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Allied Market Research

Automotive Junction Box Market by Product (Common Junction Box and Connect Plug-In Junction Box) and Vehicle Type (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12280
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Sep 2021 | 39 Views
   
Author(s) : Sonia Mutreja
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COVID-19

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Automotive Junction Box Market Outlook 2030 -

Automotive junction box protects a connection of two or more wires carrying electrical current. Junction box consist of vehicle’s fuse, circuit breaker, relay, and others. Junction box protects the vehicle from fires and forms a reliable electrical connection that lasts long. Moreover, the use of junction box reduces the need to run wire from every outlet or switch back to main service panel every time. When the junction box is used for electrical connection, it becomes easier to locate and repair any electrical problems in the system. Furthermore, the electrical system for which power distribution is done by the junction box are required to install advance feature in vehicle. Solid state smart junction box allows relays and fuses to work through electronic devices. These self-protecting devices improve the quality and eliminates the chances of fuse and relays. In addition, the safety and security are also controlled by various system such as anti-braking system (ABS), central locking system and others thus, it increases the demand for junction box. Since, most of the component in the vehicle are electronic thus failure in junction box is likely to damage the entire vehicle.

Market Scope and Structure Analysis:

Report Metric

Details

 Market size available for years

 2020–2030

 Base year considered

 2020

 Forecast period

 2021–2030

 Forecast units

 Value (USD)

 Segments covered

 Product, Vehicle Type, and Region

 Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

 Companies covered

Aisin Seiki Co Ltd, BorgWarner, Continental Corporation, Delphi Automotive PLC, DENSO Corporation, Eaton Corporation Plc, Hitachi, Maxwell Technologies Inc., Robert Bosch GmbH, and Johnson Controls Inc.


COVID-19 Impact Analysis:

COVID-19 pandemic has affected the global economy in various countries since lockdown caused travel bans and business shutdown, affecting global supply chain of automotive junction box. Due to the pandemic all manufacturing of automobile was halted thus, disrupting the demand for   automotive junction box. Since, a lot of electrical components are required in the junction box but due to government restrictions and lockdown the supply of the components was also halted. COVID-19 had a positive impact on the electric vehicles market as sales of electric vehicles has increased. Thus, automotive junction box is an evolving sector, and it is expected that post the pandemic the demand for automotive junction box will increase.

Top Impacting Factors

  • Rise in electrical & hybrid vehicles, rise in demand for safety features in vehicles, and increasing demand for autonomous vehicles is expected to drive growth of the market.
  • However, rise in usage of wireless technologies and shorter product life cycle of electrical systems can hamper growth of the market.
  • Moreover, rise in usage of electronic components in vehicles, reduces the vehicle weight reducing the usage of long cable wires, and makes it easier to fix electrical problems in vehicles act as an opportunity for growth of the market.  

Market Trends

Rise in demand for safety features in vehicles

The rise in advanced features in vehicle is simultaneously increasing the demand for safety features. In addition, the increasing demand for alternative fuel vehicles has fuelled the demand for electrical and hybrid vehicles. Electrical vehicle requires high voltage battery power to operate thus, increasing the need for safety. Thus, the importance of junction box in electrical vehicle is very high since a lot of electrical components are involved in the vehicle. For instance, battery junction box (BJB/S-Box) is used in electric vehicle which connects and disconnects the electrical components in the vehicle, which needs energy from the battery. BJB is connected to the entire vehicle with the help of bus interface, and it is the switching box for high-voltage connection. Furthermore, BJB has a safety function in case of danger it disconnects the high-voltage battery from the electrical system including all the electrical components. The increasing need of safety in vehicles is expected to drive growth of automotive junction box market.

Key Segments Covered:

Segments

Subsegments

 Product

  • Common Junction Box
  • Connect Plug-In Junction Box

 Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

 Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key Benefits of the Report:

  • This study presents the analytical depiction of the automotive junction box market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive junction box market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the automotive junction box market growth scenario.
  • The report provides detailed automotive junction box market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the automotive junction box market research report:

  • Which are the leading market players active in the automotive junction box market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the automotive junction box market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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