The global automotive switch market reached a value of US$ 26.05 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 36.56 Billion by 2027, exhibiting a CAGR of 5.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Automotive switches are one of the essential components that regulate electrical systems installed in automobiles. They offer reliable circuit control for the vehicle ignition and are considered ideal for on and off highway, marine, and testing equipment. They are used for safety and preventing battery drain when a vehicle is idle for a period. At present, the increasing demand for luxury vehicle models is impelling the market growth.
Automotive Switch Market Trends:
At present, there is a rise in the demand for electric vehicles (EVs) due to low fuel consumption among the masses. This, along with the growing demand for heavy-duty and light passenger vehicles, represents one of the key factors driving the market. Moreover, there is an increase in the implementation of electronic systems in vehicles. This, coupled with the increasing need for comfort and safety systems in vehicles, is propelling the growth of the market. In addition, there is a rise in the utilization of various automotive electronics, such as heating, ventilation, and air conditioning (HVAC) and infotainment systems. In line with this, the burgeoning automotive industry is offering lucrative growth opportunities to industry investors. Besides this, the growing advancement in agriculture tractors, especially in the developing regions, is positively influencing the market. Apart from this, the rising use of combination or multi-function switches that can perform various functions, such as wiper systems, lighting systems, and cruise control, is catalyzing the demand for automotive switches. Additionally, key market players are extensively investing in research and development (R&D) activities to introduce enhanced switches for better control and stability features. These innovations are expected to bolster the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive switch market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, design, vehicle type and sales channel.
Breakup by Type:
Steering Wheel Switches
Overhead Console Switches
Seat Control Switches
Breakup by Design:
Breakup by Vehicle Type:
Light Commercial Vehicles
Heavy Commercial Vehicles
Breakup by Sales Channel:
Original Equipment Manufacturers
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alps Alpine Co. Ltd., C&K, Eaton Corporation PLC, HELLA GmbH & Co. KGaA (Faurecia SE), INENSY, Johnson Electric Holdings Limited, Marquardt Group, Omron Corporation, Panasonic Holdings Corporation, Preh GmbH, TokaiRika Co. Ltd, Valeo and ZF Friedrichshafen AG (Zeppelin-Stiftung).
Key questions answered in this report:
How has the global automotive switch market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive switch market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the design?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the sales channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive switch market and who are the key players?
What is the degree of competition in the industry?