NEW YORK, Dec. 4, 2023 /PRNewswire/ — The vehicle power distribution market is estimated to grow by USD 2.30 billion from 2022 to 2027, growing at a CAGR of 6.14%. The vehicle power distribution market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer vehicle power distribution market are Aptiv Plc, BorgWarner Inc., Continental AG, Eaton Corp. Plc, Faurecia SE, Fujikura Ltd., Furukawa Electric Co. Ltd., Koch Industries Inc., KYOCERA Corp., Lear Corp., Leoni AG, Littelfuse Inc., Mersen Corporate Services SAS, Samvardhana Motherson International Ltd., Schaltbau Holding AG, STMicroelectronics International N.V., Sumitomo Electric Industries Ltd., TDK Corp., TE Connectivity Ltd., and Yazaki Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Technavio has announced its latest market research report titled Global Vehicle Power Distribution Block Market 2023-2027
Company Offering:
Aptiv Plc: The company offers vehicle power distribution block solutions such as Electrical distribution systems for EVs.
BorgWarner Inc.: The company offers vehicle power distribution block solutions such as combined Inverter and DC DC Converter for hybrids, plug in hybrid electric, and battery electric vehicles through its subsidiary Delphi Technologies Plc.
Continental AG: The company offers vehicle power distribution blocks with internal fuses and HV interlock.
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By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America is estimated to contribute 29% to the growth of the global market during the forecast period. One of the key factors for the significant growth of the vehicle power distribution market in North America is the existence of developed infrastructures and road networks. The major country which is a key contributor to the regional market is the US as it is home to several players in the international market.
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Impactful driver- Increasing EV sales spurring demand for well-built EV charging infrastructure
Key Trend – Strategic initiatives by vendors in the market field
Major Challenges – The lack of charging infrastructure in potential markets
Market Segmentation
By Type, the market is classified into hardwired and configurable. The hardwired segment is estimated to witness significant growth during the forecast period. The primary application of hardwired power distribution blocks in automotive is the continuous power supply for accessories and systems. Additionally, the key advantage of this segment is that it eliminates the risk of voltage instability during start-up processes. Therefore, such factors are anticipated to fuel the growth of this segment which will drive the market growth during the forecast period.
Technavio Research experts has provided more insights on the market share of segments – View Sample Report
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The lithium iron phosphate battery market size is estimated to grow at a CAGR of 33.65% between 2022 and 2027. The market size is forecast to increase by USD 46,468.81 million.
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Vehicle Power Distribution Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.14% |
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YoY growth 2022-2023 (%) |
5.21 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, Germany, and France |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 17,000 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.
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SOURCE Technavio