Automotive Switch Market – Global Industry Analysis and Forecast (2017-2026)
Automotive Switch Market size is valued at US$ 27 Bn in 2017 and expected to grow at a CAGR of 8% in the forecasting period. Growing consumer preference for integrated electronics inside the vehicle owing to the convenience and improved safety will drive the automotive switch market size. Increasing automobile demand globally will augment shipments in the coming years.
The automobile production has increased by 13% from 2012 to 2016 globally. Vehicles that are manufactured currently include a complex combination of integrated mechanical structures and intelligent electronic systems. Switches are an integral part of electronic systems and help in the overall functionality of the vehicle. Modern automobiles are equipped with numerous electronic systems such as HVAC, infotainment, window, heated seats, electric steering, acceleration, transmission, and headlight controls.
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Technological advancements in automotive electronics have resulted in improving user connectivity and increasing the efficiency of the vehicle, this will prove favorable for the automotive switch market. It does not require the high degree of human intervention as they respond to electric signals automatically and benefit the drivers in managing the systems without getting preoccupied. With innovation, the designs have grown from the single on-off function units to a combination that can be used for cruise control and turn signals, wipers, and lights.
The automotive switch market is segmented based on product, application, end-use, and geography. By product segment, the market is segmented into knob, lever, button, and touchpad. Touchpad accounts for the major share in automotive switch market owing to their usage in recreational activities. Increasing adoption of touchscreen panels by OEMs has raised the demand for feedback touch controls. Adding smartphone functionality to vehicles will also result in a significant growth of touch panels and touchpads over the forecast timeline.
These are easier to maintain and integrate and can be updated and managed remotely using the software. They have minimum moving parts which reduce the chance of breakage. Improved aesthetics provided by touch panels reduces the clutter of a cockpit and can display rich media. These benefits have eroded the automotive switch market share for knobs, buttons & levers. By applications segment, the market is segmented into HVAC, indicator system and EMS. By end-use segment, the market is segmented into commercial vehicles and passenger vehicles.
Geographically, the automotive switch market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia-Pacific is expected to be the largest market for Automotive Switch during the forecast period. The significant China automotive switch market size has led to considerable demand in the Asia Pacific. APAC has witnessed about 20% automobile production growth from 2012 to 2016, supported by China, India, Japan, and South Korea. Increased number of passenger and commercial vehicles has raised the demand for technologically advanced components to be incorporated into vehicles.
Key player across the Automotive Switch industry are Delphi, Continental, Omron, Tokai Rika, Hella, and ZF TRW. Switch failure is the biggest threat to the automotive industry as it is responsible for activating/deactivating a function or safety command. For instance, General Motors recalled 5.8 million vehicles in 2014 for an ignition switch defect. This recall affected Grand Am, Malibu, Alero, and other cars. The automotive switch market is characterized by regional expansion to meet the production demand and new product development to achieve fail-safe components for incorporation into automobiles.
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Automotive Switch Market Scope
Automotive Switch Market, By Product
• Knob
• Lever
• Button
• Touchpad
Automotive Switch Market, By Application
• HVAC
• Indicator System
• EMS
Automotive Switch Market, By End-Use
• Commercial Vehicles
• Passenger Vehicles
Automotive Switch Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Automotive Switch Market:
• Delphi
• Continental
• Omron
• Tokai Rika
• Hella
• ZF TRW
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Automotive Switch market outlook. The report encompasses the Automotive Switch market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Automotive Switch market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Automotive Switch market positioning of competitors.
MAJOR TOC OF THE REPORT
Chapter One: Automotive Switch Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Automotive Switch Market Competition, by Players
Chapter Four: Global Automotive Switch Market Size by Regions
Chapter Five: North America Automotive Switch Revenue by Countries
Chapter Six: Europe Automotive Switch Revenue by Countries
Chapter Seven: Asia-Pacific Automotive Switch Revenue by Countries
Chapter Eight: South America Automotive Switch Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Automotive Switch by Countries
Chapter Ten: Global Automotive Switch Market Segment by Type
Chapter Eleven: Global Automotive Switch Market Segment by Application
Chapter Twelve: Global Automotive Switch Market Size Forecast (2019-2026)
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