Overview of the Market for Motor Vehicle Electrical And Electronic Equipment in the USA

The U.S. market for motor vehicle electrical and electronic equipment reduced to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the market value increased by % year-to-year. Consumption peaked at $ in 2018, and then contracted in the following year.

In value terms, production of motor vehicle electrical and electronic equipment reached $ in 2019. The total output value increased at an average annual rate of +% over the period from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of % y-o-y. Production peaked at $ in 2017; afterwards, it flattened through to 2019.

In 2019, consumption of motor vehicle electrical and electronic equipment increased by % to units, rising for the second consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The size of the market for motor vehicle electrical and electronic equipment in the U.S. declined to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of % year-to-year. Consumption peaked at $ in 2018, and then shrank in the following year.

Driven by increasing demand for motor vehicle electrical and electronic equipment in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .

Driven by a growing demand, the share of imports in total supply in the U.S. increased significantly over the last six-year period (from % to %).

The U.S. remains a net importer of motor vehicle electrical and electronic equipment; in physical and value terms, imports consistently exceeded exports from 2013 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.