Top 6 Companies in Global Automotive Electronics Market

According to the research report, “Global Automotive Electronics Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 450 Billion by 2029, increasing from USD 161.92 Billion in 2023. The market is expected to grow with 5.72% CAGR by 2024-29. The technologies that make use of information are playing a very important role in the future of the automotive industry. The automotive industry is continuously adopting advanced technologies and integrating these technologies with its operations at a greater scale. In order to enhance the performance of automotive vehicles electronic components like airbags or integrated in the vehicles for providing safety. As there's a growing demand for electric vehicles and hybrid cars or hybrid vehicles there's an increasing demand for automotive electronics..

Largest Automotive Electronics Companies in the World.

1. Hella GmbH & Co. KGaA

Sally Windmüller founded the company in 1899 under the name Westfälische Metall-Industrie Aktien-Gesellschaft (WMI) to produce ball horns, candles, and kerosene lamps for carriages. Hella has around 37,000 employees at more than 125 locations worldwide and generated consolidated sales of €8 billion in the fiscal year 2023.  In 2023, the company merged with French global automotive supplier Faurecia, the merged business being named Forvia, and the two divisions being formally called Forvia Hella and Forvia Faurecia. The company operates in Europe, the Americas, and Asia-Pacific. HELLA is headquartered in Lippstadt, Germany.

2. Denso Corporation 

The company was founded on December 16, 1949 and is headquartered in Tokyo, Japan. DENSO Corp. engages in the manufacture and sale of automotive component and systems, industrial products and home appliances. Its operations are carried out through the following business divisions: Automotive, Consumer Products, Industrial Products and New Business Fields. DENSO is a $47.9 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its around 200 facilities to produce electrification, powertrain, thermal, mobility electronics, advanced devices to create jobs that directly change how the world moves. Company operates its manufacturing facilities in Asia-Pacific, the Americas and Europe. Denso is headquartered in Kariya, Aichi, Japan.

3. ZF Friedrichshafen AG

Founded in 1915, ZF has evolved from a supplier specializing in aviation technology to a global mobility technology company. The company’s product offerings include steering and braking systems, occupant safety systems, front and rear axles, transmissions and powertrain modules, and drive components among others. ZF also provides integrated solutions across the vehicle life cycle, including spare parts, preventive overhaul, conversion and retrofitting repair, technical information and advice, training and expert marketing support and remanufacturing of used units. The ZF Group operates 162 production locations in 31 countries. With some 168,700 employees worldwide, ZF reported sales of €46.6 billion in fiscal year 2023. Group shareholders include the Zeppelin Foundation, administered by the City of Friedrichshafen, holding 93.8 percent of shares, and the Dr. Jürgen and Irmgard Ulderup Foundation, Lemförde, with 6.2 percent.

4. Magna International Inc

The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada. Magna International, Inc. is a mobility technology company, which supplies to the automotive industry. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The company is a global automotive supplier with 343 manufacturing facilities and 105 product development, engineering, and sales centres in 28 countries. The company has over 179,000 employees focused on delivering superior value to customers through innovative processes and world-class manufacturing.  The company operates through its manufacturing operations, product development, engineering and sales centers across Asia, Europe, and North, and South American regions. Magna is headquartered in Aurora, Ontario, Canada..

5. Autoliv, Inc

The company was founded by Lennart Lindblad in 1953 and is headquartered in Stockholm, Sweden. Company financial year net sales are USD 10.5 Billion. Autoliv, Inc. engages in the development, manufacture, and supply of automotive safety systems. It operates through the Passive Safety and Electronics segment. Autoliv has over 70,000 employees in 25 countries, of whom 5000 are involved in research, development and engineering. In addition, the company has 14 technical centers around the world, including 20 test tracks, more than any other automotive safety supplies.

6. HL Mando Corporation

HL Mando Corporation, South Korea was established in the year 1962 with an annual sales figure of 8,393 billion Korean won as of 2023. The company is supplying those products to major car makers in Korea such as Hyundai Motor, Kia Motors as well as overseas customers including General Motors, Ford Motors, DaimlerChrysler and BMW. Mando also succeeded in developing and producing the most advanced safety devices such as ABS (Anti-lock Brake System), ESC (Electronic Stability Control System), ECS (Electronic Controlled Suspension System), EPS (Electric Power Steering). Mando, headquartered in Seoul, Korea, has 3 plants at different location in Korea.