Automotive Switch Global Market Report 2024

Automotive switches serve the purpose of establishing or disconnecting electrical connections between the power source and the on-board power supply in vehicles. They play a critical role in performing various switching tasks, contributing to both safety and comfort within the vehicle.

The primary types of automotive switches include ignition switches, HVAC switches, steering wheel switches, window switches, overhead console switches, seat control switches, door switches, hazard switches, and multi-purpose switches. Ignition switches, for example, consist of multiple components working together and are controlled by the vehicle's internal computer to start the vehicle. Automotive switches come in various designs such as rocket switches, rotary switches, toggle switches, and push switches. These switches are utilized across a range of vehicles, including Passenger Cars (PCVs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and two-wheelers. They find applications in various systems within the vehicle, including indicator system switches, HVAC (Heating, Ventilation, and Air Conditioning), EMS (Engine Management System), and other electronic system switch applications.

The automotive switch market research report is one of a series of new reports that provides automotive switch market statistics, including automotive switch industry global market size, regional shares, competitors with automotive switch market share, detailed automotive switch market segments, market trends and opportunities, and any further data you may need to thrive in the sutomotive switch industry. This automotive switch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive switch market size has grown strongly in recent years. It will grow from $21.65 billion in 2023 to $23.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed during the historic period can be attributed to several factors, including the increase in vehicle production, the influence of safety regulations, growth in the electric vehicle (EV) market, an aging vehicle fleet, and rapid urbanization trends.

The automotive switch market size is expected to see strong growth in the next few years. It will grow to $33.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of autonomous vehicles, economic market growth, the adoption of automotive electronics, and a rise in disposable income. Major trends expected during this period encompass the integration of touch and gesture controls, the use of haptic feedback switches, the development of modular and multi-function switches, the integration of Human-Machine Interface (HMI), and a focus on aftermarket customization within the automotive switch industry.

The surge in global electric vehicle adoption is set to drive the expansion of the automotive switch market. Electric vehicles, characterized by their reliance on electrical current rather than traditional fuel sources, have gained substantial traction owing to their low maintenance costs, minimal environmental impact, and operational efficiency. Notably, Power Electronics reported substantial growth in electric vehicle markets across China, the United States, and Europe in 2021, with a 160% increase in sales during the first half of the year. This momentum accounted for 26% of new sales in the global automotive market, demonstrating the increasing adoption of electric vehicles and subsequently fueling the growth of the automotive switch market.

Furthermore, the automotive switch market is anticipated to experience growth propelled by increased sales in the commercial vehicle sector. Commercial vehicles, crucial for transporting goods and passengers, heavily rely on automotive switches for diverse functions, contributing to safety, convenience, and overall vehicle operation. Data from the International Organization of Motor Vehicle Manufacturers revealed a remarkable 69% surge in commercial vehicle sales in Argentina in 2021, while Austria experienced a more modest 9% uptick. This heightened demand in commercial vehicle sales is poised to drive the growth of the automotive switch market.

A noteworthy trend gaining traction in the automotive switch market is the technological advancement in fingerprint automotive start systems. Major players in the automotive switch sector are dedicated to developing cutting-edge technological solutions to enhance their market position. For instance, Genesses, a US-based company, introduced TECH in September 2021 - a fingerprint automation system utilizing advanced technology and automotive intelligence. This innovative system enables drivers to control the vehicle based on biometric information, eliminating the need for traditional keys or smartphones. The fingerprint authentication can be utilized for in-vehicle functions and valet mode release, showcasing a forward-looking approach to automotive switch technology. Genesses plans to integrate this technology into the new module GV60.

Major companies in the automotive switch market are investing in innovative products to meet the increasing demands of automotive consumers. A notable example is the introduction of the SPVQ8H Series by Alps Alpine Co., Ltd., a Japanese electronic company, in March 2021. This series of switches is characterized by its exceptionally small size, waterproof design, and internal resistor. Rated for a maximum of 0.1A at 12V DC, these switches have a push operating force of 1±0.5N and an actuator force of 3N at most. The SPVQ8H Series is recognized as one of the smallest detector switches in the industry and is available in a variety of configurations. These waterproof detector switches cater to diverse applications, including automotive, industrial, and consumer electronics.

In August 2022, Cummins Inc., a leading U.S.-based automotive component manufacturer, completed the acquisition of Meritor, Inc., a U.S.-based manufacturer of automobile components, in a deal valued at 3.7 billion. This strategic move by Cummins Inc. is aimed at strengthening its product offerings and capabilities in axle and brake technology, reflecting the dynamic landscape of partnerships and acquisitions within the automotive industry.

Major companies operating in the automotive switch market include ZF Friedrichshafen AG, Johnson Electric Holdings Limited, Leopold Kostal GmbH & Co. Kg, Marquardt GmbH, Preh GmbH, Valeo, Robert Bosch GmbH, Littelfuse Inc., INENSY, Tokai Rika Co Ltd., Toyodenso Co. Ltd., Alps Alpine Co. Ltd., Continental AG, Hella KGaA Hueck & Co., Omron Corporation, Panasonic Corporation, Minda Corporation Limited, Sumitomo Corporation, Lear Corporation, Aptiv PLC, Yazaki Corporation, Leoni AG, Furukawa Electric Co. Ltd., Fujikura Ltd., Coroplast Fritz Müller GmbH & Co., Jiangsu Kyungshin Electronic Co. Ltd., Nexans S.A., THB Group Inc., Hitachi Automotive Systems Americas Inc.

Asia-Pacific was the largest region in the automotive switch market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive switch market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the Automotive Switch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The automotive switch consists of sales of power relays, PCB power relays, DC small power relay, power relays high capacities switching, AC power latching relays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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