Overview and Scope
Automotive pedals are foot-operated controls in vehicles that enable the driver to manage acceleration, braking, and clutch engagement (in manual transmissions). These essential components are positioned on the floor of the driver’s side and play a crucial role in controlling the vehicle’s speed and movement.
Sizing and Forecast
The automotive pedals market size has grown strongly in recent years. It will grow from $2.27 billion in 2023 to $2.41 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to automotive industry growth, increasing vehicle production, consumer preferences for manual transmission, replacement and aftermarket sales, globalization of automotive supply chains..
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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</b
The automotive pedals market report table of contents includes:
1. Executive Summary
2. Automotive Pedals Market Characteristics
3. Automotive Pedals Market Trends And Strategies
4. Automotive Pedals Market – Macro Economic Scenario
5. Global Automotive Pedals Market Size and Growth
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32. Global Automotive Pedals Market Competitive Benchmarking
33. Global Automotive Pedals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Pedals Market
35. Automotive Pedals Market Future Outlook and Potential Analysis
36. Appendix
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