Automotive Pedal Market is Expected to Reach US$ 2,254.2 Million in 2023

Stratview Research announces the launch of a new research report on Automotive Pedal Market by Vehicle Type (Passenger Car, LCV, and M&HCV), by Pedal Type (Accelerator Pedal, Brake Pedal, and Clutch Pedal), by Material Type (Steel Pedals, Aluminum Pedals, and Composite Pedals), by Manufacturing Process Type (Stamping, Casting, Injection Molding, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

This market report, from Stratview Research, studies the pedal market in the global automotive industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Automotive Pedal Market: Highlights

The automotive industry has been experiencing various technological advancements targeting vehicle performance, passenger safety, and enhancement of fuel efficiency. Most of the parts in modern vehicles are equipped with electronic components. For instance, accelerator pedal no longer operates mechanically or via a cable linkage, rather a sensor is deployed in it to measure the position of the pedal and it transfers the data to ECU to adjust throttle elements. Another trend that is impacting the market is a growing shift from traditional metal pedals to lightweight pedals to reduce the weight of the pedal assembly, which contribute towards overall weight reduction and improvement in fuel economy. Glass fiber-reinforced polyamides are gaining traction in this segment.

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As per Stratview Research, the global automotive pedal market is projected to offer an impressive growth opportunity and is likely to reach an estimated value of US$ 2,254.2 million in 2023. Organic growth in automobile production owing to increasing disposable income and growing urbanization, increasing global automotive fleet size, stringent government regulations regarding reducing carbon emission reductions, such as CAFÉ Standards, and increasing demand of lightweight pedals are some of the major growth drivers of the market.

The author of the report cited that passenger car is expected to remain the growth engine of the market during the forecast period. High production of cars across regions, especially SUVs and hatchbacks, increasing demand for lightweight composite pedals, and continuous advancements in the pedal technology are driving the demand for pedals in the passenger car segment.
Based on the material type, steel is expected to remain dominant in the market during the forecast period, whereas composite is expected to witness the highest growth in the same period. Increasing demand for lightweight materials in the automotive industry that can contribute automakers to achieve a greater fuel efficiency or reduce carbon emissions, is driving the demand for composite pedals.

Stamping is expected to remain the dominant process type in the market during the forecast period, whereas injection molding is expected to witness higher growth in the same period.

In terms of region, Asia-Pacific is expected to remain the largest automotive pedal market during the forecast period, driven by high production of vehicles to meet the rising indigenous demand and increasing exports. China, Japan, and India would remain the growth engines of the Asia-Pacific’s automotive pedal market in the foreseen future.

Major automotive pedal manufacturers are F-Tech, KSR International, CTS Corporation, Toyoda Iron Works, Shanghai Kaizhong Material Science & Technology, Batz, S. Coop., and Bellsonica Corporation. Development of lightweight and more-efficient pedals and formation of strategic alliance with OEMs and material suppliers are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The global automotive pedal market is segmented into the following categories:

Automotive Pedal Market, By Vehicle Type
• Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Light Commercial Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medium- & Heavy-Duty Commercial Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Pedal Market, By Pedal Type
• Accelerator Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Brake Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Clutch Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Pedal Market, By Material Type
• Steel Pedals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aluminum Pedals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Composite Pedals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Pedal Market, By Process Type
• Stamping (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Casting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Pedal Market, By Region
• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Italy, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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This release was published on openPR.