Vehicle Power Distribution Module Market Technological Advancements, Growth Opportunity and Forecast
Vehicle power distribution modules in automotive vehicles distribute power to different parts of engines and vehicle parts, which are run by electrical components.
[USPRwire, Fri Apr 19 2019] The automobile industry has witnessed an overhaul in the design of power distribution systems due to the electrification of vehicles. Due to this trend, there has been an increase in the need to reduce the total number of electrical components and parts in a vehicle, which has led to an increase in the demand for vehicle power distribution modules. Moreover, the growing vehicle fleet due to an increase in urban population and individual buying power, is expected to create substantial growth opportunities for the Vehicle Power Distribution Module Market over the forecast period.
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Vehicle power distribution modules in automotive vehicles distribute power to different parts of engines and vehicle parts, which are run by electrical components. Vehicle power distribution modules act as a direct replacement for various parts in a vehicle electrical circuit system, as they can replace the function of fuses, relays, and switches, as well as significantly reduce the number of wiring between them. Vehicle power distribution modules feature a number of outputs, and have the capacity to accept a number of fuses & relays, and are customizable as per vehicle and equipment needs. Vehicle power distribution modules are an important part of the electrical circuit system of vehicles, as they manage the smart and effective distribution of power to various electrical components and parts, thus managing the effective usage of battery and power in a vehicle. With a consistent increase in the sales of vehicles across the world, the vehicle power distribution module market is expected to register robust growth in the coming years.
The automobile industry has witnessed a revolution in terms of the overall design, from engine to control functions. Even though the vehicle power distribution module hasn’t experienced a radical change in terms of design and function, it is expected to experience a radical change in the coming years.
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Europe is one of the leading producers of automobiles and automotive parts, accounting for almost 1/4th of the global production, and is expected to hold a major share of the global vehicle power distribution module market. In terms of the market share of the vehicle power distribution module market, North America is expected to follow Europe due to its vast presence in the automobile industry. Countries such as India and China are expected to hold a large share in the vehicle power distribution module market in terms of value due to rapid growth in urban population and growing automotive industry in these regions. Both the countries are also expected register a robust CAGR in the vehicle power distribution module market. India is expected to be one of the main drivers of the vehicle power distribution module market due to high year-on-year growth in the sales of automobile vehicles in the country. Hence, the Asia-pacific region is expected to register the highest growth in terms of volume in the global vehicle power distribution module market.
However, the Middle East and Africa region is expected to hold a relatively small market share in the vehicle power distribution module market, but is expected to witness a healthy growth rate during the forecast period. Overall, the vehicle power distribution module market is expected to experience robust growth opportunities over the projected period.
Global Vehicle Power Distribution Module Market: Key Players
Examples of some of the participants in the global vehicle power distribution module market identified across the value chain include:
- Sumitomo Electric
- Curtiss-Wright Corporation
- DRÄXLMAIER Group
- FURUKAWA ELECTRIC CO., LTD
- SCHURTER Holding AG
- KISSLING Elektrotechnik GmbH
- Hale Products Inc.
- Littelfuse, Inc.
The research report presents a comprehensive assessment of the vehicle power distribution module market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to vehicle power distribution module market segments such as geographies, application and industry.
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