Press release
2025 Automotive Pedals Market Outlook: Key Indicators Shaping Growth Through 2034
Automotive Pedals
What Will the Automotive Pedals Industry Market Size Be by 2025?
The size of the market for automotive pedals has been experiencing robust growth in recent times. Expected to grow from $2.41 billion in 2024 to $2.54 billion in 2025, it boasts a compound annual growth rate (CAGR) of 5.3%. Factors such as the growth of the automotive industry, a surge in vehicle manufacturing, the consumer preference for manual transmission, replacement and aftermarket sales, along with the globalization of automotive supply chains contribute to the growth recorded during the historic period.
What's the Long-Term Growth Forecast for the Automotive Pedals Market Size Through 2029?
The market size of automotive pedals is anticipated to experience consistent expansion in the coming years, growing to $3.02 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.4%. This predicted growth during the projected period is due to the shift towards electric and self-driving vehicles, the incorporation of high-tech sensor technologies, the emphasis on lightweight materials, the ergonomic design for driver ease, and customization and aesthetic choices. Key trends during the forecast period are expected to be the creation of intelligent pedals incorporating sensors, the launch of brake-by-wire systems, the emphasis on lightweight and ergonomic pedal designs, the adoption of adjustable pedal systems, and the inclusion of biometric sensors in accelerator pedals.
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What Are the Key Growth Drivers Fueling the Automotive Pedals Market Expansion?
The augmentation in the demand for commercial vehicles is predicted to boost the automotive pedals market's growth. Commercial vehicles, used mainly for business-related activities like transporting goods or passengers to generate profit, necessitate automotive pedals. These pedals allow efficient control over acceleration, braking, and clutch operations, ensuring safety and efficient functioning. For instance, data from the European Automobile Manufacturers Association-a professional body from Belgium that represents European car, truck, and bus manufacturers' interests-indicated that new commercial vehicle registrations in the EU in July 2023 rose 11.2% (730,969) for vans, 20% (179,508) for trucks, and 15% (14,781) for buses in the first half of 2023 in contrast to 657,180 vans, 149,595 trucks, and 12,857 buses in the first half of 2022. This increase in demand for commercial vehicles is escalating the growth of the automotive pedals market. Automotive Pedals Market Driver: The Escalating Number Of Road Accidents Boost The Automotive Pedals Market's Expansion
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What Are the Key Trends Driving Automotive Pedals Market Growth?
In an effort to improve vehicle safety and enhance driver control, leading corporations in the automotive pedals market are working on innovative products such as brake pedal position sensors. These sensors track the position and motion of the brake pedal, transmitting live data to the control systems of the vehicle. For example, Melexis, a microelectronics engineering company based in Belgium, introduced a brake pedal position sensor called MLX90424 in October 2024. With an inbuilt wake-up function, the MLX90424 is designed to augment automotive safety and efficiency. This ground-breaking sensor delivers precise linear displacement measurements up to 30mm and can operate on a direct 12V battery, thus omitting the demand for extra regulators. This reduces the component costs and simplifies the automotive system designs. Moreover, it merges two position-sensing integrated circuits and a wake-up switch in a single compact package, making the assembly process simpler compared to the conventional systems that necessitate distinct sensors and switches.
How Is the Automotive Pedals Market Segmented?
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 Companies Are Leading the Charge in Automotive Pedals Market Innovation?
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
Which Regions Are Leading the Global Automotive Pedals Market in Revenue?
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.
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