Market Research Report
Global Automotive Power Window Switch Market - 2020-2027
|Published by||DataM Intelligence||Product code||998072|
|Published||Pre-Order||Content info||180 Pages
Delivery time: 2 business days
|Global Automotive Power Window Switch Market - 2020-2027|
|Published: Pre-Order||Content info: 180 Pages||
An automotive power window is a type of electronic window system which is used for raising and lowering the windows of an automobile with the help of electronic switches which are integrated with power window system. Automotive power windows are an important part of any luxury and premium automobile that increase the comfort level of the driver as well as passengers.
The global automotive power window switch market size was worth US$ XX billion in 2019 and further expected to reach US$ XX billion by 2027, at a CAGR of X% during the forecast period (2020-2027).
Nowadays, all well-known manufacturers of automobiles are adopting technology into their vehicles so as to provide ease of comfort to the driver as well as passengers. Furthermore, in commercial vehicles, automobile OEMs are also delivering power windows in mid-range vehicles. Moreover, the growth of the global market for automotive power windows is increasing with the arrival of new technologies and innovations.
Adoption of advanced technologies.
The adoption of advanced technologies towards automation is anticipated to be one of the most important growth drivers of the global automotive power window market. Moreover, most passenger cars use power windows for security and safety purposes. Also, these windows are operated through different switches, and therefore, this makes the operation easy and comfortable for the passengers and as well as for the driver.
The increase in the growth of the transportation sector
The growth of the transportation sector has consumed non-renewable petroleum reserves which has lead to the rise in fuel prices. This will be very exponential in the near future, since crude oil reserves will get reduced which will lead to higher demand, paving the way for a rise in the number of vehicles running on alternate energy sources. Also, this factor is expected to impact the sales of new conventional vehicles, which is expected to hinder the growth of the overall automotive power window market.
Moreover, the rising prices and the use of petroleum products as fuel in the automotive sector is increasing day by day. As a result of this, to decrease this global consumption, manufacturers and governments are promoting sources such as hyper-loops, metros, electric vehicles, etc., which are far more fuel efficient as compared to conventional automobiles. Therefore, this factor is expected to affect the sales of automobiles, which will affect the growth of the automotive power window market.
COVID-19 Impact Analysis
The COVID-19 pandemic had impacted the globally integrated automotive industry which includes disruption in large scale manufacturing interruptions across Europe, Chinese parts exports and the closure of plants in the U.S. This had placed intense pressure on an industry which was already coping with a downshift in global demand. COVID-19 had impacted all stakeholders in the value chain who has experienced both short term and long term impact. Moreover, COVID-19 has also led to the shortage of raw material, shifting the production to other countries, liquidity, deferred launches, crunch to delays in availability of models and shrinkage in consumer demand. Consumer demand had decreased substantially as disposable income has decreased.
Based on the vehicle type, global automotive power window switch market has been classified into light commercial vehicles (LCVs), passenger cars, heavy commercial vehicles (HCVs).
Passenger Cars Segment Accounted For The Highest Share In The Global Automotive Power Window Switch Market
The passenger cars market is generally influenced by the distribution of wealth within a country or region and serves as a good indicator when it comes to financial stability. Moreover, from an international perspective it is observed that most revenue will be generated in China, thus propelling the segmemt growth. HCVs continue to be dominant in the market, with a, market share of 63%. Also, the annual growth rate for the truck market globally is projected to be 3.1% for MCV and HCV sales from 2014 to 2024.
On the basis of sales channel, the global automotive power window switch market has been classified into aftermarket and original equipment market.
The automotive aftermarket includes the, distribution, retailing, manufacturing and installation of all the chemicals, vehicle parts, equipment and accessories. The rising demand for the connected vehicles is going to be a key driver behind the growth in this segment. OEMs comprise vehicle manufacturers, such as, General Motors, BMW Motorrad and Volkswagen AG. Furthermore, The OEM segment held the dominant market share in 2019, as most of the electronic components are integrated during the vehicle manufacturing stage. Since the electronic components offered by the OEMs are highly durable, the segment is estimated to expand at a significant CAGR over the forecast period.
On the basis of geography, the study analyzes the automotive power window switch market in the global market including, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Abundant Demand For Automobiles In Developed Regions Such As Western Europe And North America
In regions such as North America, there is a substantial demand for automobiles. Governments and ruling authorities in such regions have imposed stringent regulations regarding the safety of passengers. This factor is anticipated to increase the demand for power windows in the global market. Moreover, the rising spending power of the middle-class population in the developing countries of Asia Pacific, such as China, along with the rising demand for premium models of automobiles, is another factor that is anticipated to fuel the growth of the automotive power window market over the forecast period. The rising demand for premium cars in the Middle East is expected to drive the growth of the automotive power window market. Eastern Europe and Latin America are also estimated to grow at moderate growth rates over the period, due to a rise in automobile sales across these regions.
The key global automotive power window switch market players contributing to the global market's growth include Hilti Corporation, Aisin Seiki, Antolin, Continental AG, Delphi Automotive, Denso Corporation, HI-LEX, Johnson electric, Magna International, Mitsuba Corp., Robert Bosch GmbH, Valeo and others.
Aisin Seiki Co., Ltd. also known as Aisin, is a Japanese organization which develops and produces components and systems for the automotive industry. It is a Fortune Global 500 company which is ranked 329 on the 2018 rankings. It is 51% owned by the Toyota Group of companies.
It was founded in 1949 and offers drivetrain, body and chassis, supplies engine aftermarket, and other main automotive parts for major OEMs. Also, partaking in the automotive markets, it also offers life and amenity products (e.g., furniture and sewing machines), energy systems, welfare products, and other products/services. Company has recently developed Ultra-Small EV Drive Unit Newly Developed and Mounted in Toyota "C+pod". Also, the group offers a wide lineup of products covering almost every automobile-related field, which includes chassis & vehicle safety systems, powertrain, body and ICT & electronics related products.
Product Portfolio: The Company's portfolio comprises of automotive power window switch and related automotive products.
The Global Automotive Power Window Switch Market report would provide access to an approx. 53 market data table, 44 figures and 240 pages.
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