Panasonic, Steering Wheel Switches Market Analysis 2018 Companies – Delphi, ZF Group, Valeo, Tokai Rika

Steering Wheel Switches Market will cross 500 million units by 2024. Various applications including infotainment, ADAS, and onboard computer are enhancing the number of switches to be deployed on steering wheels. Rising number of functions in vehicles will result in increased production of these switches, primarily driving the industry growth over the forecast timeline.

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OEMs is expected to generate over USD 3 billion by 2024. The segment holds maximum share due to increasing automobile manufacturing across the globe. Rising disposable income enables the consumers to customize several functions in their vehicle resulting in improved steering wheel switches market growth rate. Technological innovations results in increased number of buttons to be incorporated for operating multiple functions.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ZF
2. Delphi
3. Alps
4. Tokai Rika
5. Valeo
6. Panasonic
7. Changjiang Automobile
8. GSK INTEK CO.
9. Leopold Kostal
10. Marquardt
11. Methode Electronics, Inc.
12. Aptiv
13. COBO International
14. Vimercati SpA
15. Toyodenso
16. C&K Components
17. Fangxiang
18. Standard Motor Products

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Passenger cars will grow significantly, witnessing a CAGR of 4% from 2017 to 2024. Incorporation of more applications in vehicles coupled with rising consumer interest for sports and premium cars will primarily contribute to the high revenue generation. LCV will exhibit considerable revenue share owing to its rising penetration in developing countries. This demand is credited to increased domestic transportation across the globe.

Steering wheel switches market from push buttons will account for maximum revenue share over the forecast timeframe owing to its high requirement in various vehicle applications. These applications include self-driving mode, automatic climate controls, and vehicle information, etc. The usage of these switches results in enhancement in driver’s safety that will lead to minimization of accident rate globally.

See-saw buttons are likely to grow significantly, witnessing a CAGR of more than 3% till 2024. Rising deployment of these switches for audio and operating cruise functions will drive the industry growth. Shifting consumer preference towards vehicle infotainment systems will boost the revenue generation.

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Europe steering wheel switches market is expected to hold a significant share crossing USD 1 billion till 2024. Presence of established automobile OEMs along with stringent regulations across the region for driver safety enhancement will support the industry growth. Asia pacific will account for highest volume share owing to high production of automobile along with shifting consumer preference towards premium cars.

Steering wheel switches market players include ALPS, Valeo, Delphi, DAsESUNG, Panasonic Automotive, and Tokai Rika. Other notable players are Fangxiang, Vimercati, COBO International, Aptiv, and Marquardt. Industry participants are engaged in mergers and acquisitions with automobile OEMs to enhance their supply chain model.

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