Market Size of Automotive Terminals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Terminals Market Analysis
The Automotive Terminals Market was valued at USD 6.0 Billion in the current year and is expected to reach USD 8.0 Billion in the next 5 years, registering a CAGR of 5% during the forecast period.
The COVID-19 pandemic hindered the growth of the automotive industry across regions in the year 2020. Several manufacturing industries were closed. The supply chain management and distribution channels were disrupted due to a shortage of raw materials. However, the automotive industry is now recovering from the losses and paving the way to introduce quality products to cater to the rising demand from consumers across the country. The automotive industry witnessed significant growth in terms of production in 2021, which is likely to increase the demand for automotive terminals during the forecast period.
Over the medium term, a rise in vehicle sales with enhanced safety features is likely to increase the demand for automotive terminals during the forecast period. Automotive Terminals are electromechanical device that is used to connect load or charger with the cell or batteries.
Automotive terminals are available in different sizes, shapes, and specifications. Terminal designs and sizes also depend on the end-use in the automobiles. The increase in safety concerns among consumers, coupled with safety-related initiatives from government agencies, has elevated the requirement for a reliable terminal in various vehicle systems.
Terminals are placed under the hood of automobiles and must have the capacity to withstand high as well as sub-zero temperatures and shocks. Thus, reliability and durability concerns are some functional challenges that hinder the growth of the market. The automotive terminals market has major applications in powertrain systems, followed by safety and infotainment systems.
Automotive Terminals Industry Segmentation
Automotive connector terminals are designed to provide robust and efficient cable connections. Automotive terminals are an electromechanical device that is used to connect load or charger with the cell or batteries.
The automotive Terminals Market is segmented by Current Range, propulsion type, application type, and geography.
Based on the current range, the market is segmented into Below 40 Ampere, 41-100 Ampere, and 100 Ampere.
Based on the Propulsion Type, the market is segmented into IC Engines and Electric Vehicles.
Based on the Application, the market is segmented into Infotainment Systems, Safety and Security Systems, Battery Systems, and Others.
Based on Geography, the market is segmented into North America, Europe, Asia-pacific, and the rest of the World.
For each segment, the market sizing and forecast have been done based on the value (USD Billion).
| Current Range | |
| Below 40 Ampere | |
| 41-100 Ampere | |
| 100 Ampere |
| Propulsion Type | |
| IC Engine | |
| Electric |
| Application | |
| Infotainment System | |
| Safety and Security System | |
| Battery Systems | |
| Others |
| Geography | ||||||||
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Automotive Terminals Market Size Summary
The automotive terminals market is poised for significant growth over the forecast period, driven by the recovery of the automotive industry post-COVID-19 disruptions and the increasing demand for vehicles equipped with advanced safety features. Automotive terminals, which serve as crucial electromechanical connections in vehicles, are becoming increasingly important due to heightened consumer safety concerns and government regulations. The market is experiencing a surge in demand, particularly in powertrain systems, safety, and infotainment systems, as vehicle sales rise and electric vehicles gain traction. The integration of advanced driver assistance systems (ADAS) and the growing acceptance of self-driving vehicles are further propelling the market's expansion, creating lucrative opportunities for industry players.
Regionally, Europe leads in the adoption of safety features, with stringent regulations driving the demand for automotive terminals. The Asia-Pacific region is expected to grow rapidly due to infrastructure development and increased vehicle sales, with China at the forefront due to its extensive use of electronic components in vehicles. North America is witnessing growth driven by the demand for next-generation vehicles and ADAS implementation. The market is highly fragmented, with key players like TE Connectivity, Sumitomo Electric Industries, and Lear Corporation expanding their global presence to capitalize on the trend towards advanced electronics and safety systems in vehicles. These companies are actively enhancing their product offerings and production capacities to meet the rising demand for automotive terminals.
Automotive Terminals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter Five Forces
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Billion)
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2.1 Current Range
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2.1.1 Below 40 Ampere
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2.1.2 41-100 Ampere
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2.1.3 100 Ampere
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2.2 Propulsion Type
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2.2.1 IC Engine
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2.2.2 Electric
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2.3 Application
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2.3.1 Infotainment System
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2.3.2 Safety and Security System
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2.3.3 Battery Systems
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2.3.4 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 South America
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2.4.4.2 Middle-East and Africa
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Automotive Terminals Market Size FAQs
What is the current Automotive Terminals Market size?
The Automotive Terminals Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Automotive Terminals Market?
TE Connectivity, Lear Corporation, Furukawa Electric Co., Ltd., PKC Group Ltd (Motherson) and Viney Corporation Pvt Ltd are the major companies operating in the Automotive Terminals Market.
