Press release
Global Automotive Pedals Market to Reach 3.02 Billion by 2029, Growing at 4.4% CAGR
Automotive Pedals Market
The automotive pedals market has exhibited steady growth in recent years. It is projected to rise from $2.41 billion in 2024 to $2.54 billion in 2025 at a CAGR of 5.3%. The historical growth drivers include overall automotive industry expansion, increased vehicle production, consumer preferences for manual transmission, replacement and aftermarket sales, and the globalization of automotive supply chains.
The automotive pedals market is expected to experience steady growth, reaching $3.02 billion by 2029 at a CAGR of 4.4%. Growth is driven by the shift toward electric and autonomous vehicles, advancements in sensor technologies, a focus on lightweight materials, ergonomic designs for comfort, and customization preferences. Key trends include the development of smart pedals, brake-by-wire systems, lightweight and ergonomic pedal designs, adjustable pedals, and the use of biometric sensors in accelerator pedals.
What Factors Are Fueling Growth in the Automotive Pedals Market?
The growing demand for commercial vehicles is boosting the automotive pedals market, as these vehicles require reliable pedals for acceleration, braking, and clutch functions. New commercial vehicle registrations in the European Union rose significantly in 2023, further driving the growth of automotive pedals.
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Which Leading Companies Are Shaping the Growth of the Automotive Pedals Market?
Major companies operating in the automotive pedals market report are Mercedes-Benz Group AG, Honda Motor Co. Ltd., Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Continental AG, Faurecia SE, Lear Corporation, Samvardhana Motherson International Ltd., Knorr-Bremse AG, HL Mando Corporation, Toyoda Iron Works Co. Ltd., Pacific Industrial Co. Ltd., F.TECH Inc., Yorozu Corporation, Dura Automotive LLC, Mikuni Corporation, CTS Corporation, Shanghai Kaizhong Materials Science and Technology Co. Ltd., Kyung Chang Industrial Co. Ltd., Brano Group A.S., KSR International Inc., BATZ S. COOP. LTDA, F&P America Mfg. Inc., CJ Automotive AB, Bellsonica Corporation
What Are the Major Trends Shaping the Automotive Pedals Market?
In the automotive pedals market, companies are focused on products like brake pedal position sensors to improve vehicle safety. For example, in October 2024, Melexis, a Belgium-based microelectronics company, introduced the MLX90424 brake pedal position sensor, which provides accurate displacement measurements and enhances automotive safety and efficiency.
What Are the Key Segments of the Automotive Pedals Market?
The automotive pedals market covered in this report is segmented -
1) By Pedal Type: Accelerator, Brake, Clutch
2) By Material: Steel, Aluminum, Magnesium, Plastic, Other Materials
3) By Application: Passenger Cars, Commercial Vehicles
Subsegments:
1) By Accelerator: Electronic Accelerator Pedals, Mechanical Accelerator Pedals
2) By Brake: Floor-mounted Brake Pedals, Suspended Brake Pedals
3) By Clutch: Hydraulic Clutch Pedals, Cable-Operated Clutch Pedals
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Which Region Dominates the Automotive Pedals Market?
Asia-Pacific was the largest region in the automotive pedals market in 2024. The regions covered in the automotive pedals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automotive Pedals Global Market Report?
- Market Size Analysis: Analyze the Automotive Pedals Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Pedals Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Pedals Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Pedals Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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