Market Size of Automotive Terminal Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Terminal Market Analysis
The Automotive Terminal Market is anticipated to register a CAGR of about 10%, during the forecast period (2020 - 2025).
- The major factors that will drive the market growth during the forecast period are the increasing number of automobile production and sales along with an increased number of electrical systems in them and the government mandates for automotive safety systems.
- The automobiles sales are expected to come back to the growth track after a dip in the year 2019. The year 2020 is expected to be transitional for the automotive industry but the sales numbers are likely to go down further due to the COVID-19 outbreak. However, post-2020, it is expected that automobile sales will grow with a CAGR of around 8 % during the forecast period.
- The introduction of various electrical systems in various vehicle applications such as infotainment, lighting system, battery system, security system, etc., will drive the growth of the market.
