Pune,India, April 06, 2022 (GLOBE NEWSWIRE) -- Automotive switch market is anticipated to grow at a steady growth rate over the forecast period, owing to growing demand for luxury vehicle models and heavy-duty vehicles. Automotive switches are an essential components in an automotive to control all of the electrical equipment. It controls automotive lighting along with overall functioning of vehicle including engine start and stop function. The number of switches used in automotive includes toggle switches, keyed switches, push & pull switches, and marine grade switches among others.
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Automatic switches are rapidly being used in premium passenger cars while manual switches are being used in different kinds of automotive such as passenger cars, heavy commercial vehicles (HCV), and light commercial vehicles (LCV).
Key Insights & Findings:
- The ignition switches segment led the automotive switch market and valued at USD 1.59 Billion in 2020. This is mainly due to need for control system to activate electrical systems in the vehicle.
- The rocker switches segment led the automotive switch market and valued at USD 1.87 Billion in 2020. A different automobile systems such as power door lock switch, rear window defogger grids, heated seat switches, and power window controls contains rocker switches, fuelling growth of the segment.
- The passenger cars segment accounted for the largest market share and valued at USD 2.54 Billion in 2020. Growth of this segment is mainly driven by rising adoption of combination or multi-function switches in luxury passenger cars which perform functions such as wiper system, cruise control, lighting system, and others.
- The original equipment manufacturers segment accounted for the largest market share and valued at USD 4.03 Billion in 2020. Growth of this segment is mainly driven by strategic integration of electronics by original equipment manufacturers for enhancing user functionality and appeal.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia-Pacific region emerged as the largest market for the automotive switch market and valued at USD 2.29 Billion in 2020. A number of factors such as large population base, increasing disposable income of populations, and rapidly growth in automotive industry in China boosts demand for the automotive switch in Asia-Pacific.
Key players operating in the global automotive switch market Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Alps Alpine Co., Ltd., Panasonic Corporation, Delphi Technologies, Leopold Kostal GmbH & Co. KG, Valeo, Marquardt GmbH, and Preh GmbH among others. To enhance their market share in the global automotive switch market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in March 2021, Alps Alpine Co., Ltd., one of the leading market players has expanded its SPVQ8 Series lineup of compact switches for usage in detecting the closing and opening of vehicle doors and has newly introduced the SPVQ8H Series.
- In May 2020, ZF Friedrichshafen AG, one of the leading market players acquired WABCO, the commercial vehicle technology supplier. This acquisition is projected to bring new dimension of innovation as well as capability for commercial vehicle systems technology.
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Global Automotive switch Market by Type:
- Ignition Switches
- HVAC Switches
- Overhead Console Switches
- Steering Wheel Switches
- Window Switches
- Seat Control Switches
- Door Switches
- Multi-Purpose Switches
- Hazard Switches
- Others
Global Automotive switch Market by Design:
- Rocker Switches
- Toggle Switches
- Rotary Switches
- Push Switches
- Other Switches
Global Automotive switch Market by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Global Automotive switch Market by Sales Channel:
- Original Equipment Manufacturers
- Aftermarket
Global Automotive switch Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the automotive switch market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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