Automotive Electric System Market

Automotive Electric System Market by Component (Battery, Starter, Alternator, Others) by Application (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Automotive Electric System in terms of revenue?

    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%%

  • Which are the prominent players in the market?

    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..

  • At what CAGR is the market projected to grow within the forecast period?

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

  • What are the driving factors fueling the growth of the market.

    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.

  • Which region accounted for the largest share in the market?

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

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