According to the report, the global automotive antenna market is projected to reach ~US$ 11 Bn by 2027, expanding at a CAGR of ~4% during the forecast period. Increasing per capita income, rising spending power of consumers leading to preference toward premium vehicles, and significant technological advancements in vehicles are key factors fueling the automotive antenna market globally. The adoption of vehicle-to-vehicle communications and vehicle-to-infrastructure communications is anticipated to propel the automotive antenna market during the forecast period. The demand for higher voltage wires is anticipated to increase, owing to a rise in the demand for electric vehicles, which increases number of features in vehicles that require antennas to carry out the function including TPMS, ADAS system, and several others. Mild hybrid and 48V vehicles are expected to gain popularity, which creates an opportunity for the automotive antenna market.
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Expansion of Automotive Antenna Market
Center stack displays and integrated clusters are emerging as the newest trend in the automotive industry, which display a large amount of information ranging from navigation and vehicle health to e-call. Rise in demand for such integrated clusters/center information displays is anticipated to further boost the demand for automotive antenna. The electronic toll collection is being readily adopted worldwide to improve the infrastructure and facilitate speedy movement of vehicles. RFID tag antennas are expected to record significant high demand during the forecast period, owing to significant adoption of electronic toll collection. The Tire Pressure Monitoring System (TPMS) works with the support of antenna, sensors, and control units. TPMS is mandatory in North America and Europe, while Asia Pacific is expected to follow. The adoption of TPMS in Asia Pacific is projected to boost the demand for TPMS antenna during the forecast period. The passenger vehicle segment held a key share of the global automotive antenna market in 2018. It is anticipated to remain the leading segment during the forecast period, owing to high production of passenger vehicles coupled with higher penetration of antennas in these vehicles. The commercial vehicle segment is anticipated to expand at a high growth rate during the forecast period primarily due to expansion of industries, manufacturing, and logistics sectors in developing nations.
The OEM segment accounted for a notable share of the global automotive antenna market in 2018. Expansion of the automotive antenna market is boosting the integration of this technology by OEMs in their vehicles, which contributes to the high market share held by the OEM segment.
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Regional Analysis of Automotive Antenna Market
In terms of region, the global automotive antenna market has been segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific held a major share of the global automotive antenna market owing to higher production volume of vehicles in China, Japan, and India. Consistent rise in penetration of the automotive antenna across different countries, including China, India, Mexico, the U.S., Germany, and Japan, is a prominent factor driving the global automotive antenna market. Several decisions by governments of countries in Europe have hampered businesses in the region. Rise in revised taxes due to Brexit is likely to hamper production and sales of automobiles in Europe, which in turn is estimated to restrain the overall automotive industry in the region.
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Prominent players operating in the global automotive antenna market include Ace Technologies Corp., AGC Inc., Aptiv, Continental AG, Denso Corporation, Fiamm Componenti Accessori F.C.A.-S.p.A., Ficosa International SA, Harada Industry Co., Ltd., HARMAN International, Hella GmbH, Laird Connectivity, Panasonic Corporation, TE Connectivity, Telefonaktiebolaget LM, Ericsson, Molex, Amphenol Corporation, and Mobile Mark, Inc.
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