Automotive Switches Market: Developing Economies Consolidate Small-Scale Automotive Switches Market Players

Rockville, USA, 2019-Feb-26 — /EPR Network/ —  Fact.MR’s recent market analysis reveals a steady growth prospects for the automotive switches market based on thorough analysis of the prominent trends prevailing in the automotive industry. Increasing demand for electronic components in automobiles, growing preference for comfort and luxury in automotive interior and expansion of electro-mobility are important fillips of the automotive switches market identified in the report. Fact.MR’s study shows that the automotive switches market is estimated to witness a volume CAGR of 4.2% during the period of assessment 2018 – 2028. A significant rise in vehicle production, increasing size of vehicle fleet and growing demand for auto parts is projected to contribute to the sales volume of 4,207.6 Million units of automotive switches by 2028 end.

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Developing Economies Consolidate Small-Scale Automotive Switches Market Players

Economic growth and per capita income show significant influence on the outlook of automotive industry and growth of the auto parts market. The automotive switches market is prominently influenced by consumer buying power. Following this trend, tier 1 and tier 2 companies in the automotive switches market have a strong presence in the developed economies with their preference for OEMs for supply contracts.

The report reveals that passenger cars demand in developing regions is likely to contribute to the rapidly expanding market for automotive switches. China is estimated to dominate the sales volume of automotive switches while capturing almost 30% of the global sales volume. India, in the South East Asia & Pacific region and other developing countries such as Mexico, Brazil and Turkey are estimated to grow at a significant rate during the forecast period.

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Stakeholders in the automotive switches market are focusing on improving the human-machine interface technologies and delivering a high degree of comfort and accuracy in their product offerings. Significant investments in R&D can be observed to implement IOT and other advanced technologies. The investments are aimed at accommodating increasing preference for electro-mobility and connectivity in transport solutions. Key players in the automotive switches market are actively engaged in innovation and product development to launch premium-quality automotive switches that are highly sought after by automotive OEMs.

The market taxonomy of the automotive switches market is discussed elaborately with the in-depth information of all the market segments. The automotive switches market is segmented based on vehicle type, switch type and sales channel. With the geographical point of view, the automotive switches market is thoroughly analyzed for a total of seven regions where an in-depth country-wise analysis forms the basis of the global market forecast.

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Few of the key companies identified in the automotive switches market include Tokai Rika Co, Ltd., LS Automotive Technologies, Hella KGaA Hueck & Co., Panasonic Corporation, Robert Bosch GmbH, TE Connectivity, Honeywell International, ZF Friedrichshafen AG, Omron Corporation, Leopold Kostal GmbH & Co. KG, Toyodenso Co., Ltd., Industrial Engineering Syndicate (INENSY), and Aptiv PLC.

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