Automotive Switches For Passenger Cars Are Likely To Register Maximum Sales, Expanding 1.4x Across The Forecast Period

UNITED STATES, January 11, 2022 /EINPresswire.com/ -- A recently published report by Fact.MR reveals that the demand of global automotive switches market is projected to grow at a CAGR of 8.7% during the forecast period (2021-2031), surpassing US$ 36 Bn by the end of the said assessment period. By 2021, the market is expected to be valued at US$ 15.5 Bn, with applications across passenger vehicles and two-wheelers increasing.

From 2016 to 2020, the industry experienced a CAGR of 7%. During the COVID-19 pandemic, prospects declined significantly, attributed to a global contraction in automotive manufacturing operations. Some of its effects have spilt over to the present fiscal, with countries such as India experiencing a 3% decline in auto component revenues. However, this is expected to be offset, as new vehicle registrations and resumption of manufacturing facilities continue to take place.

To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=1911

Key Takeaways from the Market Study
Interior control switches are foreseen to cross the US$ 21 Bn mark by 2031, contributing a value CAGR of 4.2%.
Collectively, access management and powertrain switches estimated to account for 1/3rd revenue share
Automotive switches for passenger cars to surpass US$ 19 Bn in value by 2031
Light commercial vehicles foreseen to grow ~4.7x more than heavy commercial vehicles.
Europe to register a value of US$ 7 Bn by 2031, capturing 1/4th of global revenues
Asia to be one of the fastest growing markets, clocking a 4.6% value CAGR

Competitive Landscape
Key players involved in the market are rigorously investing in the development and launches 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 boost vehicle anti-theft performance. A first for Japanese cars, this switch will be used by the new Toyota Land Cruiser that was 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 utilize Autoliv’s proven pyrotechnical safety switch (“Pyroswitch”) technology and Mersen’s fuse hybridization concepts, to create affordable devices that can disconnect up to 1000-volt power source in milliseconds, before dangerous arcing can occur.

Key Points Covered in Automotive Switches Industry Survey
Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand Share and Market Share Analysis
Key Product Innovations and Regulatory Climate
Assessment by Product Grade / Purity / Formulation Standards
Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
Certifications and Compliance Requirements
COVID-19 Impact on Automotive Switches and How to Navigate
Recommendation on Key Winning Strategies

Need more information about Report Methodology? Click here- https://www.factmr.com/connectus/sample?flag=S&rep_id=1911

Key Segments Covered
Vehicle
Automotive Switches for Passenger Cars
Compact
Mid-size
Luxury
SUV

Automotive Switches for Light Commercial vehicles
Automotive Switches for Heavy Commercial Vehicles
Automotive Switches for Electric Vehicles
Automotive Switches for Tractors
Automotive Switches for Forklifts
Automotive Switches for Two Wheelers
Conventional
Electric

Switch
Automotive Interior Control Switches
AC Switch Assembly
Light Module/Switches
Multifunctional Switches
Overhead Console Switch
Multimedia Switch assembly
Steering Switch Assembly
Seat Control Switches
Seat Heater Switches

Automotive Access Management Switches
Power Window Switch Assembly
Side Window Switches
Door Light Switches
Ignition Switches
Powerlift Gate Switches
Sun Roof Switches
Back Carrier Switches

Automotive Powertrains & Other Switches
Reverse Light Switches
Brake Light Switches
Automatic Gear Control Switches
Automatic Reverse Parking Brake Switches
Hand Brake Switches
Fork Lifting Switch Module

Sales Channel
Automotive Switches Sales via OEMs
Automotive Switches Sales via Aftermarket

Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/1911

Report Benefits & Key Questions Answered

Automotive Relay Company & brand share analysis: The report offers in-depth Automotive Relay brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
Automotive Relay Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Relay and projected sales performance for 2021-2031
Automotive Relay Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
Automotive Relay Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
Post COVID consumer spending on Automotive Relay: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power

Explore Fact.MR’s Comprehensive Coverage on Automotive Domain:

Ground Support Equipment Tires Market – https://www.factmr.com/report/ground-support-equipment-tires-market

Automotive Steering Rack Market – https://www.factmr.com/report/automotive-steering-rack-market

Automotive Steering Shaft Market – https://www.factmr.com/report/automotive-steering-shaft-market

Supriya Bhor
EMINENT RESEARCH & ADVISORY SERVICES
+91 9922699448
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.