Dallas, TX / CRWE PRESS RELEASE / July 10, 2022 - According to the recent study the automotive power distribution box market is projected to reach an estimated $18.3 billion by 2027 from $10.2 billion in 2021, at a CAGR of 10.2% from 2022 to 2027. Growth in this market is primarily driven by growing electronic content per vehicle, growth in vehicle production, and stringent government regulation for passenger safety.
Browse 102 figures / charts and 77 tables in this 170-page report to understand trends, opportunities and forecast in automotive power distribution boxs market by box type (hardwired and configurable), component (fuse, relay and others), vehicle type (passenger cars, light commercial vehicles, and electric vehicles), end-user (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Configurable market is expected to remain the largest segment during the forecast period.”
Based on box type, the automotive power distribution box market is segmented into hardwired and configurable. Lucintel forecasts that the configurable market is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing use of microcontrollers and multiple circuit boards per vehicle.
“Asia Pacific will dominate the automotive power distribution box market in near future”
Asia Pacific is expected to be the largest region over the forecast period due to the higher vehicle production and economic growth and Europe is expected to witness significant growth over the forecast period due to growth in electronic cockpit system.
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Major players of automotive power distribution boxes market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Eaton Corporation, Lear Corporation, Sumitomo Electric, TE Connectivity, Yazaki, Littlefuse, Leoni Group, Furukawa Electric Group, PKC Group, and Minda Corporation are among the major automotive power distribution boxes providers.
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