Automotive Pedal Market is Likely to reach an estimated value of US$ 2,254.2 million in 2023

Stratview Research has launched a new research report on Automotive Pedal Market. Published on Sep,2018, this 239-page report segments the market in five ways to provide a 360-degree holistic view.

The forecast of the market size has been segmented by –
 Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- & Heavy-Duty Commercial Vehicle),
 Pedal Type (Accelerator pedal, Brake Pedal, Clutch Pedal),
 Material Type (Steel Pedals, Aluminum Pedals, Composite Pedals),
 Process Type (Stamping, Casting, Injection Molding, Others),
 Region
 North America (Country Analysis: The USA, Canada, and Mexico)
 Europe (Country Analysis: France, Germany, the UK, Italy, Russia, and Rest of Europe)
 Asia-Pacific (Country Analysis: China, Japan, India, South Korea and Rest of Asia-Pacific)
 Rest of the World (Country Analysis: Brazil, Argentina and Others)
The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Automotive Pedal Market.

Years considered for this report –
 base year 2018
 trend period 2012 – 2017
 forecast period 2018 - 2023

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Automotive Pedal market to become US$ 2,254.2 million opportunity

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 automotive pedal market.
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 market is a growing shift from traditional metal pedals to lightweight pedals in order 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 market.

Passenger car is expected to remain the growth engine

The market is segmented based on the vehicle type as Passenger Car, LCV, and M&HCV. 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.

Steel is expected to remain the dominant material type

Based on the material type, the market is segmented as steel, aluminum, and composites. Steel is expected to remain the dominant material type 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 to reduce carbon emissions is driving the demand for composite pedals.

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Stamping process is expected to remain dominant process type

Based on the manufacturing process type, the market is segmented as stamping, casting, injection molding, and others. Stamping process is expected to remain dominant process type in the automotive pedal market during the forecast period, whereas the injection molding process is expected to witness a higher growth during the same period.

Asia-Pacific is expected to remain the largest automotive pedal market

In terms of regions, 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 export. China, Japan, and India would remain the growth engines of the Asia-Pacific’s automotive pedal market in the foreseen future.

Key Strategies

Development of lightweight and more-efficient pedals and formation of strategic alliances with OEMs and material suppliers are the key strategies adopted by the major players to gain a competitive edge in the market.
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.

Major Automotive Pedal companies - F-Tech, KSR International, CTS Corporation, Toyoda Iron Works, Shanghai Kaizhong Material Science & Technology, Batz, S. Coop., and Bellsonica Corporation.

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 on 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.

Research Methodology
This report studies the Automotive Pedal Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 10 industry stakeholders across the value chain.
 Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
 More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Stratview Research has several high value market reports in the Automotive industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html

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This release was published on openPR.