Product ID: SQMIG20D2240
Global Automotive Switch Market Size, Share, Growth Analysis, By Design(Rocker Switches, Rotary Switches), By Vehicle Type(Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), By Sales Channel(Original Equipment Manufacturers and Aftermarket) - Industry Forecast 2024-2031
Report ID:
SQMIG20D2240 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|
Tables:
88 |
Figures:
69
Global Automotive Switch Market Insights
Global Automotive Switch Market size was valued at USD 17.73 billion in 2022, USD 18.73 billion in 2023 and is projected to grow USD 30.01 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
Over the past few years, there has been a significant global revolution in the automotive business. The automobile manufacturers are always focusing on creating new design experiences through the effective integration of new technologies and processes, driven by the increasing demand for passenger safety and comfort. Numerous factors, including growing customer desire for high-tech features in cars, increased convenience and safety, and technological advancements in the automotive industry, are driving the market for automotive switches. As cars get more sophisticated and intelligent, there is an increasing need for sophisticated switches that can do multiple tasks at once. The demand for automotive switches is expected to increase significantly throughout the projected period due to the abrupt shift from the use of mechanical parts to electronic parts.
One of a car's fundamental parts, automobile switches are essential for controlling the lighting and almost every other aspect of operation. Along with many other automotive tasks, they are also utilized for engine start and stop applications. The market is particularly impacted by the growing production of electric and hybrid cars, which require different switches than regular gasoline-powered cars. Government regulations pertaining to pollution and vehicle safety are another factor driving up the adoption of advanced switches and other technology in automobiles. Over the course of the forecast period, growing demand for installing automobile accessories and ongoing technological advancements are anticipated to fuel the expansion of the automotive switches market.
Global Automotive Switch Market Report Snapshots
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