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Growing emphasis on vehicle safety along with the need to support integrated functions in modern vehicle systems will bolster global automotive switch market forecast. Rise in disposable income among people in both developed and emerging nations is propelling the demand for HCVs and LCVs which boast a variety of automotive switches to facilitate improved functions. The product carries various mechanical applications like toggle, rocker, rotary pushbuttons, multifunction and others.
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KeyInsights Automotive Switch Market : • Growing emphasis on vehicle safety along with the need to support integrated functions in modern vehicle systems will bolster global automotive switch market forecast. Rise in disposable income among people in both developed and emerging nations is propelling the demand for HCVs and LCVs which boast a variety of automotive switches to facilitate improved functions. The product carries various mechanical applications like toggle, rocker, rotary pushbuttons, multifunction and others. • 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.
Continued… • 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. • 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.
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Major Companies Automotive Switch Market : • Alps Electric • C&K Components • COBO S.p.A. • Continental AG • Delphi Technologies • GSK InTek • Hella KGaAHueck
Regional Automotive Switch Market : • Improving disposable income among people in emerging countries across Asia Pacific will expand regional opportunities in automotive switch industry over the period of study. • Reportedly, APAC automotive switch market is expected to showcase notable CAGR of 4% through 2026.
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