Overview of the Market for Motor Vehicle Electrical And Electronic Equipment in the USA
In value terms, production of motor vehicle electrical and electronic equipment stood at $ in 2019. The total output value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of % year-to-year. Over the period under review, production reached the maximum level in 2019 and is likely to continue growth in the near future.
The revenue of the market for motor vehicle electrical and electronic equipment in the U.S. soared to $ in 2019, surging 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). Overall, the total consumption indicated buoyant growth from 2013 to 2019: its value increased at an average annual rate of +% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2013 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.