Industry Background:
Automotive ignition switch, alternatively known as starter switch is used to activate the main electrical system for automotive which aids in starting the vehicles. Also, it powers various accessories such as power windows, and music players. Asia Pacific holds the major market share currently followed by Europe. With the recent advent of touch-pad ignition system, the automotive ignition switch market is expected to grow with a significant growth rate during forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Omron (Japan), Bosch (German), Tokai Rika (Japan), ACDelco (United States), Aptiv Plc (Ireland), Leopold Kostal (Germany) and Standard Motor (United States) |
This growth is primarily driven by Growing Trend of Autonomous and Connected Vehicle and Introduction of Software Based Features in Automotive to Start the Vehicle.
Globally, a noticeable market trend is evident Growing Demand for Safety and Security in Automotive Ignition Switch System by End-users Side The Auto Parts & Equipment sector in the Asia Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Omron (Japan), Bosch (German), Tokai Rika (Japan), ACDelco (United States), Aptiv Plc (Ireland), Leopold Kostal (Germany) and Standard Motor (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Automotive Ignition Switch is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Key Developments in the Market:
In October 2019, Nidec Corporation announced that, pursuant to a stock purchase agreement entered into between the company and OMRON, the company would acquire OMRON Automotive Electronics Co. from OMRON Corporation. Ltd. announced the completion of the acquisition. At the same time, Nidec acquired another set. OMRON's subsidiary, OMRON AUTOMOTIVE ELECTRONICS de Mexico, S. de R.L. de C.V. and OMRON COMPONENTES AUTOMOTIVOS LTDA., collectively referred to as "Target Overseas Subsidiaries". An overview of OMRON Automotive Electronics, its subsidiaries, and target overseas subsidiaries is set out in the "Overview of Major Acquired Companies".
In September 2022, Aptiv PLC, a global technology company focused on making mobility safer, greener, and more connected, signed a definitive agreement to acquire an 85% stake in Intercable Automotive Solutions, a subsidiary of Intercable S.r.l., for €595 million. announced. adjustments after customary deadlines.
Influencing Trend:
Growing Demand for Safety and Security in Automotive Ignition Switch System by End-users Side
Market Growth Drivers:
Growing Trend of Autonomous and Connected Vehicle and Introduction of Software Based Features in Automotive to Start the Vehicle
Challenges:
Debilitating Semiconductor Shortages to Acute Labor Shortages
Restraints:
High Cost of Smart Automotive Ignition System and Issues Related with Security of Technically Advanced Automotive Ignition Switch System
Opportunities:
Rising Sales of Automobiles in Asia Pacific Countries and Growing Demand for Touch-based Automotive Ignition Switch System
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Ignition Switch Market
- Analysis about New Entrants in Automotive Ignition Switch Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Ignition Switch Study Sheds Light on
The Automotive Ignition Switch Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Ignition Switch industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Ignition Switch industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.