USD 17.73 billion
Automotive Switch Market Size, Share, Growth Analysis, By Design(Rocker Switches, Rotary Switches, Toggle Switches, Push Switches and Other Switches), By Vehicle Type(Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), By Sales Channel(Original Equipment Manufacturers and Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2240 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|Tables:
88
|Figures:
69
Automotive Switch Market Insights
Global Automotive Switch Market size was valued at USD 17.73 billion in 2022, USD 18.73 billion in 2023 and is projected to grow USD 30.01 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
Over the past few years, there has been a significant global revolution in the automotive business. The automobile manufacturers are always focusing on creating new design experiences through the effective integration of new technologies and processes, driven by the increasing demand for passenger safety and comfort. Numerous factors, including growing customer desire for high-tech features in cars, increased convenience and safety, and technological advancements in the automotive industry, are driving the market for automotive switches. As cars get more sophisticated and intelligent, there is an increasing need for sophisticated switches that can do multiple tasks at once. The demand for automotive switches is expected to increase significantly throughout the projected period due to the abrupt shift from the use of mechanical parts to electronic parts.
One of a car's fundamental parts, automobile switches are essential for controlling the lighting and almost every other aspect of operation. Along with many other automotive tasks, they are also utilized for engine start and stop applications. The market is particularly impacted by the growing production of electric and hybrid cars, which require different switches than regular gasoline-powered cars. Government regulations pertaining to pollution and vehicle safety are another factor driving up the adoption of advanced switches and other technology in automobiles. Over the course of the forecast period, growing demand for installing automobile accessories and ongoing technological advancements are anticipated to fuel the expansion of the automotive switches market.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Passenger cars
Fastest Growth
Light commercial vehicles
Growth Rate
6.8% CAGR
Global Automotive Switch Market ($ Bn)
Country Share for North America (%)
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Automotive Switch Market Segmental Analysis
The Global Automotive Switch Market is segmented based on design, vehicle type, sales channel and regional type. In terms of design, the market is segmented into rocker switches, rotary switches, toggle switches, push switches and other switches. Based on vehicle type, the market is trifurcated into passenger cars, light commercial vehicles and heavy commercial vehicles. In terms of sales channel, the market is divided into original equipment manufacturers and aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The passenger cars outlook forecast has improved the global market CAGR in recent years.
Analysis by Vehicle Type
As per categorization by vehicle type, the market is classified into passenger cars, light commercial vehicles and heavy commercial vehicles. Among these, passenger cars earned the largest share and continue to dominate the market. Significant innovation is occurring in passenger cars, mostly as a result of the growing use of electronic systems. With features like touch controls and haptic feedback, manufacturers are concentrating on creating more multipurpose, ergonomic switches that improve user interface and communication. The general trend of car electrification and autonomous driving technology is supported by this move towards sophisticated, compact designs. Furthermore, there is a growing need for robust, low-power switches, which is in line with the drive for improved vehicle efficiency and safety regulations.
The growing need for automation and sophisticated vehicle management systems is expected to propel the expansion of the Global Automotive Switch Market in both the light and heavy commercial vehicle segments. Specialized switches are becoming more and more necessary as these vehicles integrate electronic logging devices (ELDs), modern telematics, and fleet management solutions to improve operational efficiency and adhere to regulatory norms. In addition, the growing popularity of electric and hybrid commercial vehicles requires more sophisticated switchgear for battery management and power distribution, which propels market growth in these categories.
Analysis by Sales Channel
The ability of Original Equipment Manufacturers (OEMs) to innovate and incorporate cutting-edge technologies into newly designed vehicles has led to their dominance in the Global Automotive Switch Market. Manufacturers play a critical role in integrating advanced, multipurpose switch designs, such touch-sensitive panels and gesture-controlled switches, that are specially made for new model requirements and enhance the ergonomics and aesthetics of vehicles. Strong brand loyalty and the capacity to directly affect consumer preferences through manufacturing processes and vehicle design serve to bolster this supremacy.
Because DIY repairs and customizations are becoming more and more popular, as well as the fact that vehicles are getting older, the aftermarket section of the Global Automotive Switch Market is expected to increase substantially. Owners of vehicles that have outlived their warranties are looking for affordable replacement parts, such as lighting, HVAC, and other necessary switches. Furthermore, the tendency towards upgrading and personalizing vehicles calls for better, more inventive switches that improve usability and functionality. The ease of internet access to a large selection of aftermarket products that meet a variety of consumer needs contributes to the increase.
Global Automotive Switch Market By Vehicle Type (%)
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Automotive Switch Market Regional Insights
Europe is a developed market for automotive switches, and there is a lot of interest in cutting-edge innovations and safety features. The area boasts a thriving automotive sector that prioritizes energy efficiency and sustainability. The growing popularity of electric cars and technology for autonomous driving is anticipated to propel the expansion of the automotive switches market in Europe. Automotive switches are in high demand in North America due to the rising number of passenger and commercial cars on the road. The automobile sector in the region is highly developed, emphasizing cutting-edge developments and technologies. The North American automotive switches market is anticipated to grow at a rapid pace because to the growing popularity of electric and hybrid automobiles.
Due to the fast expansion of the automotive sector in the region, Asia-Pacific is the largest market for automotive switches. The Asia-Pacific automotive switches market is anticipated to increase as a result of rising adoption of enhanced safety features and technologies as well as rising demand for passenger and commercial cars. The region's rising need for passenger and commercial cars is fueling the growth of the automotive switch industry in Latin America. The two main countries in Latin America driving the growth of the automotive switches market are Brazil and Mexico. The rising demand for passenger and commercial vehicles in the Middle East and Africa has resulted in a developing market for automotive switches.
Global Automotive Switch Market By Geography
- Largest
- Fastest
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Automotive Switch Market Dynamics
Drivers
Commercial Vehicles Growing Sales
- The market for automotive switches is expanding due to the rising need for commercial vehicles like trucks and buses. For multiple purposes, including lights, wipers, and other electronic systems, these cars need a lot of switches. The need for automotive switches is rising along with the demand for commercial vehicles.
Software Defined Vehicles
- The market for automotive switches is also significantly influenced by the widespread use of software-defined cars. Many switches are needed for the control and operation of the many electronic systems, sensors, and other cutting-edge technologies found in modern cars. Vehicle functions are managed by sophisticated software and computer systems in software-defined cars, which makes switches even more essential to the vehicle's correct operation.
Restraints
Fluctuating Prices of Manufacturing Switches
- One of the main factors limiting the automotive switches industry is the erratic prices of raw materials like copper, aluminium, and polymers. These resources, which are dependent on availability and market conditions, are necessary for the manufacturing of switches. The unpredictable nature of these markets may result in unpredictable raw material costs, which may have a big effect on producers' profitability.
Integration Of Haptics and Voice Control
- Another barrier to the growth of the automotive switches market is the growing use of voice control and haptics technology. With the help of touch and voice commands, drivers can now manage a variety of tasks without the need for conventional switches and buttons thanks to these technologies. Although these technologies provide an interface that is more intuitive and user-friendly, they also provide a challenge to the manufacturers of traditional switches.
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Automotive Switch Market Competitive Landscape
The increasing use of voice control and haptics technologies is another obstacle impeding the growth of the automotive switches industry. Thanks to these technologies, drivers may now do a range of functions without the use of traditional switches and buttons by using voice and touch commands. These technologies offer a more intuitive and user-friendly interface, but they also pose a threat to the makers of conventional switches. Numerous companies, including Tokai Rika Co., Ltd, Autoliv Inc., Continental AG, Alps Electric Co., Panasonic Corporation, Hella KGaA Hueck & Co., Johnson Electric Holdings Limited, Valeo, etc., are present in the automotive switch market.
Top Player’s Company Profiles
- Hella KGaA Hueck & Co. (Germany)
- Johnson Electric Holdings Limited (Hong Kong)
- Robert Bosch GmbH (Germany)
- TE Connectivity (Switzerland)
- Industrial Engineering Syndicate (INENSY) (India)
- ZF Friedrichshafen AG (Germany)
- Leopold Kostal GmbH & Co. Kg (Germany)
- Alps Alpine Co., Ltd. (Japan)
- Continental AG (Germany)
- Omron Corporation (Japan)
- Eaton Corporation PLC (Ireland)
- Tokai Rika Co., Ltd. (Japan)
- Honeywell International Inc. (United States)
Recent Developments
- In April 2021, A joint venture between Mersen and Autoliv, Inc. was established to supply electric car safety-enhancing technologies. Through this agreement, affordable devices that can quickly cut off up to 1000-volt power sources before dangerous arcing occurs will be produced. The devices will integrate fuse hybridization concepts from Mersen with Autoliv's Pyroswitch ("Pyroswitch") technology.
- In August 2021, TOKAI RIKA Co., Ltd. announced the development of a fingerprint-authentication start switch to increase the efficacy of vehicle anti-theft measures. This switch is unique to Japanese cars and was included in the August 2021 launch of the new Toyota Land Cruiser.
- In March 2024, The new series of highly responsive smart switches from Eaton Corporation PLC is intended to improve the user interface and connection of electric and hybrid cars. They include IoT integration, which allows for real-time system monitoring of the car and flexibility to accommodate various driving situations and preferences. This invention highlights how the market is moving towards integrating increasingly sophisticated technical components in response to the growing demand for data-driven functions and vehicle automation.
Automotive Switch Key Market Trends
- Electronics Integration In New Generation Vehicles: One significant trend in the automotive industry is the growing use of electronics in automobiles. The need for electronic systems and parts, like infotainment systems, advanced driving assistance systems (ADAS), and sensors, is rising as cars get more complex and smarter. To operate and regulate these electronic devices, a lot of switches are needed.
- Revolutionizing Vehicle Control: Advanced switch technologies like capacitive touch switches and haptic feedback switches are being developed as a result of the integration of electronics and mechanical systems in automobiles. These sophisticated switches are becoming more and more common in contemporary cars because they provide better performance, longevity, and dependability.
Automotive Switch Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the market for automotive switches is expanding due to the rising demand for commercial vehicles and the vital role switches play in the operation and management of cutting-edge technology found in software-defined cars. The automotive switches market is facing significant challenges due to fluctuating raw material prices and the integration of voice control and haptics technology. These problems are hurting demand for traditional switches and manufacturing costs. Though they provide a more user-friendly interface, voice control and haptics technologies—which enable drivers to control a variety of functions by voice and touch commands—are becoming more and more popular, which presents a challenge to traditional automotive switch manufacturers. Advanced switch technologies like capacitive touch and haptic feedback switches are being developed as a result of the integration of electronics into newer vehicles. These switches are becoming more and more frequent in contemporary cars because of their improved performance, dependability, and longevity.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.73 billion |
| Market size value in 2031 | USD 30.01 billion |
| Growth Rate | 6.8% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Switch Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Switch Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Switch Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Switch Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Switch Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Switch Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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