Automotive Switch Market Opportunities and Forecast To 2026
APAC automotive switch market is set to register a CAGR of 4% over 2020-2026 due to increasing inclination towards advanced vehicle technologies in the region. Widescale adoption of infotainment system and safety systems, such as ADAS in countries such as Japan, China, and India is poised to accelerate product deployment. Additionally, increasing popularity of electric vehicles in the region is also creating lucrative opportunities for industry growth.
Integration of automotive switches to incorporate several functionalities in modern automobiles will positively impact industry growth. Automotive switches are typically used for the implementation of several features, such as telematics, Bluetooth, driver assistance technology and infotainment systems into vehicles.
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Automotive switch market is likely to gain remarkable traction owing to rapid proliferation of IoT in the automotive industry. In addition, adoption of advanced technologies such as Vehicle-to-Anything communications and connected cars is further driving automotive switch industry demand.
Increasing inclination towards electric vehicles may also support business scenario. The drive train electrification in electric vehicle requires a broad range of switches, sensors, microcontrollers, and other power electronics. Moreover, mounting demand for LCVs and HVCs that utilize a multitude of automotive switches to offer enhanced functionalities, will fuel product penetration over the coming years. Automotive switch market is forecast to cross the USD 16 billion mark by 2026.
Surging popularity of electric two-wheelers is also a key factor supporting market growth. OEMs are developing rugged and waterproof automotive switches to safeguard electric scooters and premium electric bikes from environmental conditions such as rain and dust and short-circuit, excess heat build-up, which they are invariably subject to. Electrification of two-wheelers supported by increasing consumer inclination towards electric vehicles will favor business expansion. The two-wheelers segment will grow at a CAGR of 3% over 2020 to 2026.
Consumers are increasingly aligning towards sophisticated, sporting, advanced safety, and comfort features. For instance, vehicles integrated with push-button switches offer multiple safety & comfort features. These switches are being extensively utilized in ignition systems, volume control functions, channel control, radio control, and vehicle mode control. Increasing consumer spending on premium vehicles will supplement automotive switch market share over the forthcoming years.
Vehicle manufacturers across APAC region are investing heavily on the development of advanced automotive switches, including tactile and haptic feedback technologies
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Partial Chapter of the Table of Content
Chapter 4 Automotive Switch Market, By Vehicle
4.1 Key trends, by vehicle type
4.2 PCV
4.2.1 Market estimates and forecast, 2015-2026
4.2.2 Market estimates and forecast, by product 2015 – 2026
4.3 LCV
4.3.1 Market estimates and forecast, 2015-2026
4.3.2 Market estimates and forecast, by product 2015 – 2026
4.4 HCV
4.4.1 Market estimates and forecast, 2015-2026
4.4.2 Market estimates and forecast, by product 2015 – 2026
4.4.3 Market estimates and forecast, by end-use 2015 – 2026
4.5 Two wheelers
4.5.1 Market estimates and forecast, 2015-2026
4.5.2 Market estimates and forecast, by product 2015 – 2026
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 Automotive Switch Market estimates and forecast, 2015-2026
5.6 Multi-function switches
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