Global Automotive Switch market research 2024, Forecast To 2033
25 Jan, 2024
The automotive switch market has witnessed strong growth, escalating from $21.65 billion in 2023 to $23.75 billion in 2024 at a CAGR of 9.7%. Historical growth is attributed to the increase in vehicle production, safety regulations, growth in the electric vehicle (EV) market, aging vehicle fleet, and rapid urbanization. Looking ahead to 2028, the market size is expected to reach $33.96 billion, with a CAGR of 9.4%, driven by factors such as rising autonomous vehicles, economic market growth, adoption of automotive electronics, and rising disposable income. Major trends in the forecast period include touch and gesture controls, haptic feedback switches, modular and multi-function switches, human-machine interface (HMI) integration, and aftermarket customization.
Global Automotive Switch Market Key Driver
The automotive switch market witnesses growth propelled by the increasing adoption of electric vehicles globally. Electric vehicles, with low running costs and environmentally friendly features, experienced a 160% sales increase in the first half of 2021, reaching 0.26 billion units sold. The surge in electric vehicle adoption, especially in China, the US, and Europe, drives the demand for automotive switches, essential internal components in cars.
Get A Free Sample Of The Global Automotive Switch Market ReportGlobal Automotive Switch Market Segments
The global automotive switch market covered in this report is segmented –
1) By Type: Ignition Switches, HVAC Switches, Steering Wheel Switches, Window Switches, Overhead Console Switches, Seat Control Switches, Door Switches, Hazard Switches, Multi-purpose Switches, Other Types
2) By Design: Rocket Switches, Rotary Switches, Toggle switches, Push Switches
3) By Vehicle: PCV, LCV, HCV, Two Wheelers
4) By Application: Indicator System Switches, HVAC, EMS Switches, Electronic System Switches, Others Switches
By Geography: The regions covered in the Automotive Switch market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the automotive switch market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive switch market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Automotive Switch Industry Players
ZF Friedrichshafen AG, Johnson Electric Holdings Limited, Leopold Kostal GmbH & Co. Kg, Marquardt GmbH, Preh GmbH, Valeo, Robert Bosch GmbH, Littelfuse Inc., INENSY, Tokai Rika Co Ltd., Toyodenso Co. Ltd., Alps Alpine Co. Ltd., Continental AG, Hella KGaA Hueck & Co., Omron Corporation, Panasonic Corporation, Minda Corporation Limited, Sumitomo Corporation, Lear Corporation, Aptiv PLC, Yazaki Corporation, Leoni AG, Furukawa Electric Co. Ltd., Fujikura Ltd., Coroplast Fritz Müller GmbH & Co., Jiangsu Kyungshin Electronic Co. Ltd., Nexans S.A., THB Group Inc., Hitachi Automotive Systems Americas Inc.
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Automotive Switch Market Overview
The automotive switch are used to establish or disconnect electrical connections between the power source and the on-board power supply. Automotive switches are used in vehicles for a large number of switching tasks, in various designs and uses for safety and comfort.
Automotive Switch Global Market Report 2023 provides data on the global automotive switch market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive switch market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.