NEW YORK, June 24, 2015 /PRNewswire/ -- The global automotive switches market is estimated to grow at a promising rate of 5.9% from 2014–2019, following growth in the global vehicle production and sales volume. Asia-Oceania was estimated to be the largest market in terms of volume for automotive switches in 2014. China, Japan, and South Korea are the main contributors to the automotive switches market in Asia-Oceania. Several OEMs are expanding in the Asia-Oceania region to cater to the sizable demand in the region. The penetration of touchpad switches is less in the commercial vehicles in China and India as compared to the same in western countries such as U.S. Canada, Germany, U.K., and others. North America was estimated to be the second largest market in terms of volume for switches in 2014, following increased production of vehicles in the region. The market for button switches is estimated to have the highest market share in the global automotive switches market, following increasing installation of electronic systems in passenger cars as well as commercial vehicles.
High demand for switches, growth in commercial and passenger vehicles sales, and increasing installation of switches are the main drivers of the automotive switches market. The automotive switches market has witnessed decent growth in developing countries, as well as developed ones. The global automotive switches market, in terms of volume, was estimated to be at 500.4 million units in 2014. The automotive switches market is growing at a significant rate in North America and Asia-Oceania, owing to increase in vehicle production and sales, while the European and RoW markets are estimated to grow at a decent rate.
In this research study, the automotive switches market is divided into four major segments: by type (knob, lever, button, and touchpad), automotive application (HVAC, indicator, electronic, engine management, and other systems), and region (North America, Europe, Asia-Oceania, and RoW).
This report classifies and defines the automotive switches market size, in terms of volume and value. It provides a comprehensive analysis and insights (both, qualitative and quantitative) into automotive switches. It highlights potential growth opportunities in the coming years, while also reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to automotive switches. Along with a quantitative analysis, the report covers qualitative aspects such as value chain analysis, PEST analysis, and Porter's Five Force analysis for the global automotive switches market.
Key players in the automotive switches market have also been identified and profiled.
Some of the key players include Continental Group (Germany), Delphi Automotive Plc. (U.K.), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany) and TRW Automotive (U.S.). The major strategies adopted by these market players include regional expansion and new product development. The majority of suppliers have adopted organic growth strategies for gaining market share in automotive switches market
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