AUTOMOTIVE ELECTRIC PRODUCTS MARKET TO REACH $110 BILLION BY 2011
According to a new report from Innovative Research and Products (iRAP) titled “Automotive Electric Products – An Industry and Market Analysis (ATP-110),” the global automotive electric products market growth will continue despite slowing auto sales and production. iRAP estimates that the worldwide automotive electric products market will reach $74 billion in 2006.
Lights, heating, ventilation, radiator fans, power windows, and entertainment systems all place electrical "loads" on the car's battery – that is, they draw power from it – and recharging the battery, in turn, places a constant load on the engine. Some cars employ more than 35 electric motors in various ways.
As consumers demand ever more sophisticated and feature-loaded vehicles, the global automotive industry faces growing challenges to balance these expectations with space constraints and weight concerns. Every component receives scrutiny to determine if it can be made smaller and lighter to promote fuel efficiency and performance and help fit more content into the available space. In addition, vehicle manufacturers and suppliers must increasingly consider environmental concerns such as recyclability, as well as overall performance. Electrical loads in vehicles today are growing every year resulting in consequent increases in cable harness, power distribution box, relay, and switch ratings, as well as costs.
The iRAP study focuses on key automotive electric products, and provides data about the size and growth of the automotive electric products market, company profiles and industry trends.
The report provides market in North America, Europe, Japan, China, India, Korea and the rest of the world (ROW) for automotive electric products and potential business opportunities in the future.
This study explores the proliferation of electrical products into the automotive platform with a special focus on lighting, battery, alternator, starter, switches, ignition systems, wiring harnesses, motors, solenoids, relays, fuses, spark plugs and other products. The report identifies and evaluates automotive electric product markets and technologies with keen potential growth.
The study provides the most complete accounting of automotive electric products market growth in North America, Europe, Japan, Korea and the rest of the world.
- Automotive electric products market growth will continue despite slowing auto sales and production.
- The worldwide automotive electric products market will reach $74 billion in 2006 and will continue to grow at an AAGR of 8.1% to reach $110 billion by 2011.
- From 2006 to 2011, electric motors, switches, wiring harness, solenoids, etc. will show the highest growth rate, 11%, followed by ignition system at an AAGR of 9.3 %, and lighting and battery at 7.7%.
- The automotive electrical products business is an OEM business as well as consumer aftermarket. It requires modest technology for manufacturing, so there are a large number of players besides tier-one suppliers, and there is stiff price competition for all the ten automotive electric products.
GLOBAL MARKET FOR AUTOMOTIVE ELECTRIC PRODUCTS, THROUGH 2011 (US $ million)
|Market ($ Billion)
Source: iRAP, Inc
ILLUSTRATION OF GLOBAL MARKET FOR AUTOMOTIVE ELECTRIC PRODUCTS THROUGH 2011 ($ BILLIONS)
Source: iRAP, Inc