The industry's success is largely explained by the recovery of the motor vehicle manufacturing sector, the primary downstream market for industry products. As the economy has recovered over the past five years, employment rates and consumer confidence have grown as well. As new car sales have increased, so have automobile electronics sales, boosting industry revenue. Stable downstream demand from the automotive sector is expected to boost revenue in 2016. Over the next five years, IBISWorld expects revenue to grow, but new car sales are expected to slow down over the next five years
This industry manufactures motor vehicle parts that have or operate with the aid of small components that control and direct an electric current. Industry operators include manufacturers of lighting systems, electrical wiring, electrical control units, sensors, electronic ignition systems and driver displays. Manufacturers of electric motors are excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.