The Global Automotive Switches Market size is expected to reach $43. 3 billion by 2027, rising at a market growth of 6. 9% CAGR during the forecast period. In the past few years, the automotive sector has registered a substantial transformation.
New York, May 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Automotive Switches Market By Type, By Vehicle Type, By Sales Channel, By Design, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06075897/?utm_source=GNW
The rising demand for passenger security & comfort is compelling the automotive manufacturers to increasingly aim at developing the latest design experiences by an ideal blend of new technology & workflow. The demand for automotive switches will boost due to the major change from mechanical gears to electronic gears.
One of the main parts of an automotive is the automotive switches. These switches manage the complete electrical systems integrated in an automotive. Automotive switches play a crucial role in managing the automotive lighting & complete functioning of an automotive. They are also utilized in engine start & stop function and in a wide range of vehicle operations. There are many different kinds of switches that are utilized for numerous functioning of automotive such as push & pull switches, keyed switches, toggle switches, and marine-grade switches among others.
Owing to technological advancements and rising consumption expenditure, the automotive switches are witnessing massive demand around the world. Automotive switches are mainly divided into two categories, water-resistant switches and non-water-resistant switches. The water-resistant automotive switches are becoming more popular because of the open nature of two-wheeler vehicles that consistently face extreme atmospheric conditions.
COVID 19 Impact
With the outbreak of the COVID-19 pandemic, almost every nation underwent a nationwide lockdown for a considerable time period that had severely affected vehicle production. Due to the pandemic, manufacturing facilities across the globe were closed, which further affected automotive production on a global level, and thus, sales of vehicles have also declined. However, certain OEMs have restarted their production, but the automotive switches market would still observe a notable decline in the coming years. The COVID-19 pandemic negatively affected the ICE vehicle production, but many automakers are still aiming at development of numerous automotive switches systems. In addition, considering the recovery path in the global automotive sector, many latest product developments, expansions & collaborations have initiated, thus signifying a positive perspective for the automotive switches market in the forthcoming years.
Based on Type, the market is segmented into HVAC Switches, Steering Wheel Switches, Ignition Switches, Multi-purpose Switches, Door & Window Switches, Seat Control Switches, Overhead Console Switches and Others. The HVAC switches segment dominated the market with the largest revenue share in 2020. The increasing demand for climate control systems in automobiles around the world is responsible for the segment massive share. The increment in demand for automatic climate control systems across the globe is acting as the catalyst for the growth of automotive switches services.
Vehicle Type Outlook
Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles. The HCVs would exhibit a promising growth rate over the forecast period. The growing demand for luxury features and improved driving experience & performance will further fuel the demand for different automotive electronics like HVAC & infotainment systems. It will further support the demand for automotive switches in mid-range and commercial automobiles.
Sales Channel Outlook
Based on Sales Channel, the market is segmented into Original Equipment Manufacturers and Aftermarket. In 2020, the original equipment manufacturers segment procured the maximum revenue share since they especially develop switches for automobile companies like Toyota Motor Corporation, Honda Motor Co., Hyundai Motor, and other giants.
Based on Design, the market is segmented into Push Switches, Rotary Switches, Toggle Switches, Rocker Switches and Others. The market trend for Electric Vehicles (EVs) is increasing owing to less fuel consumption and less pollution, which would increase the usage of automotive switches in the vehicle manufacturing sector. The drive train electrification in EV needs a wide variety of switches, sensors, microcontrollers and other power electronics. Various governments of emerging nations are introducing several schemes to boost the adoption of electric vehicles.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Region-wise, Asia Pacific would emerge as the leading region in terms of revenue share during the forecast period. This growth is attributed to the increasing popularity of premium or luxury vehicles, especially in China. In addition, rising penetration of upgraded systems like infotainment display, automatic transmission, front & rear air conditioning in vehicles manufactured is accelerating the regional market. Japan and South Korea region have a high penetration of electronics, and therefore holds a substantial share in the Asia Pacific.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Panasonic Corporation is the major forerunner in the Automotive Switches Market. Companies such as Alps Alpine Co., Ltd., C&K Components, Inc., and Continental AG are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Alps Alpine Co., Ltd., Panasonic Corporation, ZF Friedrichshafen AG, Valeo SA, Johnson Electric Holdings Limited, HELLA GmbH & Co. KGaA, C&K Components, Inc. (Sun European Partners, LLP), and Toyodenso Co., Ltd.
Strategies deployed in Automotive Switches Market
Mar-2021: Alps Alpine expanded its SPVQ8 Series lineup of compact switches for usage in identifying the opening & closing of vehicle doors and launched the SPVQ8H Series. The company also launched the SPVQ8H Series, which adds up the casings to the prevailing products to improve robustness and enhance mounting compatibility.
Mar-2021: HELLA joined hands with Independent Vehicle Data Provider, Wejo. This collaboration focuses on developing the latest data-based business models and further improve the performance of HELLA’s sensor portfolio. Under this collaboration, HELLA’s sensor expertise would help Wejo to detect new use cases for connected vehicle data.
Jan-2021: Alps Alpine entered into an agreement with Nippon Seiki, a major manufacturer of automotive meters and instruments. This agreement aims to improve the global competitiveness and value for users. The companies also focused on applying their respective technological and product strengths to joint activities including the product development centred on next-generation integrated cockpits.
Dec-2020: Panasonic unveiled Turquoise Stroke Mini Switches with Built-in Resistors. They are small waterproof switches with a wiring failure detection function, which enhances the safety of automobiles.
Oct-2020: Continental AG announced the acquisition of a minority stake in California lidar startup, Aeye Inc. This acquisition will strengthen its position in the market for automated driving systems.
May-2020: ZF Friedrichshafen AG took over WABCO, an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. This acquisition aimed to integrate the company into ZF as its Commercial Vehicle Control Systems Division. Both the companies will make global integrated systems for commercial vehicle technology.
Apr-2019: Alps Alpine launched SKTR Series in its TACT Switch lineup. The compact, middle stroke type TACT Switch realized an earlier unachieved highly tangible and sharp push feel together with a silent operation that makes it suitable for its usage as an input device in vehicles.
Mar-2019: HELLA came into partnership with Pitstop. This partnership aimed to adopt onboard multi-brand workshops under project ‘Unnayan’ all over India. Both the companies would work together to upgrade infrastructure, strengthen skilled labour, and implement industry best practices developing a robust and competitive ecosystem in the automotive service sector.
Sep-2018: Valeo signed a memorandum of understanding (MoU) with WABCO. This MoU aimed to bring the new active safety technologies to the commercial vehicles market to safeguard the pedestrians and cyclists in city traffic and allow autonomous driving features. Through this MoU, the companies would play a leading role in the Advanced Driver Assistance Systems (ADAS) & Automated Driving (AD) markets for commercial vehicles.
Aug-2018: C&K unveiled its new KSC PF switch. This launch focuses on giving designers a next-generation switch solution, which is compact and resilient to water ingress and developed to be potting friendly.
Oct-2017: C&K expanded its offerings by adding a 12mm mid-travel tact switch with a soft sound and positive haptic feeling solution to its comprehensive tactile switch product portfolio. It is suitable for panel, automotive, and control applications in various industries, the 12mm SFS Series tact switch offers a soft sound with a positive haptic feeling.
Oct-2017: Valeo acquired FTE Automotive, a leading producer of actuators. This acquisition aimed to enable Valeo to expand its capabilities of active hydraulic actuators, a strategic and fast-growing market, which benefited from the increasing hybrid and electric vehicles.
Oct-2017: HELLA expanded its geographical footprints in India by setting up a second electronics plant near the city of Mehsana in Gujarat. This expansion enabled the company to fulfil the increasing demand for lighting and electronics products even better, and also offer custom-made solutions for the Indian market.
Jul-2017: Panasonic acquired the additional shares in Ficosa International, a global tier 1 supplier of automotive parts and systems. Through this acquisition, Panasonic owned 69% of the issued shares of Ficosa that makes it a consolidated subsidiary. This acquisition aimed to integrate their respective technologies to collaboratively develop products like next-generation cockpit systems, electronic mirror systems, and Advanced Driver Assistance Systems (ADAS).
Scope of the Study
Market Segments covered in the Report:
• HVAC Switches
• Steering Wheel Switches
• Ignition Switches
• Multi-purpose Switches
• Door & Window Switches
• Seat Control Switches
• Overhead Console Switches
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Sales Channel
• Original Equipment Manufacturers
• Push Switches
• Rotary Switches
• Toggle Switches
• Rocker Switches
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Robert Bosch GmbH
• Continental AG
• Alps Alpine Co., Ltd.
• Panasonic Corporation
• ZF Friedrichshafen AG
• Valeo SA
• Johnson Electric Holdings Limited
• HELLA GmbH & Co. KGaA
• C&K Components, Inc. (Sun European Partners, LLP)
• Toyodenso Co., Ltd.
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