In 2021, the global automotive switch market will reach US$26.05 billion. It will reach $36.56 billion by 2027, with a compound annual growth rate of 5.40% during 2022-2027.
SHERIDAN, Wyoming, USA, Nov. 22, 2022 /EINPresswire.com/ — IMARC Group recently released a report titled “Automotive Switch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” New research report. which provides detailed analysis of market drivers, segmentation, growth opportunities, trends and competitive landscape to understand current and future market scenarios.
In 2021, the global automotive switch market is valued at US$26.05 billion. Looking ahead, IMARC Group expects the market to be worth $36.56 billion by 2027, with a growth rate (CAGR) of 5.40% during 2022-2027.
Automotive switches are one of the main components that regulate the electrical system installed in a vehicle. It provides reliable control of a vehicle’s ignition circuit and is considered ideal for on- and off-highway, marine and test equipment. Some of the types of automotive metal switches commonly found on the market include ignition switches, power switch windows, overhead console switches, steering wheel switches, door switches, emergency stop button, and more. Therefore, they are widely used to ensure safety and prevent battery drain during a period of time when the vehicle is idle.
We regularly monitor the direct impact of COVID-19 on the market, as well as the indirect impact of related industries. These comments will be included in the report.
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The growing demand for heavy and light passenger vehicles is primarily driving the automotive switch market. Moreover, the widespread adoption of various automotive electronics such as heating, ventilation and air conditioning (HVAC) systems and infotainment systems is further driving the growth of the market. In addition, the growing demand for vehicle comfort and safety, as well as numerous advances in the field of agricultural tractors, are significant growth factors.
In addition, the expansion of the automotive industry and the increasing use of combination or multi-function switches that can perform multiple functions, including lighting, windshield wipers, cruise control, and others, are also positively affecting the global market. Apart from this, the introduction of luxury vehicle models and the increasing investments in R&D activities aimed at developing enhanced product variants for better control and stability features are anticipated to fuel the automotive switch market over the forecasted period. Apart from this, the introduction of luxury vehicle models and the increasing investments in R&D activities aimed at developing enhanced product variants for better control and stability features are anticipated to fuel the automotive switch market over the forecasted period. In addition, the release of luxury car models and growing investment in research and development to develop improved product options for better control and stability are expected to drive the automotive switch market during the forecast period. In addition, the release of luxury models and increased investment in research and development to develop improved product options for better control and stability are expected to drive the automotive switch market during the forecast period.
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Breakdown by Type: • Ignition Switches • HVAC Switches • Steering Wheel Switches • Power Window Switches • Overhead Console Switches • Seat Control Switches • Door Switches • Alarm Switches • Multifunction Switches • Other
Breakdown by Design: • Rocker Switches • Rotary Switches • Toggle Switches • Pushbutton Switches • Others
• North America: (USA, Canada) • Asia Pacific: (China, Japan, India, Korea, Australia, Indonesia, etc.) • Europe: (Germany, France, UK, Italy, Spain, Russia, etc.) • Latin America: (Brazil, Mexico, etc.) • Middle East and Africa
List of major players: • Alps Alpine Co. Ltd. • C&K • Eaton Corporation PLC • HELLA GmbH & Co. • C&K • Eaton Corporation PLC • HELLA GmbH & Co. KGaA (Faurecia SE) • INENSY • Johnson Electric Holdings Limited • Marquardt Group • Omron Corporation • Panasonic Holdings Corporation • Preh GmbH • TokaiRika Co. Ltd • Valeo • ZF Friedrichshafen AG (Zeppelin-Stiftung).
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