Commercial Vehicle Electric Power Distribution Box Market (Type Form - Hardwired, and Configurable; Component - Fuses, Relays, Connectors, Wires, Circuit Breakers, Electronic Control Units (ECU), and Others; Box Material Type - Plastic, Metal, and Composite; Vehicle Type - Light Commercial Vehicle, Heavy Duty Trucks, Buses and Coaches, and Off-road Vehicle): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Commercial Vehicle Electric Power Distribution Box Market (Type Form - Hardwired, and Configurable; Component - Fuses, Relays, Connectors, Wires, Circuit Breakers, Electronic Control Units (ECU), and Others; Box Material Type - Plastic, Metal, and Composite; Vehicle Type - Light Commercial Vehicle, Heavy Duty Trucks, Buses and Coaches, and Off-road Vehicle): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Report Code: IGR01463 Category: Automotive, Aerospace & Defence Published: January, 2024

A recent report published by Infinium Global Research on commercial vehicle electric power distribution box market provides in-depth analysis of segments and sub-segments in the global as well as regional commercial vehicle electric power distribution box market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional commercial vehicle electric power distribution box market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global commercial vehicle electric power distribution box market.

Market Insight:

The commercial vehicle electric power distribution box market was valued at USD 4.13 billion in 2022 and is expected to reach USD 6.07 billion in 2030, with a CAGR of 4.34% during the forecast period 2023-2030.

A commercial Electric Vehicle (EV) refers to an electrically powered vehicle designed and used for commercial purposes. Commercial electric primarily intended for business or commercial purposes sets them apart from automobiles utilized for private or personal usage. Commercial vehicles are essential to the movement of both individuals and goods for financial gain in the transportation and logistics sectors. Commercial vehicles include vehicles such as Delivery Trucks, Cargo Vans, Buses, Taxis and Ride-Sharing Vehicles, Construction Vehicles, and Recreational Vehicles (RVs) for Commercial Use, which require electric power distribution boxes for the efficient distribution and management of electrical power. In addition to providing effective power distribution, the power distribution box enclosures safeguard important parts including fuses, relays, and connections. Engine power distribution and protection of the main circuits (electric steering, body computer, pre-heating, etc.) are made possible by power distribution boxes. To maximize space, everything is integrated into a single unit. The power distribution box is adaptable to many chassis and engine configurations. Not just for passenger automobiles but also for commercial vehicles, electrification is becoming popular. The manufacturers in the market for power distribution boxes for commercial electric vehicles are producing modular power distribution systems for high-tech and feature-laden commercial vehicles. The power distribution box of a commercial electric vehicle is essential to the control and distribution of power inside the vehicle. This box, which serves as the electrical system's central hub, makes sure that power is effectively channeled to numerous parts, including lights, sensors, and other electrical devices, allowing the car to run smoothly.

The increasing usage of electronics in vehicles is one of the main drivers driving the growth of the commercial electric vehicle power distribution box market, and as a result, the market for these boxes is growing. The urge to use electronics in cars is a big reason why the commercial electric vehicle power distribution box market is growing; In recent periods number of vehicles have become electronic switches, and to make all the elegant electronic stuff work, it requires special power boxes. As vehicles are getting equipped with high-tech devices there's a higher demand for these power distribution boxes. In 2022, electric car sales increased by nearly 70%, and in 2021 to 2.3 million, about half of which were plug-in hybrids. The market for these distribution devices grew significantly due to the increasing demand for commercial vehicles and the complexity of their electronic systems. Additionally, the market for commercial electric vehicle power distribution boxes is growing as a result of government incentives for using electric vehicles instead of conventional ones. The adoption of electric vehicles is encouraged by the governments of several nations, including the US, China, and India, for economic and environmental reasons. Advances in battery technology and infrastructure for charging them are making electric vehicles increasingly practical for usage in business settings. Controlling the flow of electricity from the battery to the car's different systems, including auxiliary power, HVAC, and propulsion, requires power distribution boxes. Moreover, the High Initial Costs and Complexity of Integration are acting as restraints for the market growth of the commercial electric vehicle power distribution box market. Additionally, Yamato Transport plans to introduce 500 electric trucks in 2019 and start using them from autumn successively in Tokyo, Saitama, Chiba, and Kanagawa. Therefore, rising the demand for electric trucks from the logistics sector offers lucrative opportunities for market growth.

In North America, the commercial vehicle electric power distribution box market is the largest segment, primarily due to stringent government regulations promoting cleaner and more energy-efficient transportation. The region has implemented strict emission standards, encouraging the adoption of electric and hybrid vehicles. Commercial vehicle manufacturers in North America are thus prioritizing electric power distribution systems to comply with these regulations, driving the market's growth. As a result, the demand for efficient and compliant power distribution solutions, such as distribution boxes, has surged, making it a significant and expanding segment in the commercial electric vehicle market in North America. Additionally, technological advancements in power electronics and design are driving the development of more efficient and compact distribution box solutions. The commercial electric vehicle power distribution box market is experiencing significant growth in Asia Pacific, with a particular focus on countries like China, India, and Southeast Asia. This surge is attributed to the robust production of electric and hybrid trucks and vans in these regions, creating a heightened demand for power distribution boxes. The technological advancement in the trucking industry is particularly pronounced in Asia, positioning the region as a central hub for these developments. Companies are keenly observing this trend and actively positioning themselves to participate in the burgeoning markets of Asia. Recognizing the increasing importance of power distribution boxes in the evolving landscape of electric commercial vehicles, businesses are strategically aligning themselves to be key players in this dynamic and growing sector.

Report Scope of the Commercial Vehicle Electric Power Distribution Box Market:

Report Coverage Details
Market Size in 2022 USD 4.13 Billion
Market Size by 2030 USD 6.07 Billion
Growth Rate from 2023 to 2030 CAGR of 4.34%
Largest Market North America
No. of Pages 300
Market Drivers
  • The market for power distribution boxes for commercial electric vehicles is expanding due in large part to the growing use of electronics within automobiles.

  • The government support for Electric vehicle usage plays an important role in the commercial electric vehicle power distribution box market.

Market Segmentation By Type Form, By Component, By Box Material Type, and By Vehicle Type
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global commercial vehicle electric power distribution box market covers segments such as type form, component, box material type, and vehicle type. On the basis of type form, the sub-markets include hardwired, and configurable. On the basis of component, the sub-markets include fuses, relays, connectors, wires, circuit breakers, electronic control units (ecu), and others. On the basis of box material type, the sub-markets include plastic, metal, and composite. On the basis of vehicle type, the sub-markets include light commercial vehicle, heavy duty trucks, buses and coaches, and off-road vehicle.

Companies Profiled:

The report provides profiles of the companies in the market such as Eaton, YAZAKI Corporation, Littelfuse, Inc., LEONI, Delphi, Continental AG, DENSO, TE Connectivity , Molex, and PKC Group.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the commercial vehicle electric power distribution box market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Frequently Asked Questions (FAQ's)

The global commercial vehicle electric power distribution box market was valued at USD 4.13 Billion in 2022.
It is likely to grow at a CAGR of 4.34% during the forecast period 2023-2030.
The global commercial vehicle electric power distribution box market is estimated to reach USD 6.07 Billion by the end of 2030.
North America is anticipated to exhibit high demand for commercial vehicle electric power distribution box market during the forecast period.
Eaton, YAZAKI Corporation, Littelfuse, Inc., LEONI, Delphi, Continental AG, DENSO, TE Connectivity , Molex, and PKC Group.
CHOOSE LICENCE TYPE

Please Choose One of them.

Google translate
© 2024. Infinium Global Research LLP. All Rights Reserved.