Selbyville, Delaware, Feb. 10, 2020 (GLOBE NEWSWIRE) --

According to latest report “Automotive Switch Market by Vehicle Type (PCV, LCV, HCV, Two Wheelers), Product (Push Button, Rocker Switches, Rotary Switches, Toggle Switches, Multi-Function Switches), Application (Indicator System Switches, HVAC, EMS Switches, Electronic System Switches), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of automotive switches will reach $16 billion by 2026.

The automotive switch market growth is attributed to growing adoption of automotive switches to support several integrated functionalities in modern vehicles. The proliferation in the demand for HCVs and LCVs, which deploy a multitude of automotive switches to offer enhanced functionalities, will create a positive impact on the overall market demand. Automotive switches enable OEMs to implement several features such as Bluetooth, telematics, infotainment systems, and driver assistance technologies into their vehicles.

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The two-wheelers segment will witness a growth rate of over 3% from 2020 to 2026 driven by increasing uptake of automotive switches in two-wheelers for easy accessibility. The vulnerability of two-wheelers to environmental conditions such as rain and dust has pressurized enterprises in developing rugged and waterproof automotive switches, which offer short-circuit prevention and reduce any heat build-up. With the increasing demand for electric scooters and premium electric bikes, the two-wheelers segment is expected to witness a steady growth during the forecast timespan.

The Engine Management System (EMS) switches segment held over 15% automotive switch market share in 2019 and is set to exhibit around 4% CAGR till 2026. This is attributed to extensive uptake of switches for controlling several vehicle functionalities, such as door light, parking sensors, brake light, coolant temperature gauge, reversing light, radiator fan, and oil pressure gauge. EMS switches can withstand high temperatures and offer extremely accurate sensitivity, causing a rapid deployment of these switches in electric & hybrid vehicles.

APAC automotive switch market is poised to register 4% growth during the forecast period due to growing demand for advanced vehicle technologies in the region. Countries including India, Japan, and China are witnessing a widescale adoption of ADAS, infotainment system, and other safety systems. Another factor driving the market growth in the region is the increasing popularity of electric vehicles. These vehicles make heavy use of automotive switches owing to addition of multiple electronic systems. Automotive switch manufacturers are focusing on gaining a competitive edge by strengthening their export activities to automobile OEMs.

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Some major findings of the automotive switch market report include:

  • The increasing adoption of IoT in the automotive sector, such as connected cars and Vehicle-to-Anything (V2X) communications, will drive the demand for automotive switches to regulate the functioning of these on-board systems.
  • Enterprises are investing heftily for the development of advanced automotive switches including haptic and tactile feedback technologies.
  • With the rising adoption of electric vehicles across the globe, the addition of new electronic components will augment the demand for automotive switches.
  • Technological advancements in vehicle fleet management systems such as onboard remote assistance, vehicle tracking, and telematics will proliferate the growth of the LCV segment.
  • Rocker switches can handle large current capacities and are increasingly being deployed for operating multiple circuits through a single control switch such as power door locks, window defoggers, and heated seats.
  • Some of the key players operating in the automotive switch market include Alps Electric, C&K Components, Inc, COBO S.p.A., Continental AG, Delphi Technologies, GSK InTek Co., Ltd., Hella KGaA Hueck & Co., Leopold Kostal, Marquardt GmbH, Omron Corporation, Panasonic Corporation, Preh GmbH, Robert Bosch GmbH, Standard Motor Products, Tokai Rika Co., Ltd., Toyodenso, Valeo, Vimercati SpA, and ZF Friedrichshafen AG.
  • Automotive switch providers are focusing on developing innovative products and improving their existing product portfolio to gain a competitive edge.

Table of Contents (ToC) of the report:

Chapter 3   Automotive Switch Market Insights

3.1   Industry Segmentation

3.2   Industry landscape, 2015-2026

3.2.1   Global automotive industry landscape, 2015-2026

3.2.2   Global automotive production statistics, 2015-2018

3.3   Industry ecosystem analysis

3.3.1   Research & development

3.3.2   Component supplier

3.3.3   Manufacturers

3.3.4   Distribution channel analysis

3.3.5   Vendor matrix

3.4   Technology & innovation landscape

3.4.1   Haptic sensor technology   Touch screen switch panel

3.5   Regulatory Landscape

3.5.1   International Standards   ISO 7588-2:1998   ISO 9001   IEC 60068   ISO/TS 16949   ISO 26262

3.5.2   North America   CSA Mark   SAE J 1211-2012 (SAE J1211-2012)   SAE AS 5553C-2019   NAFTA

3.5.3   Europe   Directive 2007/46/EC   CE Marking   Motor Vehicle Framework Directive 2007/46/EC   Directive 2012/19/EU   IATF 16949

3.5.4   Asia Pacific   CCC mark   QC/T 198-2014   Australian design rules

3.5.5   Latin America   Route 2030

3.5.6   MEA   UAE Vehicle Control System Standard

3.6   Industry impact forces

3.6.1   Growth drivers

3.6.2   Industry Pitfalls

3.7   Growth potential analysis

3.8   Porter’s Analysis

3.9   Competitive landscape

3.9.1   Company market share analysis

3.9.2   Other players

3.9.3   Strategy dashboard

3.10   PESTLE Analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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