The APAC automotive switch market is expected to showcase notable CAGR of 4% through 2026. Improving disposable income among people in emerging countries across Asia Pacific will expand regional opportunities in automotive switch industry over the period of study.
Developments in the automobile sector owing to product innovations will support the industry dynamics. With an aim to enhance passenger-vehicle safety, countries like China, India and Japan are recording increased use of ADAS and other safety systems. Additionally, there increasing adoption of electric vehicles in the region owing to stringent regulations by the government to reduce carbon emission levels and adequate awareness among the people.
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Automotive switches allow OEMs to provide additional vehicular features such as telematics, infotainment system, driver assistant technology and telematics and several other elements. Global automotive switch market share is estimated to exceed USD 16 billion in value by 2026. Suppliers outlining the competitive dynamics of the industry include COBO S.p.A, Delphi Technologies, Alps Electric, Leopold Kostal, C&K Components and Omron Corporation, among various others.
Automotive switches find application in LCV, PCV, two-wheelers and HCV vehicles. Increasing purchase of two-wheelers especially in developing nations is driven by benefits like low cost of maintenance and operation along with easier commute options. Two-wheelers are highly vulnerable to extreme weather conditions like dust and rain, propelling the market players to develop sturdy and waterproof switches that render protection from short-circuits and restrict heat build-up.
Increasing environmental degradation has led to the demand for environmentally friendly vehicle solutions. Similar efforts are carried out in the two-wheeler industry leading to the introduction of electric bikes. Two-wheeler automotive switch market size is expected to register a growth rate of more than 3% CAGR over 2020 to 2026 owing to the escalating demand for electric scooters and premium electric bikes.
Due to the presence of multiple electronic systems, more automotive switches are required as compared to conventional vehicles. With respect to application, engine management system segment will lead automotive switch market share in the near future. This is mainly due to the wide use of switches used in the engines to control various vehicle functions like oil pressure gauge, reversing light, coolant temperature gauge, parking sensors, brake light, and door lights.
EMS switches carry the ability to resist extreme temperatures and provide accurate sensitivity. In the year 2019, engine management system switches accounted for more than 15% of the total automotive switches consumption. The global share will witness robust growth in the coming years due to innovations in automobiles as well as the need for innovative engine systems and in-vehicle features.
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Some Point from Table of Contents:
Chapter 4 Automotive Switch Market, By Vehicle
4.1 Key trends, by vehicle type
4.2.1 Market estimates and forecast, 2015-2026
4.2.2 Market estimates and forecast, by product 2015 – 2026
4.3.1 Market estimates and forecast, 2015-2026
4.3.2 Market estimates and forecast, by product 2015 – 2026
4.4.1 Market estimates and forecast, 2015-2026
4.4.2 Market estimates and forecast, by product 2015 – 2026
4.4.3 Market estimates and forecast, by end-use 2015 – 2026
4.5 Two wheelers
4.5.1 Market estimates and forecast, 2015-2026
4.5.2 Market estimates and forecast, by product 2015 – 2026
Chapter 5 Automotive Switch Market, By Product
5.1 Key trends, by product
5.2 Push-button switches
5.2.1 Market estimates and forecast, 2015-2026
5.3 Rocker switches
5.3.1 Market estimates and forecast, 2015-2026
5.4 Rotary switches
5.4.1 Market estimates and forecast, 2015-2026
5.5 Toggle switches
5.5.1 Market estimates and forecast, 2015-2026
5.6 Multi-function switches
5.6.1 Automotive Switch Market estimates and forecast, 2015-2026
5.7.1 Market estimates and forecast, 2015-2026
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