According to Stratistics MRC, the Global Automotive Switch market accounted for $572.56 million in 2017 and is expected to reach $1135.05 million by 2026 growing at a CAGR of 7.9% during the forecast period.
— Some of the key factors such as increasing demand of electric vehicles globally and growing demand for light passenger vehicles & heavy-duty vehicles are driving the market growth. However, entry of voice recognition and fluctuating prices of raw materials used in manufacturing switches are the restraining factors for the market growth. Moreover, high demand for electric vehicles and growing vehicle sales, production will provide ample opportunities for the growth of the market.
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Automotive switch is like an electromechanical device that is used to operate an electrical circuit. Switches are also used in engine start and stop function and in different vehicle operations for a wide variety of applications such as infotainment system, HVAC system, and electronic component systems. It helps the driver to control the direction indicators, infotainment, windows, and headlights without getting distracted from driving. Nowadays, Illuminated switches are provided in the vehicles to indicate the actuation about a specific function, thus making it convenient for the user to locate and identify the switch position during low light. It is provided in a number of switches, including rocker switches, push button switches, toggle switches and rotary switches.
By switch type, rotary switch segment is likely to grow with highest CAGR during the forecast period because rotary switch provide a wide array of options rather than the two or three provided by the other switch types. By geography, Asia-Pacific is expected to observe significant growth in the forecast period, owing to increasing automotive industry and adoption of latest technology driving the market growth in this region.
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Some of the key players in this market include Delphi Automotive, Bosch, Panasonic, TRW Automotive, Alps Electric, ZF Friedrichshafen, Continental, Uno Minda Group, Omron Corporation and Tokai Rika.
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Switch Types Covered:
• Push button switches
• Toggle switches
• Interior Control Switches
• Rotary switches
• Rocker switches
• Access Management Switches and Powertrain
• Other Types
Vehicle Types Covered:
• Commercial Vehicle
• Electric Vehicles
• Passenger Cars
• Two Wheelers
• Other Product Types
• Safety systems
• Body control
• EMS Switches
• Electronic System Switches
• Indicator system switches
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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