Automotive Electric System Market
Automotive Electric System Market Global Industry Assessment & Forecast
#
Pages:
160
2021
Nov - 2021
VMR-2021-0587
Segments Covered
By
Component Battery, Starter, Alternator, Others
-
By
Application Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
24.8 Billion |
 Revenue 2028:
|
107.24 Billion |
 Revenue CAGR
(2021 - 2028): |
20.11% |
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
Research Methodology: Automotive Electric System Market - Global Market Assessment, 2021 - 2028
Automotive Electric System Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
Secondary Research
Primary Research:
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Automotive Electric System market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Automotive Electric System market.
FAQ
Frequently Asked Question
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.
