An automotive switch is a type of electromechanical device that is utilized for controlling and running an electrical circuit. Such switches are basically used in vehicles for different applications including infotainment system, HVAC system, and electronic component systems. Rapid rise in the production, sales, and penetration of passenger and commercial vehicles throughout the world is a driving factor for the growth of the automotive switches market.
"Global Automotive Switches Market Analysis to 2028"
is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive switches market with detailed market segmentation by switch type, vehicle type, application, and geography. The report provides key statistics on the market status of the leading automotive switches market players and offers key trends and opportunities in the market.
- Based on switch type, the global automotive switches market is segmented into touchpad, button, knob, lever and others.
- On the basis of vehicle type, the market is segmented into light commercial vehicle, heavy commercial vehicle and passenger cars.
- Based on application, the market is bifurcated into electronic system switches, HVAC system switches, EMS switches, and hybrid electric vehicle.
- Increasing demand for passenger vehicles in many developing countries of Asia Pacific region.
- Rising urbanization and increasing per capita disposable income to boost the market growth of automotive switches.
- Rapidly advancing technology to further drive the demand for various types of automotive switches.
- Volatile prices of raw material required to manufacture automotive switches may act as a restraining factor
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive switches market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive switches market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE SWITCHES MARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic restricted the movement of people from one place to another, thus reducing the demand for vehicles all over the world. Also, due to job loss or pay cuts, buying capacity of the customer was hampered to considerable extent. This all has impacted the automotive switches market negatively.
The report covers key developments in the automotive switches market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive switches market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive switches in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive switches market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ALPS ALPINE CO., LTD.
- C and K COMPONENTS LLC
- Continental AG
- HELLA GmbH and Co. KGaA
- Omron Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- TOKAIRIKA,CO, LTD.
- ZF Friedrichshafen AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.