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The automotive junction box market size is estimated to grow at a CAGR of 8.3% between 2022 and 2027. The market size is forecast to increase by USD 3,182.81 million. The growth of the market depends on several factors such as the penetration of hybrid and electric powertrains, the increasing electronic applications in vehicles, and the resettable poly switch devices driving the automotive junction box market.
This automotive junction box market report extensively covers market segmentation by vehicle type (passenger cars and commercial vehicles), technology (smart junction box and passive junction box), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive junction box market growth is the penetration of hybrid and electric powertrains. The automotive junction box is mainly used for joining automobile cables, wiring harnesses, connectors, and other electrical connections. This automotive junction box mainly houses many electrical connections and thereby protects the connections and offers safety. There is an increase in the number of electrical cables and connectors in vehicles fuelled by the high demand for hybrid and electric powertrains.
Moreover, this is significantly fuelling the demand for high-voltage wiring harnesses for electric and hybrid vehicles, such as weight-saving wiring harnesses, as they improve fuel efficiency. As a result, it fuels the need for high voltage ranges in junction boxes. Hence, such factors are positively impacting the automotive junction box market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the automotive junction box market growth is the functional integration of junction boxes. The main purpose of junction boxes is to enclose electrical connections in a vehicle. The integration of passive junction box features with electronic module functionality is a primary trend in the market as it offers numerous advantages in terms of weight and size reductions. For example, Lear manufactures Solid State Smart Junction Boxes (S3JB) that extensively use a microcontroller-based technology to switch power and control vehicular body functions.
Moreover, the main advantage of such integrations and advancements is that they reduce the number of components in a junction box to lower product costs. Lear S3JB enables relays and fuses to function through solid-state electronic drivers. Hence, these kings of integration protect the devices and eliminate the need for service fuses and relays. Hence, such factors are positively impacting the automotive junction box. Therefore, it is expected to drive the market growth during the forecast period.
Increasing the use of wireless technologies and reducing the need for junction boxes is one of the key challenges hindering the automotive junction box market growth. There is an increasing focus on implementing wireless technology in the automotive industry due to factors such as the rising need for reducing vehicle weight, simplifying wiring harness connections, and making manufacturing more flexible. It is expected that wireless applications in automobiles will evolve depending on the need for in-vehicle use, vehicle-to-vehicle infrastructure, and vehicle-to-vehicle communication.
Moreover, the increasing developments in wireless technology are expected to further simplify the electric architecture of a vehicle. However, there is a decline in the need for multiple small junction boxes or a single large junction box to enclose electrical connections. Hence, such factors are expected to negatively impact the market. Therefore, it is expected to hinder the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Junction Box Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amphenol Corp: The company offers automotive junction boxes such as Amphoton Junction Box.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger cars segment is estimated to witness significant growth during the forecast period. This segment mainly comprises conventional passenger cars and electric passenger cars. In electric passenger cars, high-voltage batteries are extensively used as all functionalities highly rely on them.
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The passenger cars segment was the largest segment and was valued at USD 3,731.47 million in 2017. Additionally, there are essentially three junction boxes and three different batteries in the electric passenger car segment where one of the boxes is connected to the onboard charger and high-voltage battery, and the second junction box whereas another junction box is connected to the drive unit, air conditioning compressor, electric coolant pump, and electric vacuum pump, among others. Hence, the integration of these junction boxes in the electric passenger car segment enables its smooth functioning. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries that are significantly contributing to the global automotive junction box market in APAC are China, India, and Brazil. The main reason for the significant growth in these countries is that China and India are the leading producers and consumers of automobiles as also home to many automotive component manufacturing units. Furthermore, factors stringent regulatory norms to lower emission levels are expected to fuel the growth of the electric vehicle sales in these countries which is expected to positively impact the market growth.
Moreover, some of the prominent manufacturers of automotive junction boxes are Japanese companies such as Fujikura, FURUKAWA Electric, and Sumitomo Wiring Systems. The prominent company Sumitomo Wiring Systems manufactures compact and lightweight junction boxes that control engine ignition, headlamp relay, and wiper relay. Such kind of technological advancements will help reduce costs. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global automotive junction box market witnessed a significant slowdown due to disruptions in the supply chain, a fall in output, and a decline in consumer demand in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in the automotive industry. Such factors are expected to drive the market during the forecast period.
The automotive junction box market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Automotive Junction Box Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.3% |
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Market growth 2023-2027 |
USD 3,182.81 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.81 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 54% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amphenol Corp., Apparatebau Kirchheim-Teck GmbH, Aptiv Plc, BorgWarner Inc., Continental AG, Dejini Systems, Eaton Corp. Plc, Fujikura Co. Ltd., Koch Industries Inc., Lear Corp., Leoni AG, M M Sankhla Electricals, ON Semiconductor Corp., Sumitomo Electric Industries Ltd., TE Connectivity Ltd., Valeo SA, Vitesco Technologies Group AG, Yazaki Corp., Jenkin Electric Co., and Samvardhana Motherson International Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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