Automotive Switches for Passenger Cars Likely to Record Peak Sales, Increasing 1.4 Times Over the Forecast Period
UNITED STATES, Jan. 11, 2022 /EINPresswire.com/ – A recently released report by Fact.MR reveals that the global automotive switches market demand is expected to grow at a CAGR of 8.7% during the forecast period ( 2021-2031), exceeding US $ 36 billion at the end of the said assessment period. By 2021, the market is expected to be valued at US $ 15.5 billion, with increasing applications in passenger vehicles and two-wheelers.
From 2016 to 2020, the industry experienced a 7% CAGR. During the COVID-19 pandemic, the outlook has declined dramatically, due to a global contraction in automotive manufacturing operations. Some of its effects have spilled over into the current budget, with countries like India experiencing a 3% drop in auto component revenues. However, this should be compensated, as new vehicle registrations and the takeover of manufacturing facilities continue.
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Key points of the market research
Interior control switches are expected to cross the US $ 21 billion mark by 2031, contributing to a CAGR value of 4.2%.
Collectively, access management and powertrain switches are expected to account for 1/3 of the revenue share
Automotive switches for passenger cars to exceed US $ 19 billion by 2031
Light commercial vehicles are expected to grow about 4.7 times more than heavy commercial vehicles.
Europe will register a value of 7 billion dollars by 2031, representing 1/4 of the global turnover
Asia will be one of the fastest growing markets, with a CAGR of 4.6%
The main players involved in the market invest rigorously in the development and launch of new products to gain a competitive advantage and expand their consumer base.
In August 2021, TOKAI RIKA Co., Ltd. announced the development of a fingerprint authentication start switch to help improve vehicle anti-theft performance. A first for Japanese cars, this switch will be used by the new Toyota Land Cruiser which launched in August 2021
In April 2021, Autoliv, Inc. and Mersen announced a joint collaboration to develop devices that will help make electric vehicles safer. The collaboration will produce disconnect devices that use Autoliv’s proven pyrotechnic safety switch (“Pyroswitch”) technology and Mersen’s fuse hybridization concepts, to create affordable devices capable of disconnecting a power source. power up to 1000 volts in milliseconds, before a dangerous electric arc occurs.
Key Points Covered in Automotive Switch Industry Survey
Market Estimates & Forecasts (2016-2031)
Key Drivers and Constraints Shaping Market Growth
Analysis by segment, country and region
Mapping and benchmarking of the competition
Brand Share and Market Share Analysis
Key product innovations and regulatory climate
Assessment by product category / purity / formulation standards
Assessment of import price, wholesale price, contract price, producer / distributor price
Certifications and compliance requirements
Impact of COVID-19 on Automotive Switches and How to Navigate
Recommendation on key winning strategies
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Key segments covered
Automotive switches for passenger cars
Automotive switches for light commercial vehicles
Automotive switches for heavy duty vehicles
Automotive switches for electric vehicles
Automotive switches for tractors
Automotive switches for forklifts
Automotive switches for two-wheelers
Automotive interior control switches
AC Switch Assembly
Light module / switches
Overhead console switch
Multimedia switch assembly
Direction switch assembly
Seat control switches
Seat heating switches
Automotive Access Management Switches
Power Window Switch Assembly
Side window switches
Door light switches
Powerlift door switches
Rear support switches
Automotive powertrains and other switches
Reversing light switches
Brake light switches
Automatic speed control switches
Automatic reverse parking brake switches
Fork lift switch module
Sales of automotive switches through OEMs
Aftermarket sales of automotive switches
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Benefits of the report and answers to key questions
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Historical Automotive Relay Volume Analysis: The report offers a benchmarking between historical Automotive Relay sales and projected sales performance for 2021-2031
Automotive Relay Category and Segment Analysis: Fact MR presents a comprehensive analysis of factors driving sales growth in key segments. It highlights the main growth drivers and offers valuable information to identify sales prospects at local and regional level.
Automotive Relay Consumption by Demographics: To provide an informed recommendation, the report studies consumer behavior and consumption habits. Demographic analysis aims to help companies better understand consumer preferences and design their product and market strategies based on them.
Post-COVID Consumer Spending on Automotive Relay: The Fact MR market research carefully studies consumer spending behavior after COVID-19. It assesses how dominant trends have influenced their behavior, subsequently impacting their purchasing power.
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