The global automotive reed switches/sensors market is expected to register a CAGR of 5.87%, during the forecast period, 2019-2024.
- Technological advancements in the sensor and switch technology have resulted in advanced, miniature and highly reliable reed switches, acting as a driver for the employment of these switches in the automotive industry.
- Changing consumer preferences for safer driving experience have also forced the manufacturers to seek better safety sensors like pedal angle sensors, ABS and EBS.
- Reliability and durability are challenges for reed switch users. Reed switches have several inherent disadvantages, including susceptibility to breakage issues during installation, and its susceptibility to shock or vibration applications, lower durability, a limited life due to the mechanical nature of the switch, as well as issues due to the contact bounce. When leads on the reed switches are soldered into the circuit, they bend significantly, and this can easily crack the glass enclosure of the switch, making the switch unusable. Reed switch manufacturers, therefore, carefully provides specific installation instructions in order to limit this breakage.
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Scope of the Report
The reed switch is an electrical switch operated by an applied magnetic field. It consists of a pair of contacts on ferrous metal reeds in an airtight glass envelope. The contacts are normally open, making no electrical contact. The switch is actuated (closed) by bringing a magnet near the switch. All areas of typical automotive systems incorporate low-profile, zero power consumption reed switch sensors to help them operate reliably and safely. Reed switch is used to support various automotive applications such as Speedometer, Power window operation, Infotainment, and in-vehicle navigation centers, Side and rearview mirrors, Cruise control and power steering, Door and door lock actuation, etc. The aforementioned features of automotive reed switches/sensors have been considered in the scope of the market.
The automotive reed switches/sensors market has been segmented by application, by vehicle type and geography.
Key Market Trends
Safety Systems to Witness High Demand for Reed Switches/Sensors
Reed sensors have been used as an effective passive safety system to alert the driver. Reed sensors for early brake sensing is one of the major and common usages of automotive reed sensors as mechanisms to alert drivers about possible collision or accident during application of brakes.
With the rise in a number of accidents at the global level, the demand for safety features has been increasing, especially in the mid-level vehicles. Additionally, with an aim to reduce the number of accidents and to enhance consumer’s safety, many countries across the globe have introduced safety norms in the automotive industry. For instance,
- The Indian government, in February 2017, made it mandatory for all cars and mini-buses to install anti-lock braking system (ABS) by April 2019.
- Additionally, In July 2018, Hyundai Motor India Ltd (HMIL) announced its Sriperumbudur-based manufacturing plant to be ready to meet the safety and emission norms, well in advance before its mandatory industry implementation in 2019.
- All the models to be manufactured in Chennai plant may be equipped to meet the BS VI technology, along with the car and pedestrian safety norms, as well as airbags, and ABS as a standard.
Above such trends across the globe is likely to drive demand for reed sensors/switches for vehicle safety systems during the forecast period.
Asia-Pacific Continues to Capture Major Market Share
The growing automobile sector in the Asia-Pacific region, with India and China emerging as automotive part manufacture hubs for the western automobile giants, is expected to drive the market for reed switches in this region.
Over the past couple of years, the reed switch market in the Asia-Pacific region has grown rapidly, with a global share of around 35%, followed by North America and Europe. In a nutshell, automobile makers are now focusing on sourcing for more reliable sensors, like that of reed switches that are also economically feasible.
Competitive Landscape
The automotive reed switches/sensors market is highly fragmented due to the presence of many regional players. However, some of the major players, like Continental AG, Standex International Corp, Littelfuse Inc, PIC GmbH, etc., have captured significant shares in the market.
Making the existing switches smaller, better and durable has become the current agenda of reed switch manufacturers and these developments
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Table of Contents
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application Type
5.1.1 Cruise Control
5.1.2 Infotainment Systems
5.1.3 Safety Systems
5.1.4 Others
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 South Africa
5.3.4.3 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 Aleph America Corporation
6.2.2 Coto Technology
6.2.3 SMC Corporation of America
6.2.4 TE Connectivity Ltd.
6.2.5 Littelfuse, Inc
6.2.6 Continental AG
6.2.7 Reed Relays and Electronics India Limited
6.2.8 Standex International Corp.
6.2.9 PIC GmbH
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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Market size by End User
Rest of Central & South America
The study objectives of this report are:
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