penetration of hybrid and electric powertrains is driving the Automotive Junction Box Market

Latest News:- Automotive Junction Box Market: Passenger cars is expected to lead the Vehicle Type segment during 2024-2028

Technavio analyzes that the Automotive Junction Box Market is expected to grow at a CAGR of 9.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3994 million.There are various factors that contribute to the growth of the market. The automotive junction box market is witnessing significant growth due to the increasing penetration of hybrid and electric powertrains in the global automotive industry. Junction boxes play a crucial role in managing and distributing electrical power in these advanced powertrains. As the adoption of electric vehicles continues to rise, the demand for robust and efficient junction boxes is expected to increase substantially. These boxes ensure reliable power distribution and protection against electrical hazards, making them an essential component in the shift towards sustainable mobility solutions.

The automotive junction box market experienced significant growth in the passenger car segment in 2023, driven by increasing sales volumes and the reduction of average costs. Conventional passenger cars, including both internal combustion engine (ICE) and electric vehicles (EVs), utilize junction boxes for various electrical functions. These functions include power door unlocking/locking, power seats, and key fob remote unlocking. The battery junction box is a crucial component in EVs, managing the flow of electrical current from the battery to the motor. The central junction box in passenger cars manages the distribution of power to various electrical systems. Despite travel bans and emissions concerns, the automobile manufacturing industry's focus on car protection, improved gas performance, and greenhouse fuel emissions reduction continues to fuel the demand for advanced electrical components like automotive junction boxes. 

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Automotive Junction Box Market Segmentation

• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• Technology
  • Smart junction box
  • Passive junction box
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Amphenol Corp.
• Apparatebau Kirchheim-Teck GmbH
• Aptiv Plc
• BorgWarner Inc.
• Continental AG
• Dejini Systems
• Eaton Corp plc
• Fujikura Co. Ltd.
• Jenkin Electric Co.
• Koch Industries Inc.
• Lear Corp.
• Leoni AG
• M M Sankhla Electricals
• ON Semiconductor Corp.
• Samvardhana Motherson International Ltd.
• Sumitomo Electric Industries Ltd.
• TE Connectivity Ltd.
• Valeo SA
• Vitesco Technologies Group AG
• Yazaki Corp.

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Research Analysis Overview

The global automotive industry is witnessing a significant shift towards vehicle electrification, with electric-powered motors (EVs) gaining popularity over conventional fossil fuels. This transition is leading to the increased use of electrical systems and complicated electric architectures in automobiles. Automotive junction boxes play a crucial role in this transformation, managing electrical energy from batteries and distributing it to onboard electronic structures, including advanced driving force systems, collision avoidance technologies, and electrical current-carrying wires. Fire prevention is a key consideration in the design of automotive junction boxes, which also integrate electronics for electrical problem diagnosis and power distribution via fuses and smart components like eFuse and SmartFET solutions. The growing sales of electric vehicles are driving demand for these electrical components in automobile manufacturing.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various automobile categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Factors fueling growth in this sector include the escalating demand for electronic control units (ECUs) and other electrical components due to the increasing sales of electric vehicles, motorcycles, and passenger cars over the past decade. The automotive industry's shift from conventional fossil fuels to electric-powered motors necessitates the development of intricate electrical systems and onboard electronic structures, further expanding the market potential.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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