An automobile battery provides sufficient amount of energy to the electrical components in the automobile such as wipers, starting motor and head lights. However, the capacity of this battery is limited and it is incapable of supplying continuous power to the automobile for an extended period of time. Thus, it is of utmost importance to keep the battery fully charged in order to supply an uninterrupted flow of electricity to each of the electrical components at the required time. The automobile consequently requires a charging system that helps to produce the required level of electricity, thereby keeping the battery in a fully charged condition. Two basic types of charging systems have been in use for automotive charging. DC generators were in use previously, which were discontinued in the 1960s. Since then, the AC alternator has been the charging device of predominant use. However, both DC generator and AC alternator use the similar operating principles.
The primary function of the automotive charging system is to power all the electrical systems and components in the automobile and supply electrical energy which is needed to charge the battery. The automotive charging system enables the production of electricity to supply it in required amount to the electrical components and recharge the battery, while the engine is running. It is this charging system which generates the current to operate all the electrical accessories of the automobile while the engine is in operation. In case of an increase in the electrical demand and a drop in the output of the charging system equal to the battery’s voltage, the charging system and the battery work together to supply the current.Rapid technological advancements that are aimed at developing efficient charging solutions is fueling the growth of the global automotive charging system market. Additionally, growing awareness and the ongoing environmental friendly efforts worldwide is driving the demand for electric vehicles, which in turn is boosting the growth of the automotive charging system market.
The global automotive charging system market can be segmented on the basis of charging voltage level into Level 1, Level 2 and Level 3. Level 1 charging level ranges form 0V-120V, level 2 ranges from 121V-240V and Level 3 ranges from 241V and above. Out of these, the Level 2 chargers are expected to gain the higher share of the global market, owing to their suitability of application for both commercial and home applications Based on the mode of charging, the market can be bifurcated into wireless charging systems and plug-in charging systems.
Further, the global automotive charging market can be segmented, on the basis of components into, alternator, voltage regulator, battery, drive belt and others. In addition, the market can be geographically classified broadly into five regions, namely: North America, Europe, Asia Pacific, South America and Middle East and Africa. The highest penetration of electric vehicles is observed in the developed regions of North America and Europe, which in turn is strongly driving the growth of the automotive charging systems market in these regions. Asia Pacific represents the most lucrative market for automotive charging systems owing to the rapidly increasing number of electric vehicles in the emerging countries of this region. The major countries contributing to the growth of the market include China, Taiwan, South Korea and Japan.
The major players in the automotive charging system market include AeroVironment Inc. (U.S.), General Electric Company (U.S), Tesla Motors, Inc. (U.S.), Siemens AG (Germany), Delphi Automotive LLP (U.S.), Evatran Group, Inc. (U.S.), Schneider Electric SE (France), ClipperCreek, Inc. (U.S.), Eaton Corporation Plc. (Ireland), Elektromotive Limited (U.K.), Robert Bosch GmbH (Germany) and Delta Electronics Inc. (Taiwan) among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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