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Automation components refer to a wide range of mechanical and electromechanical parts that are integral to automating industrial processes, machinery and systems. These components are essential in industries that seek to improve operational efficiency, productivity and precision by reducing the reliance on manual intervention.

Automotive performance parts are components designed to enhance a vehicle's power, handling and overall driving experience. These parts can range from engine upgrades to suspension modifications, each contributing to improved performance metrics such as acceleration, braking and cornering.

Chip resistors are essential components in electronic circuits, providing resistance to the flow of electrical current. They play a fundamental role in controlling, stabilizing and limiting electrical currents in a wide range of electronic devices and systems. These compact and durable components are primarily used in modern electronic applications due to their ability to operate efficiently in high-density circuit designs.

Global Electric Commercial Vehicle and Off-Road Vehicle DC-DC Converter Market - Growth Trends

The global electric commercial vehicle (ECV) market is a part of the global automotive parts and equipment market. The global automotive parts and equipment market was valued at $3,246.34 billion in 2021 and reached $3,407.01 billion in 2023. The global automotive parts and equipment market witnessed an incremental growth of $160.7 billion and registered a CAGR of 2.4% from 2021 to 2023.