Azusa Engineering, Inc., Batz Group, Bellsonica Corporation, BRANO GROUP as, CJ Automotive – Stillwater Current
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Global Automotive Pedals Market The report published by Absolute Markets Insights provides a comprehensive analysis of the present and future scenario of the global market and presents the revenue and development status of the industry. The report explains various market growth factors such as size, share, demands, industry trends, market growth and opportunities. The study includes various strategies, market status, a future market scenario, and business development plans adopted by major key players. It also focuses on the driving factors of the Automotive Pedals market and keeps updates regarding the various growing tasks going on in the global market.
The automotive pedals market was estimated at US $ 1,545 million in 2020 and is expected to reach US $ 2,712.9 million by 2030, with a CAGR of 6.4% + during the forecast period in reason for the incorporation of repositioning of electronic pedals in automobiles, according to Absolute Markets Knowledge.
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Key players influencing the Automotive Pedals Market: Azusa Engineering, Inc., Batz Group, Bellsonica Corporation, BRANO GROUP as, CJ Automotive, CTS Corporation, FLEX-N-GATE CORPORATION, KSR International Co., MICO, Inc., Motherson Group, Orscheln Products, Strong Forge and Fabrication, LLC, among others.
The global automotive pedal market is expected to witness a significant increase with the growing demand for automobiles due to the incorporation of electronic pedal repositioning. Electronic pedal shifting involves the provision of an additional accelerator pedal on the left side of a driver’s cab floor. The accelerator pedal on the right remains fully functional. There is a switch in the center that allows the activation of the right or left accelerator pedal. It also includes safety electronics that prevent accidental switch while driving. For example, Mercedes Benz has added electronic pedal repositioning which allows the automotive pedal to be moved according to individual needs. In addition, the company has added pedal extensions to the automotive pedals to make it easier for the driver to access the automotive pedals. The pedal extension basically consists of extending the height of the pedal up to 10 centimeters. Mercedes Benz also introduced an additional accelerator pedal for added safety in the event of failure of the existing accelerator pedal. An electronic sensor is present which enables the other accelerator pedal to be activated. Rising adoption of electronic pedal repositioning in passenger vehicles is driving the global automotive pedal market.
Globally, increasing new auto sales and aftermarket demand for automotive pedals are increasing the size of the global market automotive pedal market. Conventional automotive pedals continue to gain traction in the market, due to various changes in pedal padding, pedal flexibility, improved pedal positioning, among others. The worldwide increase in the adoption of regenerative braking system in automobiles is increasing the demand for automotive pedals. For example, the American electric vehicle maker Tesla Inc. is deploying a regenerative braking system in its automotive pedals. In Tesla Model 3, the regenerative braking system helps charge the vehicle’s batteries by converting the kinetic energy generated by the automobile’s pedal into electrical energy. This process helps a vehicle save energy and store it for future needs, thus increasing the overall efficiency of the vehicle. Regenerative braking uses a specific automotive pedal for an energy saving process. Increased adoption of regenerative braking increasing demand for automotive pedals. Asia-Pacific is the world’s largest automotive market. Among the Asia-Pacific countries, China is not only the largest automotive market in Asia-Pacific, but also the largest market in the world. The increase in auto sales and production in China is increasing the demand for auto pedals.
The report covers key developments in the Automotive Pedals market as organic and inorganic growth strategies. Various companies focus on organic growth strategies such as launches, product approvals and others such as patents and events. The inorganic growth strategy activities observed in the market were acquisitions, partnerships and collaborations. These activities paved the way for the expansion of the business and customer base of market players. Market players are expected to seize lucrative growth opportunities in the future with the increasing demand for the Automotive Pedals market in the global market. The report also provides exhaustive PEST analysis for all regions considered in the Global Automotive Pedals Market report.
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The study categorized the market into segments including product type, application, etc. Each segment is evaluated based on share and growth rate. Meanwhile, analysts looked at potential areas that could prove rewarding for builders in the years to come. The regional analysis includes reliable forecast on value and volume, thereby helping market players to gain in-depth insights across the industry. In addition to the segmental breakdown, the report is highly structured into a regional study. The researchers’ regional analysis highlights key regions and their dominant countries accounting for a substantial share of the revenue in the Automotive Pedals Market. The study helps to understand how the market will perform in the respective region while also mentioning the emerging regions which are growing with a significant CAGR.
Objectives of the study of this report:
- Detailed market overview.
- Changing industry market dynamics.
- In-depth market segmentation by type, application etc.
- Historical, current and projected market size in terms of volume and value.
- Recent industry trends and developments.
- Competitive market landscape.
- Strategies of key players and product offerings.
- Potential and niche segments / regions showing promising growth.
- A neutral perspective on market performance.
- Information for market players to sustain and strengthen their footprint.
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Global Automotive Pedals Market:
By type of pedal
By vehicle type
- Light commercial vehicle (LCV)
- Heavy Utility Vehicle (HCV)
- Cars
By material
- Steel
- Magnesium
- Aluminum
- Plastic
- Others
By region:
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- Middle East and Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]
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