The automotive pedals market size is expected to see steady growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to shift towards electric and autonomous vehicles, integration of advanced sensor technologies, focus on lightweight materials, ergonomic design for driver comfort, customization and aesthetic preferences. Major trends in the forecast period include development of smart pedals with sensor integration, introduction of brake-by-wire systems, focus on lightweight and ergonomic pedal designs, adoption of adjustable pedal systems, integration of biometric sensors in accelerator pedals..
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Scope Of Automotive Pedals Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Pedals Market Overview
Market Drivers –
The increasing demand for commercial vehicles is expected to propel the growth of the automotive pedals market going forward. Commercial vehicles are automobiles primarily used for business purposes, such as transporting goods or passengers for profit. Automotive pedals are essential components in commercial vehicles as they facilitate control over acceleration, braking, and clutch functions for safe and efficient operation. For instance, in July 2023, according to the European Automobile Manufacturers Association, a Belgium-based professional body representing the interests of European car, truck, and bus manufacturers, new commercial vehicle registrations in the European Union (EU) were up 11.2% (730,969) for vans, 20% (179,508) for trucks, and 15% (14,781) for buses in the first half of 2023 compared to 657,180 vans, 149,595 trucks, and 12,857 buses in the first half of 2022. Therefore, increasing demand for commercial vehicles is driving the growth of the automotive pedals market.
Market Trends –
Major companies operating in the automotive pedals market are focused on developing new automotive pedals for regenerative braking force and to gain a competitive edge in the market. Single-pedal technology streamlines vehicle operation by simplifying acceleration and braking with one pedal. For instance, in July 2021, Toyota Motor Corporation, a Japan-based automotive manufacturer, introduced the Comfort Pedal, a single pedal used for both acceleration and braking, for their newly launched hybrid-only Aqua model. By choosing Power+ Mode, drivers have the ability to produce regenerative braking force by easing off the pressure on the accelerator pedal. This action results in a gradual deceleration of the vehicle. The Comfort Pedal reduces the burden on drivers by decreasing the frequency at which they need to press the accelerator and brake pedals. Comfort Pedal and Power+ Mode are also equipped for all grades, excluding B.
The automotive pedals market covered in this report is segmented –
1) By Pedal Type: Accelerator, Brake, Clutch
2) By Material: Steel, Aluminum, Magnesium, Plastic, Other Materials
3) By Application: Passenger Cars, Commercial Vehicles
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Regional Insights –
Asia-Pacific was the largest region in the automotive pedals market in 2023. The regions covered in the automotive pedals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive pedals market report are Mercedes-Benz Group AG, Honda Motor Co. Ltd., Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Continental AG, Faurecia SE, Lear Corporation, Samvardhana Motherson International Ltd., Knorr-Bremse AG, HL Mando Corporation, Toyoda Iron Works Co. Ltd., Pacific Industrial Co. Ltd., F.TECH Inc., Yorozu Corporation, Dura Automotive LLC, Mikuni Corporation, CTS Corporation, Shanghai Kaizhong Materials Science and Technology Co. Ltd., Kyung Chang Industrial Co. Ltd., Brano Group A.S., KSR International Inc., BATZ S. COOP. LTDA, F&P America Mfg. Inc., CJ Automotive AB, Bellsonica Corporation
Table of Contents
1. Executive Summary
2. Automotive Pedals Market Report Structure
3. Automotive Pedals Market Trends And Strategies
4. Automotive Pedals Market – Macro Economic Scenario
5. Automotive Pedals Market Size And Growth
…..
27. Automotive Pedals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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