Automotive Micro Switch Market
Automotive Micro Switch Market (Type - Standard Micro Switch, General Purpose Micro Switch, Single Pole Standard Precision Micro Switch, Double Pole Double Throw Micro Switch, Subminiature Micro Switch, Ultraminiature Micro Switch, Reset Switches, and Door interlock Switches) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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Automotive Micro Switch Market: Snapshot
Micro switches are a category of electric switches that are actuated through the use of a tipping-point mechanism (also called as “over-center mechanism”) with very little force. The main advantage of a micro switch is its reliability. Switching occurs at specific positions reliably, which is a feature not present in other switches. The important feature of micro switches is that a small movement of the actuator produces a larger movement at the electrical contacts. Micro switches are very common due to their durability and low cost. The automotive industry is the largest adopter of micro switches, which are mainly used in engine area interiors, operation systems, door interlocks, electronic steering column lock, seat detection, and electronic parking brakes, among others. Moreover, the steady fall in micro switch prices is also driving the market.
The growth of the micro switch market is mainly attributable to the growing automotive industry. The demand for micro switches is high in emerging economies from Asia Pacific, such as China and India, due to the flourishing automotive industry in these countries. In addition to this, micro switches are known for their long life, which is expected to keep micro switches constantly in demand over the forecast period. Several established players in the market are trying to innovate novel micro switch technology, which is expected to create a strong opportunity for growth of the micro switch market over the forecast period. The global market for automotive micro switches is anticipated to expand at a CAGR of 5.1% during the forecast period from 2017 to 2025. The global automotive micro switch market is expected to reach US$4,282.2 mn by 2025.
Consumer Electronics to Exhibit Rapid Growth; Automotive Industry to Retain Dominance
The global micro switch market has been segmented on the basis of end user and region. On the basis of end user, the market is segmented into consumer electronics, industrial, automotive, retail and others. In 2016, the automotive industry accounted for the largest market share, followed by the industrial segment. Consumer electronics are expected to grow at a higher rate during the forecast period due to rising penetration of smartphones, tablets, laptops etc. in the 20th century.
In terms of type, the market is segmented into standard micro switch, general purpose micro switch, single pole standard precision micro switch, double pole double throw micro switch, subminiature micro switch, ultraminiature micro switch, reset switches, door interlock switches, and others. Standard micro switches, general purpose micro switches, and subminiature micro switches collectively held more than 50% of the global automotive micro switch market in 2016.
Asia Pacific to Dominate Automotive Micro Switch Market
Geographically, Asia Pacific is the largest market for automotive micro switches, followed by North America and Europe. The Asia Pacific automotive micro switch market was valued at US$927.1 mn in 2016 and is expected to rise to US$1,525.3 mn by 2025. The Middle East and Africa is expected to witness the fastest growth during the forecast period as the number of automotive factories is expected to rise significantly in the region in the coming years. The Middle East and Africa market for automotive micro switches is likely to exhibit a CAGR of 5.9% in the 2017-2025 forecast period, rising to a revenue valuation of US$346.9 mn by 2025.
The automotive micro switch market is highly fragmented with a number of companies operating in the segment. Companies such as Honeywell Sensing and Productivity Solutions, Panasonic Corporation, etc. have been able to establish themselves as leaders. Leading players are currently focusing on providing cost competitive products to customers. Moreover, as part of this strategy, many companies are engaging in various strategic partnerships and acquisitions, focusing on expanding their business through new service additions and geographical presence.
Some of the key players engaged in the automotive micro switches market are Alps Electric, C&K Components Inc., CAMSCO Electric Co. Ltd., Crouzet Automatismes SAS, Honeywell Sensing and Productivity Solutions, Johnson Electric Holdings Ltd., The APEM Group, Microprecision Electronics, OMRON Corporation, Knitter Switch, Panasonic Corporation, Salecom Electric Co. Ltd., TE Connectivity, TROX GmBH, ZF Electronics, and Zippy Technology, among others.
Global Automotive Micro Switch Market: Overview
The global automotive micro switch market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and technologies playing a key role in automotive micro switch market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides a holistic perspective on the automotive micro switch market’s growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn and Million units), across different geographies, including North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and South America.
Global Automotive Micro Switch Market: Scope and Research Methodology
The market overview section of the report demonstrates the market dynamics and trends, such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the automotive micro switch market, globally. Moreover, the report provides an overview of the various strategies of key players present in the market. Introduction and market definition chapter helps in understanding different technologies of automotive micro switch along with their applications which are included in the report.
Global Automotive Micro Switch Market: Segmentation
The report segments the global micro switch market on the basis of end-user into consumer electronics, industrial, automotive, retail and others. Thus, the report provides in-depth cross-segment analysis of the automotive micro switch market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels. Further, the automotive micro switch market is segmented into Standard Micro Switch, General Purpose Micro Switch, Single Pole Standard Precision Micro Switch, Double Pole Double Throw Micro Switch, Subminiature Micro Switch, Ultraminiature Micro Switch, Reset Switches, Door interlock Switches, Others.
On the basis of country, North American market is divided into The U.S., Canada and Rest of North America. Similarly, Europe market is divided into The U.K., Germany, France and Rest of Europe. Asia Pacific has been segmented into China, Japan, India and Rest of Asia Pacific. Middle East and Africa covers the U.A.E., Saudi Arabia, South Africa and Rest of Middle East and Africa. Similarly, South American region includes Brazil and Rest of South America. This report provides all the essential information required to understand the automotive micro switch and its components. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the market. This report also provides the value chain analysis for the automotive micro switch market which explains the participants of the value chain.
Global Automotive Micro Switch Market: Competitive Dynamics
The report also highlights the competitive landscape of the automotive micro switch market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive automotive micro switch market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the automotive micro switch market’s growth.
Some of the key players engaged in automotive micro switches market include Alps Electric, C&K Components Inc., CAMSCO Electric Co. Ltd., Crouzet Automatismes SAS, Honeywell Sensing and Productivity Solutions, Johnson Electric Holdings Ltd., The APEM Group, Microprecision Electronics, OMRON Corporation, Knitter Switch, Panasonic Corporation, Salecom Electric Co. Ltd., TE Connectivity, TROX GmBH, ZF Electronics and Zippy Technology among others. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.