New Revenue Pockets : Automotive Switches Market
Asia-Oceania to be the Potential Market in the Near Future
Asia-Oceania has been the major hub for the global automobile original equipment manufacturers (OEMs) for setting up manufacturing facilities. Automobile giants such as Volkswagen, Fiat Chrysler Automobiles, General Motors, and Ford Motor Company, have already set up manufacturing plants in different parts of this region. Along with these OEMs, there are Tier-I and Tier-II suppliers that have started manufacturing switches in this region. Various automotive switches manufacturers such as Panasonic Corporation (Japan), Alps Electric Co., Ltd. (Japan), Omron Corporation (Japan), and Tokai Rika Co. Ltd. (Japan) are based in the Asia-Oceania region and many more companies are planning to expand their manufacturing facilities in this region. Increasing vehicle production plays a crucial role in the growth of automotive switches market in this region.
North America: Significant Growth In Automotive Switches
The North American region is a sophisticated market in terms of technology. Most of the automobile manufacturers such as Volkswagen, Ford Motor Company, and BMW AG have manufacturing plants in this region. On the other hand, since past couple of years, the RoW region has become a potential market for automobile manufacturers, as this region offers the same quality of manufacturing at a reduced cost as compared to regions such as North America and Europe. The growth rate for automotive switches in the RoW region would be higher than that of North America in coming years, given the cheap labor and land availability in this region. Increasing vehicle production has triggered the demand for switches.
Related Reports:
Automotive Switches Market by Type (Knob, Lever, Button & Touchpad), Automotive Application (HVAC, Indicator, Electronic, Engine Management & Other Systems), and Region (North America, Europe, Asia-Oceania, & RoW) - Global Trends and Forecast to 2019
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