Commercial Vehicle Switches and Relays Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Commercial Vehicle Switches and Relays Market is segmented by Switch Type (Knob, Lever, Button and Touchpad), Relay Type (PCB, High Voltage and others) and Geography.

Market Snapshot

Commercial Vehicle Switches and Relays Market_Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >7 %

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Market Overview

The Commercial Vehicle Switches and Relays Market is projected to grow with a CAGR of more than 7 % during the forecast period.

  • The market is primarily driven by the factors such as increase in electric and hybrid vehicle demands.
  • The trend for reduction of overall weight of the vehicle is also enhancing the demand for switches and relays for commercial vehicles and this also enhances the fuel efficiency of the vehicle.
  • However, there are many small local players present in the market which are providing switches and relays for commercial vehicles and are becoming an increasing concern for the major players and the industry.

Scope of the Report

The Commercial Vehicle Switches and Relay Market covers the latest trends and technological developments, demand by the switch type, relay type, geography and market share of major players.

Switch Type
Knob
Button
Touchpad
Lever
Relay Type
PCB
High Voltage
Others
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
United Arab Emirates
Other Countries

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Key Market Trends

Button Segment is Expected to Dominate the Market

By Switch type, Button segment is expected to dominate the market during the forecast period. The electric buttons have several applications in a commercial vehicle from operating aperture lighting to doors. These buttons are being used innovatively for newer operation as well. Furthermore, the regional transport office, in Pune India, has made compulsory for commercial vehicles to include a panic button during vehicle registration process. With the advancement in technology and electrification in vehicles, use of button in commercial vehicles are growing with a high rate, advancement in infotainment systems, push button for ignition on and off and others.

Commercial Vehicle Switches and Relays Market_Key Market Trend1

Asia-Pacific Expected to be the Largest Market

The Asia-Pacific region is expected to be the largest market for commercial vehicle switches and relays. The demand in the market is supported by the presence of big emerging economies in the region like China and India, where the activities like transportation of goods, construction activities etc. are on the rise which requires large numbers of commercial vehicles. The government in the region are spending heavily in construction of various bridges, malls and other public facilities which is enhancing the demand for commercial vehicles in the region. The government in the regions are also promoting the use of electric and hybrid vehicles and green fuel due to the increasing pollution levels in the region. China and India are introducing electric buses as part of public transportation. The enhances the demand for switches and relays in the region. The high demand from e-commerce sector in the region is also responsible for increase in demand for commercial vehicle in the region. Many big players like Amazon, Walmart and Alibaba are spending heavily in expanding their reach to rural parts of the country, which will again drive the demand for commercial vehicles. This will subsequently help the market for switches and relays.

Commercial Vehicle Switches and Relays Market_Key Market Trend2

Competitive Landscape

The Commercial Vehicle Switches and Relays Market is highly fragmented, with several players accounting for a smaller portion of market share. Some of the prominent companies in the commercial vehicle switches and relays market are Panasonic, Robert Bosch, TE Connectivity, Omron and others. These players are investing heavily in research and development of switches and relays for the commercial vehicles. For instance, in December 2018, Littlefuse Inc. has introduced heavy duty time delay relay which is ideal for construction, transit and heavy-duty trucks.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Switch Type

      1. 5.1.1 Knob

      2. 5.1.2 Button

      3. 5.1.3 Touchpad

      4. 5.1.4 Lever

    2. 5.2 Relay Type

      1. 5.2.1 PCB

      2. 5.2.2 High Voltage

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 United Arab Emirates

        4. 5.3.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Panasonic Corporation

      2. 6.2.2 Fujitsu

      3. 6.2.3 Robert Bosch GmbH

      4. 6.2.4 TE Connectivity

      5. 6.2.5 Omron Corporation

      6. 6.2.6 Littlefuse Inc.

      7. 6.2.7 Denso Corporation

      8. 6.2.8 Hella KgaA Hueck & Co.

      9. 6.2.9 Delphi Automotive plc

      10. 6.2.10 TRW Automotive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Commercial Vehicle Switches and Relays Market market is studied from 2018 - 2026.

The Commercial Vehicle Switches and Relays Market is growing at a CAGR of >7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Panasonic Corporation, Robert Bosch GmbH, TE Connectivity, Omron Corporation , Fujitsu Ltd. are the major companies operating in Commercial Vehicle Switches and Relays Market.

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