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Automotive Switch Market Size

  • Report ID: GMI834
  • Published Date: Feb 2020
  • Report Format: PDF

Automotive Switch Market Size

Automotive Switch Market size valued at USD 13 billion in 2019 and is expected to grow at a CAGR of over 3% from 2020 to 2026. The global unit shipments are projected to cross 1 billion units by 2026.

 

The growing market trend for Electric Vehicles (EVs) due to low fuel consumption and low pollution benefits will add an advantage for automotive switches in the vehicle manufacturing industry. The drive train electrification in EV requires a broad range of sensors, switches, microcontrollers, and other power electronics. Governments from developing nations are launching various schemes to increase the adoption of electric vehicles.

 

Automotive Switch Market

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The leading OEMs in the automotive switch market are now focusing to implement new and innovative components in their vehicles to make the vehicle system more reliable & efficient and enhance their market share. For example, in February 2017, Mercedes-Benz installed a touchpad controller in its S-Class and C-Class models, which include rotary knob and touch keys to operate the navigation and infotainment system in the vehicle. These innovation techniques adopted by vehicle manufacturers are driving the market growth in the coming years.  

 

The growing adoption of dashboard display among OEMs will increase the market for touchscreen capability. This will result in growing opportunities for new haptic technology among market leaders to deliver tactile functioning of buttons, restraining the market demand.

 

It also allows more input controls, thereby reducing the number of mechanical switches in vehicles. This has led to an increase in the adoption of touchscreen display by major car manufacturers to deliver enhanced user interface to drivers.

 

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of automotive switch was USD 13 billion in 2019.

The industry share of automotive switch is projected to witness more than 3% growth rate during 2020 to 2026.

Multi-function switch is the fastest-growing segment and is estimated to register a CAGR of 5% through 2026 due to rising demand for steering wheels.

Europe accounts for around 20% market share with anticipated gains of over 3.5% through 2026 owing to presence of several leading luxury car manufacturers such as Daimler AG, Audi, and Porsche.

According to this research report, the HCVs in the industry are expected to witness around 3.5% growth during the forecast period.

Automotive Switch Market Scope

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 19
  • Tables & Figures: 971
  • Countries covered: 19
  • Pages: 548
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