Automotive Body Electronics and Electrical Market: Introduction
- Automotive body electronics and electrical products are integrated to reduce the effort of humans in driving and maintaining the vehicle. These components perform definite functions such as monitoring and controlling vehicle performance, communication between vehicle and driver or others, enhancing in-cabin comfort and convenience, provide vehicle security from theft, and many such other functions.
- Rise in awareness about better safety, comfort, and convenience has boosted the demand for automotive body electronics and electrical products and subsequently fueled the automotive body electronics and electrical market
Key Drivers of Automotive Body Electronics and Electrical Market
- Automakers are constantly evolving their vehicle models due to changing customer demand, with higher focus on the comfort, safety, and convenience. Growing technological advancements in the automotive sector have led to the emergence of next-generation vehicles that are integrated with advanced drive assist system, lane departure warning system, airbag system, and numerous other systems that have a high number of electronic and electrical products integrated per vehicle. Automakers are also equipping their vehicles with latest connectivity technologies, such as Internet of Things (IoT), LTE, GPRS, and radio connectivity, to monitor and collect information related to the vehicle’s performance. This integration of technology enables vehicle owners to track operational efficiency of their vehicle and ensure its safety. These technologies are also being employed to ensure safety of the vehicle from theft by tracking the vehicle and remotely shutting it. Thus, on-going advancements in vehicles in order to cater to changing customer demands are driving the automotive body electronics and electrical market across the globe.
- Consistent rise in pace of industrialization and trade activities across the globe is boosting the number of on-road commercial vehicles significantly. Moreover, a rise in per capita income has increased the number of on-road passenger vehicles. Rising rate of motorization has boosted pollution levels; consequently, transportation regulatory agencies have introduced stringent emission norms. Automakers have adopted a strategy of powertrain electrification in order to comply with these guidelines enacted by governments. Automobile OEMs have introduced various full electric or hybrid electric vehicle models that have multiple electronic and electrical components mounted along the powertrain. Government agencies have also issued incentives and policies to promote adoption of these vehicles. Availability of multiple vehicle models, subsidy on purchase, and lower operating cost are driving sales of these electric vehicles and consequently, boosting the global automotive body electronics and electrical market.
Restrains in Automotive Body Electronics and Electrical Market
- Integration of electronics and electrical products increases the cost of the vehicle and hence, these components are extensively integrated in premium and luxury variants. Furthermore, integration of these electronic products, which provides the vehicle access to various connectivity networks, makes the vehicle more vulnerable to data threats. These factors restrain the global automotive body electronics and electrical market.
Impact of COVID-19 Pandemic on Automotive Body Electronics and Electrical Market
- The recent outbreak of COVID-19 disrupted automotive supply chains and hampered the sale of vehicles across the globe. This pandemic caused a severe shortage of electronic chips across the globe, which has hampered the production of automobiles. Numerous automakers have announced the cancellation of production various vehicle models due to this shortage, which is estimated to cost the global automotive industry more than US$ 100 billion and slowdown the recovery of automotive sector after the pandemic. This has negatively impacted the global automotive body electronics and electrical market.
Europe and North America to Hold Significant Share of Global Automotive Body Electronics and Electrical Market
- Asia Pacific accounts for a significant share of the global automotive body electronics and electrical market due to a well-established and expanding automotive industry in the region. Countries such as China, Japan, India, and South Korea are leading automobile manufacturers, which contribute to more than 35% of the total global automobile production. This further boosts the demand for automotive body electronics and electrical components in Asia Pacific. Moreover, governments in the region have mandated integration of certain electronic devices such as TPMS and OBD devices. These regulations augment the automotive body electronics and electrical market in Asia Pacific.
Key Players Operating in Automotive Body Electronics and Electrical Market
The global automotive body electronics and electrical market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive body electronics and electrical market are:
- Continental AG
- Cypress Semiconductor
- Denso Corporation
- Fujitsu Semiconductor
- HELLA
- Hitachi, Ltd.
- Hyundai Mobis
- Infineon Technologies
- NXP Semiconductors
- OnStar Corporation
- QUALCOMM
- Renesas Technology Corp
- Robert Bosch
- STMicroelectronics
- Texas Instruments
Global Automotive Body Electronics and Electrical Market: Research Scope
Global Automotive Body Electronics and Electrical Market, by Application
- Vehicle Security
- Vehicle Communication
- Vehicle Monitoring & Control
- Cabin Comfort & Convenience
- Fleet Management
- Others
Global Automotive Body Electronics and Electrical Market, by Component
- MCU
- ICs
- Sensors
- DC-DC converters
- Trackers
- Others
Global Automotive Body Electronics and Electrical Market, by Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicle
- Trucks
- Buses & Coaches
Global Automotive Body Electronics and Electrical Market, by Propulsion
- I.C. Engine Vehicles
- Electric Vehicles
- Hybrid Electric Vehicles
- Plug-in Electric Vehicles
- Battery Electric Vehicles
Global Automotive Body Electronics and Electrical Market, by Sales Channel
Global Automotive Body Electronics and Electrical Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordic Region
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
*86 figures and 60 tables includes