Sellbyville, DE -- (SBWIRE) -- 01/25/2019 -- Automotive Switch Market growing at around 5% CAGR, while the shipments will reach about 850 million units by 2024. Automotive switches market from engine management applications is anticipated to grow at an annual rate of more than 4% over 2016-2024. Spreading awareness of automobile safety while driving has favored the market growth for engine management applications. Anti- lock pressure, traction control, clutch release, and parking brake are some components that are incorporated in safety engine management application.

Automotive switches find wide application in electric steering, passenger vehicles, HVAC systems, commercial vehicles, indicator systems, transmission, infotainment, and engine management systems. Passenger vehicles sector, which contributed more than 70% of automotive switch industry size in 2016, is anticipated to make noteworthy contributions towards the industry share in future. The growth can be accredited to the seamless driving experience of the user along with better engine functionality accompanied by secured vehicle features.

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Rising deployment of toggle switches, keyed switches, & other switch line products in vehicles for user safety will propel Automotive Switch Market size. The vehicle production across the globe has improved by 13% from 2012 to 2016, which calls for new growth opportunities for business. Rapid technological innovations in automotive electronics systems will enhance the user connectivity and increase vehicle efficiency, thereby plotting a profitable roadmap for automotive switch market.

Based on the product trends, automotive switch market is segmented into various products such as touchpads, knobs, buttons, and levers. Button automotive switch industry is predicted to experience a significant surge over the coming years, driven by the escalated use in passenger and commercial vehicles. Touchpad automotive switch market is slated to expand notably over the coming timeframe, owing to the rising installation of added smartphone features to the automobile along with the product's ability to integrate with the touch panel for improving the aesthetic appearance and value of the vehicle. Firms are emphasizing on the installation of touchpads as a vital component of the electronic systems in automobiles to fulfill the rising consumer demand for the advanced cars.

Automotive Switch Market By Product

- Knob
- Lever
- Button
- Touchpad
- Others

Automotive Switch Market By Application

- HVAC
- Indicator system switches
- EMS switches
- Others

China is recorded to be the largest manufacturer of passenger vehicle in 2016, accounting for almost 34% of the global production. This huge production base in the country will have a direct impact on the regional Automotive switches market as it has escalated the demand for hi-tech vehicle components.
Europe Automotive switches industry will also benefit in the years ahead from the huge adoption of advanced electronics system incorporation by OEMs.

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Automotive switches market is highly characterized by research activities in developing novel, cost-effective technologies to achieve fail-safe accuracy for its incorporation into vehicles. Some of the Prominent industry participants who are investing heavily for the enhancement of the market include Continental, Delphi, Omron, Hella, and Tokai Rika.

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