What is Global Automotive Terminal Market?
The Global Automotive Terminal Market is a vast and dynamic sector that plays a crucial role in the automotive industry. This market revolves around the production and distribution of automotive terminals, which are essentially the end points of a conductor in an electrical device. These terminals are used to connect wiring to a power or ground source, and are vital components in any vehicle. The global market for these terminals is vast, covering a wide range of types and applications. The market's value was estimated at US$ 11730 million in 2023, and it is projected to grow significantly in the coming years, reaching an estimated value of US$ 18740 million by 2030. This growth is driven by various factors, including technological advancements, increasing demand for vehicles, and the need for more efficient and reliable electrical systems in vehicles.
Spade Type, Crimp Type, Others in the Global Automotive Terminal Market:
The Global Automotive Terminal Market is segmented into various types, including Spade Type, Crimp Type, and others. Spade Type terminals are widely used due to their ease of installation and removal. They are typically used in applications where frequent disconnection and reconnection of the terminal is required. Crimp Type terminals, on the other hand, provide a more secure and reliable connection, making them ideal for applications where the terminal is not expected to be disconnected frequently. Other types of terminals include ring and hook types, each with their own unique advantages and applications. The choice of terminal type depends on various factors, including the specific requirements of the application, the type of wire being used, and the environmental conditions in which the terminal will be used.
Passenger Cars, Commercial Vehicles in the Global Automotive Terminal Market:
The Global Automotive Terminal Market finds its usage in various areas, including Passenger Cars and Commercial Vehicles. In Passenger Cars, these terminals are used in various systems, including the electrical, lighting, and infotainment systems. They play a crucial role in ensuring the smooth operation of these systems, providing a reliable and efficient connection for the transfer of electrical power. In Commercial Vehicles, these terminals are used in a wider range of applications, including the powertrain, lighting, and safety systems. They are also used in the vehicle's communication systems, providing a vital link between the vehicle's various electronic devices. The use of these terminals in both Passenger Cars and Commercial Vehicles is expected to increase in the coming years, driven by the increasing demand for more advanced and reliable electrical systems in vehicles.
Global Automotive Terminal Market Outlook:
Looking at the market outlook, the Global Automotive Terminal Market is on a promising growth trajectory. In 2023, the market was valued at a substantial US$ 11730 million. However, this is just the beginning. The market is expected to witness a significant surge, reaching a staggering US$ 18740 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period from 2024 to 2030. This growth can be attributed to various factors, including technological advancements in the automotive industry, increasing vehicle production, and the growing need for efficient and reliable electrical systems in vehicles.
| Report Metric | Details |
| Report Name | Automotive Terminal Market |
| Accounted market size in 2023 | US$ 11730 million |
| Forecasted market size in 2030 | US$ 18740 million |
| CAGR | 6.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Lear (USA), Yazaki (Japan), Aptiv (USA), Hitachi Metals (Japan), Furukawa Electric (Japan), Kyungshin (Korea), Haldex (Sweden), China Auto Electronics Group (China) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
