Global Market Study on Automotive Electrical Products: Extensive Application in EVs to Heighten Dema

Krazymedia30 Nov, 2022Business

As COVID-19 enters its second stage, the global automotive electrical products market is likely to experience a slowdown, with growth being pegged at a modest albeit steady rate until the latter half of?2021. On the other hand, burgeoning regulations on emission safety standards combined with technological disruptions such as e-mobility are driving expansion of the automotive electrical products market size. In addition, enhanced vehicular safety is augmenting the usage of automotive electrical products. Lane assist systems and adaptive cruise control are becoming highly prevalent to avoid accidents and comprise nearly three-tenth of overall vehicular costs. Furthermore, adoption of infotainment systems for recreational purposes is also enhancing the growth prospects of the global automotive electrical products market.