Automobile Electrical and Electronic Equipment, Steering Suspension, and Interior Equipment Market Trends and Opportunities 2021-2030

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Global Automotive Parts Market Report 2021 – COVID-19 Impact and Recovery

Business Research Company Global Automotive Parts Market Report 2021 – COVID-19 Impact and Recovery

LONDON, GREATER LONDON, UK, Nov 23, 2021 /EINPresswire.com/ – Technological Advances – Technological advances are expected to be another driver of market growth for automotive electrical and electronic equipment, steering suspensions and interiors during the forecast period. The global transportation industry has seen many technological advances over the past decade, and this trend is expected to intensify. According to Forbes, the ten new features expected in vehicles by 2020 are autonomous driving, driver bridging systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, intelligent and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the automotive parts manufacturing market over the forecast period.

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The global automotive electrical and electronic equipment, steering suspension, and interiors market is forecast to grow from $ 2.65 trillion in 2020 to $ 2.78 trillion in 2021, with a compound annual growth rate (CAGR) of 5% . The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which previously resulted in restrictive containment measures involving social distancing, remote working and the closure of commercial activities that created operational challenges. The market is expected to hit $ 3.81 trillion in 2025 at a CAGR of 8%.

The Asia-Pacific region was the largest region in the global automotive, steering and interior electrical and electronic equipment market with a market share of 45% in 2020. Western Europe was the second largest region with a 22% share of the world market. Africa was the smallest region in the market for automotive electrical and electronic equipment, steering suspensions and interior fittings.

Read more about the global Automotive Electrical & Electronic Equipment Market Report:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-parts-global-market-report-2020-30-covid-19-impact-and-recovery

Key players in the global automotive parts industry include Robert Bosch, Denso Corporation, Magna International Inc., Aisin Group, and Continental Automotive Systems Corporation.

TBRC Global Automotive Electrical & Electronic Equipment, Steering Suspension & Interior Equipment Market report is segmented by Type into Automotive Body, Stamping & Other Parts, Automotive Engine, Powertrain & Parts, Automotive Electrical & Electronic Equipment, Steering Suspension, & Interior, by Application in Passenger Cars , Commercial vehicle, after end use in OEM, aftermarket.

Global Automotive Parts Market Report 2021 – By Type (Body, Stamped Metal & Other Parts, Automotive Engine, Powertrain & Parts, Automotive Electrical & Electronic Equipment, Steering Suspension & Interior), By Application (Passenger Cars, Commercial Vehicle), By End Use (OEM, Aftermarket ), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides a forecast of the Automotive Electrical & Electronic Equipment, Steering Suspension, and Interior Equipment market and forecast the Electrical & Electronic Equipment market size and growth for Automobile Steering Suspension and Interior Equipment for Whole Market, Automotive Electrical & Electronic Equipment, Steering Suspension & Interior Equipment Market Segments, and Regions, Automobile Electrical & Electronic Equipment, Steering Suspension and Interior Equipment, Electrical Market Trends and automotive electronic equipment, steering suspension and interior equipment market drivers, restraint systems, leading co sales, profiles and market shares of competitors.

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