Transparency Market Research
Automotive pedals are located in the driver cabin of the vehicle, beneath the dashboard, for operating the brake, accelerator, and clutch of the vehicle. Pedals are further connected to the respective systems in order to actuate those systems as desired. Stepping on the installed pedals actuates the systems. For instance, if the brake pedal is pressed, brakes are applied; likewise, if the accelerator pedal is pressed, the vehicle accelerates.
The global automotive pedals market are likely to expand at a moderate pace during the forecast period, as almost all vehicles contain automotive pedals. Moreover, the growth rate of the automotive pedals market is anticipated to slow down during the forecast period, owing to the rise in incorporation of automatic systems in vehicles. Furthermore, the arrival of automatic transmission systems has removed the clutch pedal from vehicles. Additionally, the arrival of autonomous vehicles is anticipated to hamper the automotive pedals market owing to the removal of all the pedal from these vehicles.
The global automotive pedals market can be segmented based on material, sales channel, vehicle type, and region. Based on material, the steel segment is anticipated to hold a prominent share of the automotive pedals market owing to its high tensile strength and lifespan; however, it possess high density. Hence, the automotive pedals market is shifting toward aluminum alloys due to its light weight. Moreover, vehicle manufacturers are continuously reducing the weight of their vehicles in order to enhance the efficiency of vehicles.
Based on the sales channel, the OEM segment is expected to dominate the automotive pedals market, as pedals in most vehicles remain unchanged throughout the life of the vehicle; however, some people prefer customization of their pedals due to their driving habits. Thus, despite being a relatively small segment, the aftermarket segment is expanding at a considerable pace due to rising trend of customization of vehicles.
In terms of vehicle type, the passenger vehicle segment is anticipated to account for a prominent share of automotive pedals market owing to the higher production of passenger vehicles. However, the rate of adoption of automation for passenger vehicles is considerably high, which is likely to cause sluggish expansion of the passenger vehicle segment. Rising production of commercial vehicles is likely to boost the commercial vehicle segment during the forecast period.
In terms of region, Asia Pacific is likely to hold a notable share of the global automotive pedal market owing to significantly high production of vehicles in the region. Presence of countries such as China and India in the region is a major factor attributed to the notable share of the region. However, increase in preference of consumers in Asia Pacific toward automatic vehicles is expected to hamper the automotive pedals market in the region. Europe is another major market for automotive pedal, and most people in the region prefer manual transmission vehicles over automatic transmission vehicles. Therefore, the automotive pedals market in the region is likely to expand at a significant pace during the forecast period.
Key players involved into manufacturing of automotive pedals include KSR International Co., novel.de, WABCO, CJ Automotive, CTS, BRANO GROUP a.s., F&P Mfg. Inc., and Samvardhana Motherson Group.
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