The vehicle power distribution market to grow by USD 2.30 billion from 2022 to 2027; the market is fragmented due to the presence of prominent companies like Aptiv Plc, BorgWarner Inc. and Continental AG, and many more- Technavio

NEW YORK, Dec. 4, 2023 /PRNewswire/ — The vehicle power distribution market is estimated to grow by USD 2.30 billion from 2022 to 2027, growing at a CAGR of 6.14%. The vehicle power distribution market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer vehicle power distribution market are Aptiv Plc, BorgWarner Inc., Continental AG, Eaton Corp. Plc, Faurecia SE, Fujikura Ltd., Furukawa Electric Co. Ltd., Koch Industries Inc., KYOCERA Corp., Lear Corp., Leoni AG, Littelfuse Inc., Mersen Corporate Services SAS, Samvardhana Motherson International Ltd., Schaltbau Holding AG, STMicroelectronics International N.V., Sumitomo Electric Industries Ltd., TDK Corp., TE Connectivity Ltd., and Yazaki Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying

Company Offering:

Aptiv Plc: The company offers vehicle power distribution block solutions such as Electrical distribution systems for EVs.BorgWarner Inc.: The company offers vehicle power distribution block solutions such as combined Inverter and DC DC Converter for hybrids, plug in hybrid electric, and battery electric vehicles through its subsidiary Delphi Technologies Plc.Continental AG: The company offers vehicle power distribution blocks with internal fuses and HV interlock.For details on companies and their offerings – Buy report!

By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America is estimated to contribute 29% to the growth of the global market during the forecast period. One of the key factors for the significant growth of the vehicle power distribution market in North America is the existence of developed infrastructures and road networks. The major country which is a key contributor to the regional market is the US as it is home to several players in the international market.

Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

Impactful driver- Increasing EV sales spurring demand for well-built EV charging infrastructureKey Trend – Strategic initiatives by vendors in the market fieldMajor Challenges – The lack of charging infrastructure in potential markets

 Market Segmentation

By Type, the market is classified into hardwired and configurable. The hardwired segment is estimated to witness significant growth during the forecast period. The primary application of hardwired power distribution blocks in automotive is the continuous power supply for accessories and systems. Additionally, the key advantage of this segment is that it eliminates the risk of voltage instability during start-up processes. Therefore, such factors are anticipated to fuel the growth of this segment which will drive the market growth during the forecast period.

Technavio Research experts has provided more insights on the market share of segments – View Sample Report

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The lithium iron phosphate battery market size is estimated to grow at a CAGR of 33.65% between 2022 and 2027. The market size is forecast to increase by USD 46,468.81 million. 

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type 

7 Market Segmentation by Vehicle Type 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio