Author: Himanshu Patni
20 November 2021
Global Automotive Switches Market is expected to grow at a CAGR of around 3.1% during the forecast period 2021-2027. One of the most essential components of a vehicle is the switch. They oversee the entire electrical system in a vehicle. Automotive switches are essential for controlling the lighting and practically all of the functions of a vehicle. They’re also employed for engine start-up and stop, as well as a variety of other automotive operations. Over the forecast period, increasing technological improvements and increased demand for installing car accessories are expected to propel the automotive switches market forward globally.
The trend of making vehicles completely automated by switching from mechanical to electronic components is fueling the growth of the automotive switches market. The growing demand for LCVs and HCVs is having a significant impact on the automotive switch market. For example, the number of commercial vehicles sold in 2018 was 26 million units, and that number increased to 27 million in 2019 with a growth rate of about 3.8 percent, affecting the automotive switch market accordingly.
For a detailed analysis of the Covid-19 Impact on the market browse through – https://univdatos.com/report/automotive-switches-market/
COVID-19 forced most countries to go into a complete lockdown for more than two months, which hampered car manufacture a lot. Manufacturing units around the world have been shut down, resulting in a decline in car sales and, as a result, a global impact on output. Despite the fact that several OEMs have resumed manufacturing, the automotive switches market is expected to fall significantly in 2021. Even though the COVID-19 outbreak halted ICE car production, automakers are still working on new automobile switch systems.
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For a better understanding of the market adoption of Automotive Switches, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Asia Pacific dominated the market in 2020 and is expected to grow at a higher rate during the forecasted period. The rising popularity of luxury vehicles, particularly in China, is the key driver of this trend. In addition, the automotive switches market in Asia Pacific is being propelled by the increasing penetration of modern technologies such as automatic transmission, infotainment display, and front and rear air conditioning in vehicles produced
Global Automotive Switches Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by Vehicle
Market Insight, by Region
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