UK: OEM Automotive Electronics in North America
The original equipment (OEM) market for automotive electronic products in North America is projected to advance 6.2 percent per annum through 2004 to $28 billion (including price increases), an acceleration from recent historical trends. Growth will be fueled by vehicle manufacturers' increasing attempts to differentiate their products with these new features, which also provide an opportunity for price markup. Consumer demand for safer vehicles will provide opportunities, since safety features utilize significant levels of electronics. These factors will be offset by the same conditions that have limited growth since 1994. For example, many key electronics applications (such as engine electronics) have achieved relative maturity, and the intense level of competition among automotive suppliers will continue to limit pricing gains. The development of Internet-based auction purchasing by light vehicle OEMs will also increase pricing pressure. Light vehicle production will remain flat in Canada and experience deceleration in the US and Mexico. These and other trends are presented in OEM Automotive Electronics in North America, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
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