Hirschmann Automotive Market Research Report

Background

Overview

Hirschmann Automotive GmbH, established in 1959, is an international automotive supplier headquartered in Rankweil, Austria. The company specializes in the development and production of connectors, cable assemblies, sensor systems, and high-voltage applications for the automotive industry. With over 60 years of experience, Hirschmann Automotive has become a significant player in the automotive sector, providing innovative solutions that meet the evolving demands of the industry.

Mission and Vision

Hirschmann Automotive is committed to driving progress and innovation in the automotive industry. The company's mission is to develop products that enhance mobility, safety, and connectivity, contributing to the advancement of vehicle technology. Its vision focuses on delivering high-quality, reliable, and sustainable solutions that address the challenges of modern transportation.

Primary Area of Focus

The company's primary focus is on providing electrical and electronic components and assemblies for the automotive industry. This includes connectors, cable assemblies, sensor systems, and high-voltage applications, catering to both combustion engine vehicles and electrified vehicles.

Industry Significance

Hirschmann Automotive plays a crucial role in the automotive supply chain by offering components that are essential for vehicle performance, safety, and connectivity. Its products are integral to the functionality of modern vehicles, supporting advancements in areas such as e-mobility, autonomous driving, and vehicle electrification.

Key Strategic Focus

Core Objectives

• Innovation: Continuously developing state-of-the-art technologies to meet the evolving needs of the automotive industry.

• Quality: Ensuring high standards in product design, manufacturing, and testing to deliver reliable and durable components.

• Sustainability: Implementing eco-friendly practices and products to contribute to a sustainable future.

Specific Areas of Specialization

• Connectors: Designing and producing connectors suitable for various applications, including high-voltage systems and specialized customer solutions.

• Cable Assemblies: Developing robust and innovative cable assemblies for all vehicle types, including oil-proof wiring harnesses and tight wiring harnesses for wet areas.

• Sensor Systems: Providing intelligent and reliable sensor systems for all drive technologies, including eThrottle, Hall linear position sensors, and Hall speed sensors.

• High-Voltage Applications: Offering high-voltage connectors and systems for electrified vehicles, such as the HPS40 series.

Key Technologies Utilized

• High-Voltage Technology: Specializing in connectors and systems for high-voltage applications in electrified vehicles.

• Sensor Technology: Developing advanced sensor systems for various automotive applications.

• Cable Assembly Technology: Innovating in cable assembly designs to enhance performance and reliability.

Primary Markets Targeted

• Automotive Industry: Supplying components to vehicle manufacturers for both combustion engine and electrified vehicles.

• Micromobility Sector: Providing solutions for electrically powered vehicles such as e-bikes and e-scooters.

Financials and Funding

Funding History

Hirschmann Automotive has experienced significant growth and expansion over the years. In 2011, the company reported sales of approximately €143 million, marking a 16% increase over the previous year. In 2022, the company achieved a turnover of €530 million.

Recent Funding Rounds

In 2012, Hirschmann Car Communication GmbH, a subsidiary of Hirschmann Automotive, was acquired by VOXX International Corporation for approximately $112 million (€85 million).

Notable Investors

VOXX International Corporation, a global leader in automotive and consumer electronics, acquired Hirschmann Car Communication GmbH in 2012.

Intended Utilization of Capital

The capital from the acquisition was intended to strengthen Hirschmann's global footprint, enhance its product offerings, and expand its OEM automotive business.

Pipeline Development

Key Pipeline Candidates

Hirschmann Automotive is actively developing products in the following areas:

• High-Voltage Connectors: Expanding the HPS40 series to meet the growing demand for electrified vehicle components.

• Sensor Systems: Innovating in sensor technologies for applications in autonomous driving and vehicle electrification.

• Cable Assemblies: Developing advanced cable assemblies for emerging automotive applications.

Stages of Development

The company is in various stages of development for these products, from conceptualization to prototype testing and production.

Target Conditions

The products aim to address the needs of the automotive industry, focusing on performance, safety, and sustainability.

Anticipated Milestones

Hirschmann Automotive plans to achieve key milestones in product development, including:

• Prototype Testing: Conducting rigorous testing to ensure product reliability and performance.

• Production Launch: Initiating mass production to meet market demand.

• Market Introduction: Introducing products to the market and establishing customer partnerships.

Technological Platform and Innovation

Proprietary Technologies

• HPS Connectors: High-voltage connectors designed for electrified vehicles, ensuring safety and performance.

• eThrottle Sensors: Sensor systems for electronic throttle control, enhancing vehicle responsiveness.

Significant Scientific Methods

• Advanced Simulation Techniques: Utilizing simulation methods for prototype development and testing.

• Environmental Testing: Conducting rigorous environmental and functional tests to validate product durability.

Leadership Team

Executive Profiles

• Angelo Holzknecht (CEO): With a background in business administration, Angelo joined Hirschmann Automotive in 2011. He has held various positions, including Cost Engineering and Managing Director of the San Miguel, Mexico plant. As CEO since March 2023, he drives the company's transformation towards e-mobility.

• Stefan Tschol (CFO): Stefan holds a degree in business administration with a focus on corporate accounting. He has experience in auditing and tax consulting and has held management positions in financial departments of industrial companies. Since 2020, he has been promoting the sustainable progress of Hirschmann Automotive as CFO.

Competitor Profile

Market Insights and Dynamics

The automotive components industry is experiencing significant growth, driven by advancements in vehicle electrification, autonomous driving, and connectivity. Companies like Hirschmann Automotive are well-positioned to capitalize on these trends by offering innovative solutions that meet the evolving needs of the automotive sector.

Competitor Analysis

Hirschmann Automotive faces competition from various global and regional suppliers of automotive components. Key competitors include:

• TE Connectivity: A global leader in connectivity and sensor solutions for automotive applications.

• Molex: Provides electronic solutions, including connectors and cable assemblies for the automotive industry.

• Amphenol: Offers a wide range of interconnect products for automotive applications.

Strategic Collaborations and Partnerships

Hirschmann Automotive has established partnerships with various automotive OEMs and suppliers to enhance its product offerings and expand its market reach. Notably, the acquisition of Hirschmann Car Communication GmbH by VOXX International Corporation in 2012 expanded the company's capabilities in antenna and infotainment systems.

Operational Insights

Hirschmann Automotive's global presence, with production sites in Austria, Germany, Morocco, Mexico, Romania, the Czech Republic, and China, enables it to serve a diverse customer base effectively. The company's focus on innovation, quality, and sustainability differentiates it in the competitive landscape.

Strategic Opportunities and Future Directions

Strategic Roadmap

Hirschmann Automotive aims to:

• Expand Product Portfolio: Develop new products to meet the demands of electrified and autonomous vehicles.

• Enhance Global Presence: Strengthen operations in key markets to better serve customers worldwide.

• Invest in R&D: Allocate resources to research and development to drive innovation and maintain a competitive edge.

Future Business Directions

The company plans to focus on:

• E-Mobility Solutions: Develop components for electric vehicles to support the transition to sustainable transportation.

• Autonomous Driving Technologies: Provide sensor systems and connectivity solutions for autonomous vehicles.