Press release
Automotive Switch Market on Track for Strong Growth, Estimated to Grow at 8.7% CAGR Through 2029
Automotive Switch
What Is the Expected CAGR for the Automotive Switch Market Through 2025?
The market size of automotive switches has significantly increased over the past few years. It is forecasted to expand from $23.35 billion in 2024 to $25.03 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors such as the surge in vehicle manufacture, safety rules, progression in the electric vehicle (ev) sector, aging automotive fleets, and swift urbanization contributed to the growth during the historic period.
What's the Projected Size of the Global Automotive Switch Market by 2029?
The size of the automotive switch market is forecasted to experience significant growth in the coming years, predicting to peak at $34.9 billion by 2029 with a compound annual growth rate (CAGR) of 8.7%. This surge in the estimated period can be credited to increased usage of autonomous vehicles, economic market progress, embracing of automotive electronics, and a rise in disposable income. Notable trends to look out for during the projected period include controls based on touch and gesture, switches with haptic feedback, modular and multi-functional switches, human-machine interface (hmi) integration, and customisations in the aftermarket.
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Top Growth Drivers in the Automotive Switch Industry: What's Accelerating the Market?
The growth of the automotive switch market is anticipated to be fueled by the worldwide rising adoption of electric vehicles. These vehicles, unlike traditional ones, do not use conventional fuels such as gasoline or diesel. Instead, they use electric current for their operation. The operating costs of electric vehicles are relatively low due to the fewer moving parts requiring maintenance. Additionally, they are extremely eco-friendly. An example is in a report by Kelley Blue Book, a Cox Automotive company based in the United States, which reported in January 2024 that a record-high of 1.2 million car purchasers in the United States in 2023 opted for electric vehicles. This equated to 7.6% of the whole U.S. vehicle market, rising from 5.9% in 2022. Consequently, the escalating adoption of electric vehicles is propelling the growth of the automotive switch market.
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Which Emerging Trends Are Transforming the Automotive Switch Market in 2025?
The rise in technology in the area of automotive fingerprint start-ups is an emerging trend in the automotive switch market. To establish a strong foothold, top-notch firms within this sector are striving to innovate and introduce new technology-driven solutions. For example, in February 2024, a US-based company, ROC, unveiled its latest innovation, the Next-Gen Latent Fingerprint Capabilities. This cutting-edge technology is specially designed to increase the precision and productivity of fingerprint recognition and analysis. The development of this technology was largely influenced by the FBI's Next Generation Identification (NGI) system, which has notably revolutionized the methods of collection, storage, and retrieval of latent fingerprints.
What Are the Main Segments in the Automotive Switch Market?
The automotive switch market covered in this report is segmented -
1) By Type: Ignition Switches, HVAC Switches, Steering Wheel Switches, Window Switches, Overhead Console Switches, Seat Control Switches, Door Switches, Hazard Switches, Multi-purpose Switches, Other Types
2) By Design: Rocket Switches, Rotary Switches, Toggle switches, Push Switches
3) By Vehicle: PCV, LCV, HCV, Two Wheelers
4) By Application: Indicator System Switches, HVAC, EMS Switches, Electronic System Switches, Others Switches
Subsegments:
1) By Ignition Switches: Traditional Key Ignition Switches, Push-to-Start Ignition Switches
2) By HVAC Switches: Temperature Control Switches, Fan Speed Control Switches, Mode Control Switches
3) By Steering Wheel Switches: Audio Control Switches, Cruise Control Switches, Voice Command Switches
4) By Window Switches: Power Window Switches, Window Lock Switches
5) By Overhead Console Switches: Dome Light Switches, Sunroof Control Switches
6) By Seat Control Switches: Power Seat Adjustment Switches, Heated Seat Control Switches
7) By Door Switches: Door Lock Switches, Door Ajar Switches
8) By Hazard Switches: Emergency Flashers Switches
9) By Multi-purpose Switches: Combination Switches (e.g., turn signal and wiper control)
10) By Other Types: Fog Light Switches, Traction Control Switches, Parking Brake Switches
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Which Top Companies are Driving Growth in the Automotive Switch Market?
Major companies operating in the automotive switch market include ZF Friedrichshafen AG, Johnson Electric Holdings Limited, Leopold Kostal GmbH & Co. Kg, Marquardt GmbH, Preh GmbH, Valeo, Robert Bosch GmbH, Littelfuse Inc., INENSY, Tokai Rika Co Ltd., Toyodenso Co. Ltd., Alps Alpine Co. Ltd., Continental AG, Hella KGaA Hueck & Co., Omron Corporation, Panasonic Corporation, Minda Corporation Limited, Sumitomo Corporation, Lear Corporation, Aptiv PLC, Yazaki Corporation, Leoni AG, Furukawa Electric Co. Ltd., Fujikura Ltd., Coroplast Fritz Müller GmbH & Co., Jiangsu Kyungshin Electronic Co. Ltd., Nexans S.A., THB Group Inc., Hitachi Automotive Systems Americas Inc.
Which Regions Will Dominate the Automotive Switch Market Through 2029?
Asia-Pacific was the largest region in the automotive switch market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive switch market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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