World Automotive Electrical Products market is projected to grow at a compounded annual rate of 3.9% during the analysis period 2001-2010 and reach about US$52 billion by 2010. Europe, accounting for an estimated share of 27.83% in 2006, constitutes the largest market, while, in terms of growth rate, Asia-Pacific and Latin America are forecast to surpass all other regions. Automotive Connectors market is projected to emerge as the fastest growing segment in the global automotive electrical products market with a CAGR of over 11% during the 2001-2010 analysis period.
San Jose, California (PRWEB) July 17, 2007 -- Automotive Electrical Products market is about to witness a tremendous change in the near future with the advent of 42-volt (42V) electrical system replacing the present 14V system. Introduction of 42V system increases demand for a variety of equipment including integrated starter alternators, high intensity lighting systems, wiring harnesses, connectors, power steering systems and several other electrical and electronic equipments.
Miniaturization and integration are expected to increase considerably in the automobile industry. The major concentration would be on realizing small size with adequate cooling at an assured low cost. Miniaturization and integration demand electronic systems that can withstand high temperatures. Some of the new products in the world of automotive electrical include night vision, electronic power steering system, onstar mobile concierge service, intelligent cruise control, collision-warning systems, smart airbags, antilock-braking systems (ABS), drive-by-wire systems, smart sensors, and telematics.
The market for automotive electrical products is driven by various factors including new technological innovations that demand more power, and government regulations regarding fuel economy and emission control. Increasing electronic content in automobiles is expected to drive growth of electrical components.
Europe, Japan and North America represent the major markets for automotive electrical products worldwide, with a wide number of vehicles used and manufactured in these regions. Asia-Pacific and Latin America, on the other hand, epitomize the fastest growing markets for automotive electrical products. Eastern European countries are expected to increase their market shares significantly in the future.
Automotive Connectors market is projected to emerge as the fastest growing segment in the global automotive electrical products market with a CAGR of over 11% during the 2001-2010 analysis period. Automotive connectors have been slowly evolving into a major component of modern automobiles. A wide range of new applications such as advanced in-car entertainment systems, and intelligent driving systems among others have been the major drivers of growth in automotive connectors in the recent past. The advent of intelligent driving systems such as AFS, telematics, collision warning systems, and collision control systems have been the major drivers of growth for automotive connectors.
Automotive Batteries market, the second largest segment for automotive electrical products, is estimated to account for a market share of 19.8% in 2006. Asia-Pacific, the fastest growing market, is expected to exceed the US sales by 2008 to become the second largest market for automotive connectors. The region is projected to grow at a CAR of 10.5% over the analysis period. Automotive battery has truly attained a global status with increasing number of automotive components. The recent years has seen the growing impact of technology into this sector. All the major players have commenced the incorporation of advanced technology for raising their profitability.
Driven by advanced lighting systems, automotive lighting equipment market is projected to witness the second fastest growth, registering a CAGR of 4.8% during the analysis period 2001-2010. Asia-Pacific is projected to register sales of US$2.3 billion by 2010 and emerge as the largest market for automotive lighting equipment. Latin America is the fastest growing market registering a CAGR of 9.8% over the analysis period.
Advanced technologies such as Light-Emitting Diodes (LED), High-Intensity Discharge (HID), and Neon lighting are having a strong impact on the automotive lighting sector. The global automotive lighting industry has become more competitive with companies unveiling new technologies to improve product performance, safety and styling. Global automotive alternators and starters market is projected to reach a total of US$8.6 billion by 2010. Europe was the largest market for alternators and starters in 2006 closely followed by Asia-Pacific and Japan. However, by the end of the forecast period, Asia-Pacific is likely to attain the leading position, leaving behind Europe and Japan.
Major competitors profiled include Advanced Lighting Technologies Inc., Automotive Lighting Reutlingen GmbH, BERU AG, Decoma International Corp., Delphi Corporation, Denso Corporation, East Penn Manufacturing Company, Inc., Exide Technologies, Inc., Federal-Mogul Corporation, F.I.A.M.M SpA, GS Yuasa Corporation, Guide Corporation, Hella KGaA Hueck & Co., Hitachi Automotive Products (USA), Inc., Ichikoh Industries Ltd., Johnson Controls Inc. Koito Manufacturing Company Ltd., NGK Spark Plug Co., Ltd., OSRAM GmbH, Philips Lighting B.V., Philips LumiLeds Lighting Company, Remy International, Inc., Robert Bosch GmbH, Siemens VDO Automotive Corporation, Stanley Electric Co. Ltd., Valeo SA and Visteon Corporation.
For more details about this research report, please visit www.strategyR.com/MCP-1009.asp.
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