◎ Automotive Switches Market: Growing Demand and Future Scope to 2030

According to the Market Statsville Group (MSG), the global automotive switches market size was valued at USD 27.3 billion in 2021 and is expected to reach USD 49 billion by 2030, growing at a CAGR of 7.6% from 2022 to 2030.Plays a key role in managing automotive lighting and almost all car interior work.They can also be used for engine start and stop applications and some other automotive functions.Globally, increasing technological advancements and growing demand for mounted auto accessories are likely to drive the growth of the automotive switches market.
The global automotive industry has undergone an incredible transformation over the past few years.Growing demands for passenger safety and comfort have led automakers to focus on shaping new design experiences through the effective integration of new technologies and processes.
Car switches are one of the basic mechanisms of a vehicle as they regulate the entire electrical equipment installed in the car.
The coronavirus outbreak has transformed the auto industry, and other manufacturers have adjusted their operations in response to the disruptions the pandemic has wreaked on autos, transportation, travel and several other industries.The automotive industry is a core support block for several economies, including the United States, China, and India.
The auto industry has seen a drop in both sales and revenue due to lockdowns and restrictions imposed by countries around the world.Sales and after-sales services in the auto industry have been hit hard by the pandemic, leading to an increase in cost-cutting measures by auto companies around the world to reduce operating costs and labor.The economic impact of the COVID-19 outbreak on the automotive industry has had a significant impact on ancillary industries such as auto parts and the automotive aftermarket.
Automatic switches operate according to the responses sent by different sensors.They are generally installed on luxury passenger cars and other premium vehicles.When the light switch is set to automatic mode, the headlights automatically turn on in response to low ambient light conditions, such as when the car is going through a tunnel at sunset, or during rain/snow.In addition, the automatic switch improves the convenience of driving the car by helping to achieve automatic dimming mirror action.
The raw materials commonly used to make automotive switches are sheet metal, plated materials and plastics.Brass, nickel and copper are commonly used as plating materials in automotive switches.The prices of all these metals fluctuate based on several international factors.For example, the price of nickel was $13,030 per metric ton in March 2019, compared to $17,660 per metric ton in September 2019, and $11,850 per metric ton in March 2020.
By switch type, the global automotive switch market has been segmented into rocker, rotary, toggle, push, and others.In 2021, Push Switch will have the highest market share in the global automotive switch market at 45.8%.A push button switch or push button switch is a non-latching type of switch that causes a momentary change in the state of a circuit when the switch is physically activated.
In recent years, buttons have gained popularity as start-stop buttons in cars.In addition to increasing the convenience of starting/stopping the car, they are also designed to make the vehicle safer.Since a physical key is not required to start a car with a push-start stop switch, it can prevent vehicle theft.
On the basis of region, the global automotive switches market has been segmented into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.Globally, Asia Pacific is expected to maintain the highest CAGR of 8.0% over the forecast period for the global automotive switches market.
After Asia Pacific, North America is the fastest growing region, with a compound annual growth rate of 7.9% for the global automotive market.The North America region is expected to witness the growth of the automotive switches market owing to key driving factors such as increasing vehicle sales and integration of automotive mandatory safety electronic systems.The above factors along with increasing investments in Hyundai automotive switches are expected to drive the demand for this product over the forecast period.
The global automotive switches market is expected to witness significant growth owing to the growing demand for automotive switches mounted on vehicles to enhance passenger and driver safety, comfort, and convenience.Car switches are suitable for different functions such as cruise control, light control, wiper control, HVAC control, etc.