Press Release: December 04, 2018
Motor vehicle electrical & electronic equipment, steering, suspension, & interiors manufacturing companies are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance. IoT helps manufacturers to increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by manufacturers to obtain wear and tear data that can prevent equipment failures.
Motor vehicle electrical & electronic equipment, steering, suspension, & interiors manufacturing companies manufacture and rebuild electrical and electronic equipment used for motor vehicles and internal combustion engines. Motor vehicle steering and suspension components (except spring) manufacturing companies mainly manufacture motor vehicle steering mechanisms and suspension components, except springs. It also includes the rebuilding of rack and pinion steering assemblies, on a factory basis.
THE BUSINESS RESEARCH COMPANY VALUED THE MOTOR VEHICLE ELECTRICAL & ELECTRONIC EQUIPMENT, STEERING SUSPENSION, & INTERIORS GLOBAL MARKET AT $817 BIILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than two-fifth of the global market.
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According to The Business Research Company’s Consultant, Oliver Guirdham, manufacturers of motor vehicle parts are considering light weight components such as advanced composites to produce motor vehicle parts that can improve the fuel efficiency and safety of automobiles. Light weight vehicle components enable motor vehicle manufacturers to reduce the overall weight of the vehicle, thus, lowering the fuel consumption. This improves the fuel efficiency of the vehicle while ensuring safety norms are complied. In this regard, automotive parts manufacturers are using advanced composites and high strength metals for producing motor vehicle parts.
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The top companies in the market are Bosch, Hyundai, Tennaco, DENSO, and Hella. Bosch was the biggest player in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market, with revenues of $97 billion in 2017. Bosch’s growth strategy is to increase investment in the automotive parts manufacturing business. In April 2017, Bosch established an automotive electronics plant in Changzhou, China. This plant manufactures electronic components for automated driving and connected products such as cameras and radar sensors for driver assistance systems, and Electronic Control Units (ECU) for automotive steering systems. Bosch plans to invest over EUR 100 million ($110.7 million) and employ 1,300 new associates at this plant, by 2019.
Motor Vehicle Electrical And Electronic Equipment, Steering Suspension, And Interiors Market Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.
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