The market for automotive fuse boxes is expected to reach USD 5.9 billion by 2032, growing at a CAGR of 4.6% from 2022 to 2032. The market is expected to reach USD 3.8 billion in 2022. With growth rates of 5.3% and 5.6% respectively during the forecast years of 2022 and 2032, East Asia and South Asia & Oceania are expected to experience stronger growth in the automotive fuse box market.
Sensing the evolving requirements of the automotive industry, manufacturers have introduced a wide range of automotive fuse boxes. Fuse boxes with 30 to 50 plugs are forecast to endure as the highest selling product, with fuse boxes comprising 50 to 75 plugs also emerging as a remunerative variant. The study envisages 50 to 75 plugs containing automotive fuse boxes to represent a significantly higher growth than their 30 to 50 plugs variants, however the latter continues to reign supreme – in terms of both value and volume during the forecast period.
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Avenues are Being Paved by a Growing Trend of Vehicle Electrification
Vehicle electrification is an emerging trend gaining widespread momentum in urban, traffic planning, and power system studies. Governments, particularly in developed countries, are mandating the shift from internal combustion & hybrid vehicles to fully electric powertrains. Diffusion of electric vehicles significantly affects the power system’s operations.
However it paves a wide range of opportunities for future system developments, such as curtailing the fossil fuel dependency and emissions of environment pollutants. These benefits will continue to drive the trend of vehicle electrification in the near future, albeit challenges prevail regarding power generation and charging of EVs. The trend will further pose a significant impact on development and sales of various auto components, such as automotive fuse boxes.
Competitive Landscape:
The global automotive fuse boxes market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of automotive fuse boxes market.
Fact.MR has provided detailed information about price points of key manufacturers in automotive fuse boxes market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance :
- Hella KGaA Hueck & Co. and Faurecia in 2021 agreed to combine their businesses, with Faurecia acquiring 60% stake of Hella. This partnership is likely to create additional growth potential and to strategically increase investment in research and development
- Eaton in 2022 acquired Royal Power Solutions to capitalize on electrification trend in high-growth markets as there exists numerous growth opportunities with electrification of the economy
Top Companies in Automotive Fuse Boxes Market
- Hella KGaA Hueck & Co.
- MTA Advance Automobile Solution
- LEONI Wiring Systems
- Cooper Industries
- Littelfuse, Inc.
- Eaton
- Mersen
- Blue Sea Systems
- Che Yen Industrial Co. Ltd
Industry Survey
- By Type:
- Blade
- Glass Tube
- Bosch
- Others
- By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- By Mounting:
- Battery Mounted Fuse Boxes
- Others
- By Sales Channel:
-
- OEM
- Aftermarket
Automotive Fuse Boxes Market: North America to Prevail as Fast-Expanding Market
North America continues to endure as fast-expanding market for automotive fuse boxes, in terms of both value and volume. Automotive fuse boxes in North America will be influenced by new facilities being installed by leading automakers such as BMW, Toyota Motor Corp. and Volvo Cars. Supported largely by robust exports from North America, this boom in the automotive industry will push production rate higher in the near future, albeit domestic sales have showcased a slight decline since the recent past.
Future of the automotive component industry in North America will also be impacted by the outcome of NAFTA negotiations, which have grown increasingly fraught recently, thereby posing a direct influence on the automotive fuse boxes market in the region. Although the automotive fuse boxes market in North America will grow at a relatively higher rate vis-à-vis Europe, revenues from the latter will remain significantly larger over the period of forecast.
European automakers are focusing on huge expenditure for making the switch from IC engines to electric power, however outcomes remain hazy with the fact that widespread public acceptance remains undetermined. These factors will directly influence the growth of the auto component industry in the region, thereby affecting the automotive fuse boxes market.
Report Benefits & Key Questions Answered
- Automotive Fuse Boxes Company & brand share analysis: The report offers in-depth Automotive Fuse Boxes brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
- Automotive Fuse Boxes Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Fuse Boxes and projected sales performance for 2021-2031
- Automotive Fuse Boxes Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
- Automotive Fuse Boxes Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
- Post COVID consumer spending on Automotive Fuse Boxes: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
More Valuable Insights on Automotive Fuse Boxes Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Fuse Boxes, Sales and Demand of Automotive Fuse Boxes, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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