Automotive Switches Market trends: The Global automotive switches market valued $28,656.1 million in 2019 and is projected to reach $43,269.2 million in 2027, registering a CAGR of 7.6%.
The global automotive industry has experienced tremendous transformation in past few years. The ever-growing demand for passenger safety and comfort is making the vehicle manufacturers focus on incessantly on forming new design experiences by enabling efficient incorporation of new technologies and processes. The dramatic change from the usage of mechanical parts to electronic parts is anticipated to fortify the demand for automotive switches up to a great degree over the forecast time frame.
Automotive switches are one of the basic components of a vehicle. They regulate the entire electrical equipment installed in an automobile. Automotive switches play a crucial role in managing the automotive lighting and nearly all the working inside an automotive. They are also used for engine start & stop applications and several other automobile functions. Globally, increasing technological upgrades and rising demand for installing car accessories are expected to boost the growth of the automotive switches market over the forecast period.
The automotive switches market is segmented into type,design, vehicle type,sales channel,and region,based on type,it is further divided into ignition switches, HVAC switches., steering wheel switches, window switches, overhead console switches, seat control switches, door switches,hazard switches, multi-purpose switches, and others. Based on design, it is classified into rocker switches, rotary switches, toggle switches,push switches, and other switches. depending on the vehicle type, it is fragmented into passenger car, light commercial vehicles, and heavy commercial vehicles. Based on sales channel, it is bifurcated into original equipment manufacturers and aftermarket, region-wise, the market is analyzed across north America, Europe, Asia-Pacific, and LAMEA.
Commercial vehicles are immensely useful in supporting the rising urbanization and industrialization, especially across developing nations across the world. According to the OICA,the global sales of commercial vehicles stood at 26,693,300 vehicles in 2019 and 24,372,388 in 2020. the sales of commercial vehicles were down by just 8.69% in 2020 in contrast with a sharp decline of 15.89% in the passenger car segment, thereby indicating a strong demand for commercial vehicles across the globe. While electronic switching component are widely used for the electrical systems of passenger vehicles, commercial vehicle manufacturer are installing a rising number of automotive switches to offer comfortable, convenient, and safe setting inside a bus, truck, van, and others. To respond to the rising demand for convenient and user-friendly automotive switches, companies, such as carling technologies, have launched several automotive switches in the market. Carling technologies, a switch and circuit breaker manufacturer, launched the CSW automotive switch series in September 2019. the product features a three-position lever, multi-position rotary, and momentary push button functions that are well suited for a variety of commercial vehicles.
Automotive switches are one of the most important components in an automotive. They control the entire electrical equipment installed in an automotive. They are crucial in controlling various functioning of an automotive such as lights, engine start/stop, mirror controls, and others. While these functions can be done by manual automotive switches, automatic switches are gaining immense popularity across the global, owing to the added convenience that they allow as they function appropriately, without any human intervention. Such switches reduce the distraction of driver and offer an enhanced safety feature.
Automatic switches operate in accordance to the response sent by different sensors. They are generally installed in luxury passenger cars and other high-end automotive. When the light switch is set to auto. The headlamps are automatically turned on according to the low ambient light conditions, for example, when the car crosses a tunnel sunset or during rain/snow. Similarly, automatic switches enhance the convenience of driving an automotive by sensor senses low immediate surrounding light from headlights behind the car and guides the rear-view sensor to check for glare. The mirrors dim on their own in accordance to how sharp the glare is, and it clears automatically in mishaps. Luxury are manufacturers equip their cars with several automatic automotive switches to enhance the driving experience and safety of the passengers. Therefore, the rising demand for automatic automotive switches is expected to drive the growth of the global automotive switch market over the forecast time frame.
The security of drivers have always been the main concern for car manufacturers across the globe. Attributed to numerous car accidents occurring every year, incorporating technologies into a car ensures the safety of passengers. Therefore, the automotive industry is constantly working to find means for improving passengers safety. One such technology that can reduce the distraction of drivers from infotainment screens and operating different automotive switches is haptic technology . this technology relates to the perception of touch, and is rapidly being implemented by the automotive industry as a means to offer the drivers a more intuitive informed driving experience. Big car manufacturers are aggressively working to integrate haptic technology into their car.
Another technology that is gaining traction in the automotive sector is the in-car voice control. This technology reduces the distractions that cone while driving and requires the voice commands from the driver to actuate several functions in a car, thus eliminating the requirement for the driver to divert his attention away from the road. This technology have been adopted by numerous players worldwide.
The above mentioned technologies are anticipated to hinder the growth of the global automotive switches market as they reduce the number of automotive switches installed in an automobile.
Over the last few decades, mechanical switches were used to operate majority of the functions applications in a vehicle. Nowadays, the OEMs have started replacing mechanical switches to electronic. With the rising demand for more convenient and smart operability of different functions in an automobile, numerous manufacturers are installing more electronics in their vehicles. They are more responsive, fast in operation, and more economical than mechanical switches. The use of electronics offers superior comfort,connectivity, efficiency and safety in passenger cars and light and heavy commercial vehicles. Over the years electronics is anticipated to account for major portion of the overall cost of cars.
The global automotive switches market is expected to witness significant growth due to the rising demand for automotive switches to the fitted in automobiles to enhance the safety, comfort, and convenience of the passengers and the driver. Automotive switches are fitted for different functions such as cruise control,lights control,wipers control, HVAC control and several others.
Growing demand for automotive switches in commercial vehicles and rising demand for automatic automotive switches are expected to drive the automotive switches market growth over the forecast period. However, the rising use of haptic and the fluctuating price of raw materials used in making automotive switches are anticipated to hamper the growth of the market during the forecast period. Moreover growing implementation of electronic systems in vehicles and innovations in automotive switches are expected to offer lucrative opportunities for the market in future.
Automotive switches of different types, for instance toggle, rocker,push button, rotary,and others are commonly found across all the 12V electronic systems. Enabling and simplifying the function of turning lights on to controlling critical system. The growing demand for safety systems in the automobile sector have resulted in rising adoption of safety switches and sensors across all vehicle types globally. The growing concern for safety and the shifting of the global automobile industry toward the usage of enhanced technologies are the main driving factors for the growth of the global automotive switches market. Furthermore, the ever changing consumer preference for the installation of car accessories have forced automotive manufacturers to provide superior safety and comfort features in their automobiles.
One of the dominant trends in the automotive industry is the increasing use of electronics in vehicles, which is expected to drive the market growth over the forecast period. The growing consumer demand for superior driving experience and product offerings by OEMs to offer more safety,comfort, higher performance, and stability is projected to propel the market growth over the years. It have resulted in intensification of the demand for electronic switches across the globe.
The increasing demand for automotive switches that can enhance the experience of infotainment is a major driver that is expected to fuel the use of microelectronics in automobiles, in addition. Rising initiatives by nations across the globe to reduce accidents and lessen road causalities are expected to boost the demand for automotive switches and sensors that offer superior capabilities.
Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by Europe,North America. And LAMEA. On the basis of forecast analysis, Asia pacific is expected to maintain its lead during the forecast period, owing to the growing automotive industry in the region and presence of countries, such as China and India. Which are the global production hubs for automotive components.
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