Global Automotive Junction Box Market 2018-2022 | Increasing Electric Applications in Vehicles to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2018-- analysts forecast the global automotive junction box market to grow at a CAGR of nearly 8% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181203005565/en/
Technavio has released a new market research report on the global automotive junction box market for the period 2018-2022. (Graphic: Business Wire)
Light-weight and heat resistant composites for electrical components is one of the major trends being witnessed in the . The automotive industry is witnessing a structural shift toward lightweight materials, engine downsizing, and compact vehicle structure mainly to achieve higher fuel-efficiency. With wiring harnesses getting denser, space in vehicle columns and headliners is getting cramped up. These concerns are pushing OEMs and component suppliers to opt for lightweight wiring materials such as aluminum.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive junction box market is the increasing electric applications in vehicles:
Global automotive junction box market: Increasing electric applications in vehicles
The global automotive industry is witnessing the emergence of advanced automotive electronics systems and related technologies. The increasing electrification of electronics in the industry is leading to the development of intelligent mobility solutions and technologies. Automobiles today have enhanced functionalities and are energy-efficient as they are equipped with advanced electronics.
According to a senior analyst at Technavio for research on automotive components, “In the automotive industry, the safety bar has also been considerably raised as global automakers are looking for growth opportunities by continually enhancing automobile safety. The automotive electronics industry is experiencing rapid growth owing to greater miniaturization and increasing use of advanced, lightweight materials, and the internet of things. Various automotive systems have evolved from being completely mechanical, hydraulic, or electro-hydraulic to full-fledged electronics.”
Global automotive junction box market: Segmentation analysis
The global automotive junction box market research report provides market segmentation by vehicle type (conventional passenger cars, conventional commercial vehicles, electric passenger cars, and electric commercial vehicles) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC led the market in 2017 with a share of over 53%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181203005565/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING OTHER MANUFACTURING AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/03/2018 09:31 AM/DISC: 12/03/2018 09:31 AM