Fior Markets launched a study titled “Global Automotive Power Distribution Block Market by Component (Can, Fuse, Relay, Others), Type, Vehicle Type, Electric Vehicle, Off-Highway Vehicle Type, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global automotive power distribution block market is expected to grow from USD 7.75 Billion in 2017 to USD 12.01 Billion by 2025 at a CAGR of 5.6% during the forecast period from 2018-2025. Increased demand for secured and effective power distribution block is expanding in case of number of electric vehicles over the globe which is expected to drive the market.
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Fuse segment is held largest market share of 33.40% in 2017
The component segment is classified into can, fuse, relay, others. The fuse segment is dominating the automotive power distribution block market in 2017. It is because of increase in the demand of fuses as they are used in fuse box which might stimulate the growth of the segment.
Configurable power distribution box segment is dominating the market with USD 4.98 billion in 2017
Type segment includes hardwired and configurable. Configurable power distribution box segment is dominating the market over the forecast period because it combines the uses of fuses, relays, microcontrollers, and multiple layers of interconnections into a single integrated assembly to provide power for different uses
Passenger cars segment dominating the market with the largest share of 42.60% in 2017
Vehicle type segment is divided into segments such as passenger cars, LCV and HCV. Passenger cars segment is dominating the market in 2017 due to rise in production of passenger cars and increased demand for premium vehicles and SUVs are some factors fuelling the growth of the passenger car market.
Battery Electric Vehicle (BEV) segment is dominating the market with USD 3.79 billion in 2017
The electric vehicle segment includes Battery Electric Vehicle (BEV), HEV and PHEV. The Battery Electric Vehicle (BEV) segment is growing rapidly with the highest market value in 2017 due to stringent government policies and efficient consumption of energy.
Construction equipment segment is anticipated to grow at the highest CAGR of 9.01% in 2017
The Off-Highway vehicle type includes agricultural tractors and construction equipment. The construction equipment segment is growing at the highest CAGR of 9.01% in 2017 due to rise in development of infrastructure
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately 40.20% in 2017. North America region is dominating the market share due to high shares of North America and Europe which is because of the expansion in the use of number of electric vehicles.
The major players of market include Littelfuse, Inc., Leoni, TE Connectivity, Schneider Electric, Infineon Technologies AG, Eaton, Legrand, Samvardhana Motherson Group and ABB Inc.