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 News

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 Market Report Snapshots

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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).

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. '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)'

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.

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.

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.

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