The automotive switch market is projected to grow to USD 7.5 billion by 2026 from USD 6.2 billion in 2021, at a CAGR of 3.8% during the forecast period. Growing popularity of premium vehicles with advanced systems such as power windows, front & rear AC conditioning, EMS systems etc. is expected to significantly boost automotive switches market. Trends towards lightweight vehicle parts is also expected to propel automotive switches market.
Air conditioner temperature switch is the fastest growing market by application
Increase in superior cabin experience has propelled to ever-increasing the growth of the AC lines market. Today, almost all the vehicles that are manufactured are equipped with an air conditioning system. Thus, there is tough competition between automakers to provide enhanced comfort. This competition has increased pressure on OEMs to deliver technologically advanced automotive air conditioning systems. Also, the increasing popularity of premium vehicles, has driven the adoption of rear AC system. Thus, the increasing demand for rear air conditioning has also driven the growth of air conditioner temperature switch is expected to grow further in coming years.
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PC is the largest market for automotive swit ches, by vehicle type
The passenger car segment is estimated to hold the largest market share of the automotive switches market during the forecast period. The growing PC production in countries such as China, India, Brazil is driving automotive switches market. Growing Installation of systems such as infotainment display, power windows is driving market for touchpad, and buttons. Thus, considering the above mentioned factors, the PC automotive switches market is expected to get a significant boost in the forecast period.
Asia Pacific is estimated to be the largest geographical segment of the automotive switchesmarket
The Asia-Oceania region comprises of countries such as China, India, and Japan. The region is dominated by developing countries such as India and China, where the automotive industry is growing at a faster pace. Increasing number of vehicle manufacturing facilities due to low cost of production in developing countries, increasing production capacity, and growing demand for light and heavy vehicles is driving the market for automotive switches in these countries. , At the same time, the demand for luxury cars has increased considerably. The increase in demand for vehicles, especially premium passenger cars, has accentuated the need for cabin comfort and luxury and enhanced the demand for better air conditioning systems, driving automotive switches market. Thus, the market for automotive switches market in the region is expected to grow significantly in the coming years.
Key Market Players:
The automotive switches market is dominated by global players and comprises several regional players as well. The key players in the automotive switches market are Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG(Germany), Alps Alpine Co., Ltd. (Japan), Panasonic Corporation (Japan).
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