New York, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Terminal Global Market Report 2022" - https://www.reportlinker.com/p06325397/?utm_source=GNW
, Lear Corporation, and Molex LLC.
The global automotive terminal market is expected to grow from $13.45 billion in 2021 to $15.10 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The automotive terminal market is expected to reach $22.00 billion in 2026 at a CAGR of 9.9%.
The automotive terminal market consists of sales of automotive terminal products by entities (organizations, sole traders, and partnerships) that refer to devices that provide robust and efficient cable connections.The automotive terminals offer reliable connections to cars, trucks, and other vehicles.
Automotive connector terminals generally consist of standardized terminals that provide a quick, high-quality connection point between one or more wires and a header or other wire.
The main types of the current rating of the automotive terminal include below 40 amperes, 41–100 ampere, and above 100 amperes.The below 40 ampere refers to the automotive terminal that utilizes of below 40 amperes current rating in a vehicle.
The lighting and accessories and engine idling in vehicles utilize a current rating of less than 40 amperes.The applications of the automotive terminal include body control and interiors, safety and security, cooling, engine and emission control, infotainment, lighting system, and battery system.
They are used in both passenger and commercial vehicles.
Asia Pacific was the largest region in the automotive terminal market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive terminal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automotive terminal market research report is one of a series of new reports that provides Automotive terminal market statistics, including automotive terminal industry global market size, regional shares, competitors with an automotive terminal market share, detailed automotive terminal market segments, market trends and opportunities, and any further data you may need to thrive in the automotive terminal industry. This automotive terminal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing quantity of automobile production is expected to propel the growth of the automotive terminal market.Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles.
The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive terminals, as they are a vital component in the manufacturing of automotive vehicles. For instance, in April 2022, according to world motor vehicle production, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Therefore, the increasing quantity of automobile production is expected to boost the demand for automotive terminals during the forecast period.
Technological advancements have emerged as a key trend gaining popularity in the automotive terminal market.The companies operating in the automotive terminal market are focusing on developing advanced products to meet industry demands and strengthen their market position across the globe.
For instance, in March 2022, according to a publication by Mouser Electronics, a US-based electronics distributor, JAE Electronics developed the miniatured MX79A series high-speed connectors to support data transmission. The MX79A high-speed connectors improve transmission between in-vehicle information and communication technology (ICT) units such as camera ECU.
In March 2020, TE Connectivity, an American Swiss-domiciled technology company that designs and manufactures connectors and sensors acquired First Sensor AG for an undisclosed amount.By combining First Sensor and TE’s portfolio, TE will be able to offer a broader product base that includes innovative market-leading sensors, connectors, systems, and best-in-class features to support TE’s growth strategy.
First Sensor AG is a manufacturer of other measuring and controlling devices for automotive and other industries.
The countries covered in the automotive terminal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06325397/?utm_source=GNW
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