Automotive switches market from engine management applications is anticipated to grow at an annual rate of more than 4% over 2016-2024. Spreading awareness of automobile safety while driving has favored the market growth for engine management applications. Anti- lock pressure, traction control, clutch release, and parking brake are some components that are incorporated in safety engine management application.
Automotive switches market share in engine management system sector is projected to grow at a CAGR of 4% over 2017-2024, subject to high product demand across hybrid and electric vehicles. Based on the product trends, Automotive switches market is segmented into various products such as touchpads, knobs, buttons, and levers. Button automotive switch industry is predicted to experience a significant surge over the coming years, driven by the escalated use in passenger and commercial vehicles
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Asia Pacific automotive switches market will observe the highest CAGR fueled by the growing automotive industry. Rising number of automobile manufacturing facilities in India and China owing to the lesser cost of production, improving production capacity, and surging demand for heavy and light vehicles are driving the industry in these nations.
North America Automotive switches market is expected to have a significant growth over the projected period. This can be attributed to the increasing vehicle manufacturing facilities in Mexico owing to the lower production cost and cheap labor, pushing the production volume in this region and driving the industry growth.
The luxury vehicle manufacturers are including screen touch panels in their cars for electronic operations, which will hinder the global Automotive switches market growth. Also, after continuous use of these switches, their service starts failing and delays the processes, which can slow down the industry growth.
Some of the key companies in automotive switches market include Continental Group, Robert Bosch, TRW Automotive, Hella, Tokai Rika, Omron, Panasonic Corporation, and Delphi. These major players are engaged in collaborating with domestic players and launching technologically advanced products to generate more revenue and sustain in the industry.
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Glimpse of Table of Content (ToC): –
Chapter 5. Automotive switches Industry, By Application
5.1. Global Automotive switches Industry share by application, 2016 & 2024
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Indicator system switches
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. EMS Switches
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
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