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 soared to $ in 2019, growing 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). Over the period under review, the total consumption indicated a strong increase from 2013 to 2019: its value increased at an average annual rate of +% over the last six years. 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 reached the peak level and is likely to continue growth in the immediate term.

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.

For the seventh year in a row, the U.S. recorded growth in consumption of motor vehicle electrical and electronic equipment, which increased by % to units in 2019. Over the period under review, consumption showed a strong increase. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

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.

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 years (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.