Automotive Switch Market Outlook By Opportunity and Demand Analysis, Forecast 2026
Asia Pacific automotive switch market is expected to showcase notable CAGR of 4% through 2026. Developments in the automobile sector owing to product innovations will support the industry dynamics. With an aim to enhance passenger-vehicle safety, countries like China, India and Japan are recording increased use of ADAS and other safety systems. Additionally, there increasing adoption of electric vehicles in the region owing to stringent regulations by the government to reduce carbon emission levels and adequate awareness among the people.
Growing emphasis on vehicle safety along with the need to support integrated functions in modern vehicle systems will bolster global automotive switch market forecast. Rise in disposable income among people in both developed and emerging nations is propelling the demand for HCVs and LCVs which boast a variety of automotive switches to facilitate improved functions. The product carries various mechanical applications like toggle, rocker, rotary pushbuttons, multifunction and others.
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Automotive switches allow OEMs to provide additional vehicular features such as telematics, infotainment system, driver assistant technology and telematics and several other elements. Global automotive switch market share is estimated to exceed USD 16 billion in value by 2026. Suppliers outlining the competitive dynamics of the industry include COBO S.p.A, Delphi Technologies, Alps Electric, Leopold Kostal, C&K Components and Omron Corporation, among various others.
Automotive switches find application in LCV, PCV, two-wheelers and HCV vehicles. Increasing purchase of two-wheelers especially in developing nations is driven by benefits like low cost of maintenance and operation along with easier commute options. Two-wheelers are highly vulnerable to extreme weather conditions like dust and rain, propelling the market players to develop sturdy and waterproof switches that render protection from short-circuits and restrict heat build-up.
Increasing environmental degradation has led to the demand for environmentally friendly vehicle solutions. Similar efforts are carried out in the two-wheeler industry leading to the introduction of electric bikes. Two-wheeler automotive switch market size is expected to register a growth rate of more than 3% CAGR over 2020 to 2026 owing to the escalating demand for electric scooters and premium electric bikes.
EMS switches carry the ability to resist extreme temperatures and provide accurate sensitivity. In the year 2019, engine management system switches accounted for more than 15% of the total automotive switches consumption. The global share will witness robust growth in the coming years due to innovations in automobiles as well as the need for innovative engine systems and in-vehicle features
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Partial Chapter of the Table of Content
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 Market estimates and forecast, 2015-2026
5.6 Multi-function switches
5.6.1 Market estimates and forecast, 2015-2026
5.7 Others
5.7.1 Market estimates and forecast, 2015-2026
Chapter 6 Automotive Switch Market, By Application
6.1 Key trends, by application
6.2 EMS switches
6.2.1 Market estimates and forecast, 2015-2026
6.3 HVAC
6.3.1 Market estimates and forecast, 2015-2026
6.4 Indicator system switches
6.4.1 Automotive switch market estimates and forecast, 2015-2026
6.5 Electronic system switches
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