From GlobeNewswire: 2024-05-17 02:30:00

The Global Automotive Switch Market is projected to grow from USD 7.41 billion in 2023 to USD 11.98 billion by 2033, with a CAGR of 4.92%. Rising demand for car accessories and technical advancements are driving market growth. However, fluctuating prices of switch materials hinder expansion.

In the automotive switch market, the button segment is expected to hold the largest share. Push switches are forecasted to grow at the fastest CAGR due to their user-friendly design. Passenger cars are anticipated to have a significant market share, driven by the need for multiple switches for modern features.

Asia Pacific is projected to dominate the global automotive switch market, driven by advanced technology integration in vehicles. North America is expected to show the fastest CAGR due to the integration of sophisticated systems in light commercial vehicles. Major vendors include Panasonic Corporation, ZF Friedrichshafen AG, and more.

Recent developments include ZF Friedrichshafen AG equipping its belt tensioner with switchable load limiters. The market is segmented by type, design, vehicle, and region. Competitive analysis includes key players like Valeo SA, Toyodenso Co. Ltd, and more. Market forecast revenue from 2020 to 2033.



Read more at GlobeNewswire: Global Automotive Switch Market Size To Exceed USD 11.98