Vehicle power distribution system is used to distribute electricity among various electronic systems in the vehicle.
Expansion of the Vehicle Power Distribution System Market is driven due to rising acceptance of electronic features in a vehicle. Regulations on passenger safety are likely to propel the market. Safety is an important factor while driving a vehicle. Safety systems need proper power distribution to function properly. A major restraint of the market is a lack of technological innovation in vehicle power distribution.
The global Vehicle Power Distribution System Market can be segmented based on type, technology, component, electric vehicle type, vehicle type, sales channel, and region.
Based on type, the Vehicle Power Distribution System Market can be segregated into hardwired and configurable. Hardwired power distribution system is an important technology that is integrated on an automobile wiring harness assembly, which distributes and controls the power flow within the electric power set. The configurable type segment is projected to hold a significant share of the Vehicle Power Distribution System Market during the forecast period. Increasing demand for innovative electronics such as infotainment & navigation units, windshield HUDs, electric powertrain, drive mode selector, rear seat entertainment, and advanced telematics is likely to boost the configurable segment.
Based on technology, the vehicle power distribution market can be classified into level I, level II, and level III. Level I is primarily used in the conventional internal combustion (IC) engines. Electric vehicles have more electronic components and hence, need an advanced system for power distribution. Therefore, level III technology power distribution system is commonly utilized in the electric vehicles.
Based on component, the Vehicle Power Distribution System Market can be divided into fuse, CAN, relays, and others.
In terms of electric vehicle type, the Vehicle Power Distribution System Market can be bifurcated into battery electric vehicle, plug-in hybrid vehicle, and hybrid electric vehicle. Adoption of zero-emission vehicles is increasing in order to achieve a pure environment.
Based on vehicle type, the Vehicle Power Distribution System Market can be segregated into passenger vehicles (PVs) and commercial vehicles (CVs).
In terms of sales channel, the Vehicle Power Distribution System Market can be classified into original equipment manufacturer (OEM) and one more segment.
Based on region, the market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific accounted for 50% of the global market due to higher vehicle production in the region. The market in Europe is likely to expand at a significant growth rate owing to the rise in penetration of electric vehicles in the region. Economies of countries in Middle East are primarily dependent on the oil and gas industry. Therefore, the Middle East is least affected by the introduction of electric vehicles. Conventional systems used in power distribution are likely to expand at a moderate growth rate in the Middle East. Countries in Africa are developing at a rapid pace, which is likely to boost the vehicle industry in these countries.
Market players operating in the Vehicle Power Distribution System Market include TE Connectivity, Horiba, Sumitomo Electric, Furukawa, Eaton, Draxlmaier, MTA, Littelfuse Lear, Leoni, Mersen, Minda, Schurter, and Yazaki.