What Has Been The Evolution of the Automotive Pedals Market in Recent Years?
The automotive pedals market has seen considerable growth due to a variety of factors.
• The market size for automotive pedals has seen significant growth in the past few years. The market size is projected to increase from $2.41 billion in 2024 to $2.54 billion in 2025, showing a compound annual growth rate (CAGR) of 5.3%.
The historical growth could be credited to the expansion of the automotive industry, rise in vehicle manufacturing, preference of consumers for manual transmission, surge in replacement and aftermarket sales, as well as a globalized automotive supply chain.
What Is the Forecasted Market Size and Growth Rate for The Automotive Pedals Market Size In The Coming Years?
The automotive pedals market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the market for automotive pedals is projected to experience consistent growth in the forthcoming years, reaching a value of $3.02 billion in 2029, representing a compound annual growth rate (CAGR) of 4.4%.
This expansion throughout the predicted period is largely due to shifts towards electric and self-driving vehicles, incorporating cutting-edge sensor technologies, emphasis on less heavy materials, ergonomic design for driver comfort, customization, and aesthetic appeal. Noteworthy trends in the forecast period encompass the production of intelligent pedals equipped with sensors, the launch of brake-by-wire systems, focusing on lightweight and ergonomic pedal configurations, adaptation of adjustable pedal systems and the integration of biometric sensors into accelerator pedals.
What Factors Are Driving Growth In The Automotive Pedals Market?
The growth of automobile pedals market is anticipated to be fueled by an escalating demand for commercial vehicles. Commercial vehicles, which are essentially used for business-oriented purposes such as goods or passenger transportation for profit, require automotive pedals for controlling acceleration, braking, and clutch functions. These controls are critical for safe and efficient vehicular operation. An example of this growth trend is seen in July 2023, when according to the European Automobile Manufacturers Association, which represents European car, truck, and bus manufacturers, there was an increase in new commercial vehicle registrations in the European Union (EU). The rate of increase was 11.2% (730,969) for vans, 20% (179,508) for trucks, and 15% (14,781) for buses in the first half of 2023, compared to 657,180 vans, 149,595 trucks, and 12,857 buses in the first half of 2022. This rising demand for commercial vehicles implies growth in the automotive pedals market. Automotive Pedals Market Driver: Growth Of Automotive Pedals Market Spurred By Increasing Road Accidents
What Are The Main Segments Of The Global Automotive Pedals Market?
The automotive pedals market covered in this report is segmented –
1) By Pedal Type: Accelerator, Brake, Clutch
2) By Material: Steel, Aluminum, Magnesium, Plastic, Other Materials
3) By Application: Passenger Cars, Commercial Vehicles
Subsegments:
1) By Accelerator: Electronic Accelerator Pedals, Mechanical Accelerator Pedals
2) By Brake: Floor-mounted Brake Pedals, Suspended Brake Pedals
3) By Clutch: Hydraulic Clutch Pedals, Cable-Operated Clutch Pedals
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How Are Emerging Trends Reshaping The Dynamics Of The Automotive Pedals Market?
Major organizations in the automotive pedals market are concentrating on innovating new products, such as brake pedal position sensors, to heighten vehicle safety and boost driver control. This sensor is a device that tracks the location and movement of the brake pedal and sends real-time information to the car's control systems. For example, in October 2024, Melexis, a microelectronics engineering company based in Belgium, introduced MLX90424. MLX90424 is a brake pedal position sensor that includes an inbuilt wake-up function, improving automobile safety and effectiveness. This transformative sensor is intended to deliver precise linear displacement readings of up to 30mm and can be directly powered by a 12V battery, getting rid of the requirement for extra regulators, thereby making automotive system designs simpler and lowering component prices. It integrates two position-sensing ICs and a wake-up switch into one, compact package, making the assembly process more efficient than conventional systems that call for separate sensors and switches.
Who Are the Key Players In The Automotive Pedals Market?
Major companies operating in the automotive pedals market report are:
• Mercedes-Benz Group AG
• Honda Motor Co. Ltd.
• Robert Bosch GmbH
• DENSO Corporation
• ZF Friedrichshafen AG
• Continental AG
• Faurecia SE
• Lear Corporation
• Samvardhana Motherson International Ltd.
• Knorr-Bremse AG
• HL Mando Corporation
• Toyoda Iron Works Co. Ltd.
• Pacific Industrial Co. Ltd.
• F.TECH Inc.
• Yorozu Corporation
• Dura Automotive LLC
• Mikuni Corporation
• CTS Corporation
• Shanghai Kaizhong Materials Science and Technology Co. Ltd.
• Kyung Chang Industrial Co. Ltd.
• Brano Group A.S.
• KSR International Inc.
• BATZ S. COOP. LTDA
• F&P America Mfg. Inc.
• CJ Automotive AB
• Bellsonica Corporation
What Is The Most Dominant Region In The Automotive Pedals Market?
Asia-Pacific was the largest region in the automotive pedals market in 2024. The regions covered in the automotive pedals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
