutions in automobiles for better driving experience. For instance, there is growth in demand of advanced driver assistance system (ADAS) by the consumers which is gaining popularity among the consumers. It is a human-machine interface that automates and enhances the vehicle system in order to ensure safety, security and convenience to the driver and the passengers.
    • The growing sale of luxury cars have is anticipated to augment the growth of the automotive electric system market during the forecast period. This is attributable to the increasing improvement in dynamics. Furthermore, increase in global sales of automobiles has also caused a major inclination towards the adoption of personal vehicles which is in turn expected to support the growth of the automotive electric system market over the forecast period.

  • Asia Pacific was the leading regional segment of the Automotive Electric System in 2020.