Mar 24, 2020 (AmericaNewsHour) -- The automotive switch market is poised for stellar growth on the back of burgeoning production and sales of new, technologically advanced vehicles in the coming years. Automakers are adopting automotive switches to support new integrated functionalities in their vehicle makes. These switches are used to support vehicular features like telematics, Bluetooth, driver assistance technologies, and infotainment systems.
Vehicle manufacturers are also leveraging IoT technology to develop cutting edge automotive features like connected Cars and Vehicle-to-Anything (V2X) communications, driving the demand for automotive switches. Burgeoning sales of LCVs and HCVs, which require a multitude of automotive switches, could stimulate the growth trajectory of global automotive switch market.
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The two-wheelers segment in automotive switch market will witness a growth rate of over 3% CAGR from 2020 to 2026 due to the increasing uptake of automotive switches in two-wheelers for easy accessibility. The vulnerability of two-wheelers to environmental conditions such as rain and dust has pressurized enterprises in developing rugged and waterproof automotive switches, which offer short-circuit prevention and reduce any heat build-up. With the increasing demand for electric scooters and premium electric bikes, the two-wheelers segment is expected to witness a steady growth over the forecast timespan.
The Engine Management System (EMS) switches segment held over 15% of the market in 2019 and is set to exhibit a growth of around 4% CAGR over the forecast period. This is attributed to the extensive uptake of switches for controlling several vehicle functionalities, such as door light, parking sensors, brake light, coolant temperature gauge, reversing light, radiator fan, and oil pressure gauge. EMS switches can withstand high temperatures and offer extremely accurate sensitivity, causing a rapid deployment of these switches in electric & hybrid vehicles.
APAC is expected to offer lucrative growth opportunities to the automotive switch market owing to the increasing demand for advanced vehicles in the region. Notably, nations such as India, China, and Japan are increasingly adopting vehicles with enhanced features such as driver-assistance, safety, and infotainment systems.
Countries in APAC are also witnessing a burgeoning popularity for electric vehicles. These vehicles basically require a large number of automotive switches to support multiple electronic systems. Meanwhile, industry participants in the region are focusing on boosting product export to automobile OEMs primarily to gain a competitive edge over other firms in the automotive switch business.
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Considering the automotive switch market's completive landscape, companies like COBO S.p.A., Continental AG, C&K Components, Alps Electric, Inc, GSK InTek Co., Ltd., Delphi Technologies, Hella KGaA Hueck & Co., Marquardt GmbH, Leopold Kostal, Omron Corporation, Standard Motor Products, Panasonic Corporation, Tokai Rika Co., Ltd., Robert Bosch GmbH, Valeo, Vimercati SpA, Toyodenso, Preh GmbH, and ZF Friedrichshafen AG are currently focusing on developing new and advanced automotive switches.
Some Points From Table Of Content: –
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 Market estimates and forecast, 2015-2026
5.7 Others
5.7.1 Market estimates and forecast, 2015-2026
Chapter 6 Automotive Switch Market, By Application
6.1 Key trends, by application
6.2 EMS switches
6.2.1 Market estimates and forecast, 2015-2026
6.3 HVAC
6.3.1 Market estimates and forecast, 2015-2026
6.4 Indicator system switches
6.4.1 Market estimates and forecast, 2015-2026
6.5 Electronic system switches
6.5.1 Market estimates and forecast, 2015-2026
6.6 Others
6.6.1 Market estimates and forecast, 2015-2026
Browse complete Table of Contents (ToC) of Automotive Switch Market Research Report @ https://www.gminsights.com/toc/detail/automotive-switch-market
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The post Automotive Switch Market Trends Analysis 2020 to 2026 by Product, Vehicle Type, Application, Region appeared first on America News Hour.
COMTEX_363764778/2606/2020-03-24T06:50:14
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