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    Automotive Pedal Market | Covid-19 Impact Analysis

    Automotive Pedal Market | Covid-19 Impact Analysis

    Automotive Pedal Market | Covid-19 Impact Analysis
    Report code - SRTI139 Published On : Jul,2020 No. of Pages: 239
    Automotive Pedal Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-202 See more...
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    Impact of COVID-19 on Automotive Pedal Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Automotive Pedal Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

     

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive pedal market realities and future market possibilities for the forecast period of 2020 to 2025. After a continuous interest in our automotive suspension systems market, automotive leaf spring market, and automotive shift-by-wire systems market reports, we have come up with another comprehensive study on the automotive industry on the pedal market.  The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for automotive pedals at the global, regional, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies. 

    Automotive Pedal Market: Highlights

    The automotive industry had already been struggling in the past two years with economic downturns imprinting its mark in new vehicle production. Even emerging economies, such as China and India, which have a long road for market saturation, have recorded a remarkable dip in their vehicle production in the previous year. The year 2020 was likely to heal the wounds faced by automakers in 2019, but the outbreak of COVID-19 shattered the hopes of the industry stakeholders and is creating a distressed environment with its prolonged impact across regions.  The automotive pedal market is highly dependent on the organic growth of the automotive industry and usually follows the footsteps of automotive production.

    The downturn of COVID-19 pandemic is severer than that caused by The Great Recession (2008-2009) (Automotive production’s plummet during the Great Recession: -12.1% YoY 2008-2009 and The Great Lockdown: -22% YoY 2019-2020). Also, unemployment rates have exponentially increased across the world, due to a shrinking economy, a clear sign of lower demand for new vehicles. Loss of confidence of households and businesses amid the COVD-19 crisis is already evident across regions and is leading to the postponement of high-ticket purchases, depressing the automotive industry to a great extent.

    At this moment, assessing the real impact of the pandemic on the automotive pedal market in the short-term as well as long-term is an extremely challenging task. The pandemic is still spreading, taking the major economies in its grip and deteriorating the market conditions being the automotive industry one of the biggest victims of it. It is difficult to state that when the pandemic would start to fade away. However, based on interviews conducted with the leading market stakeholders coupled with the past industry trends (The Great Recession) suggest that the automotive pedal market is likely to witness recovery from 2021 onwards, with automotive pedal sales reaching close to US$ 2-billion-mark in 2025.

    Stratview Research has firstly segmented the automotive pedal market based on the vehicle type as passenger car, LCV, and M&HCV. Passenger car is expected to remain the largest segment of the market over the next five years. Change in consumer behavior with the preference of personal vehicles over public transport, increasing motorization rate, and reasonably higher production of passenger cars than commercial vehicles are the key factors behind its dominance. SUV is the most attractive body type in the passenger car category.

    Based on the pedal type, the automotive pedal market is segmented as accelerator pedal, brake pedal, and clutch pedal. Accelerator pedal is estimated to maintain its dominance in the market in the years to come. The casting and stamping processes are used for the manufacturing of metal accelerator pedals, whereas the injection molding process is used for the fabrication of composite accelerator pedal.

    Based on the material type, the market is segmented as steel pedal, aluminum pedal, and composite pedal. Steel is likely to maintain its dominance during the forecast period, whereas composite is expected to grow at the highest rate during the same period. Steel is the predominantly used material type in all three pedal types (accelerator, brake, and clutch pedal), driven by its several advantages such as high yield strength, high ductility, easily manufactured, easy availability, and low cost.

    In terms of regions, Asia-Pacific is expected to remain the largest market over the next five years. China, Japan, and India are the leading markets in the region. China to maintain its unassailable lead in the region in the coming five years. The Chinese automotive industry reflected a speedy recovery after the control of the COVID-19 outbreak. Japan and South Korea have also been recovering after resuming the production of OEMs and tier players. Asia-Pacific is the largest market for passenger car and M&HCV, whereas North America is the workhorse for LCVs.

    The supply chain of this market comprises raw material suppliers, automotive pedal manufacturers, tier players, distributors, and automotive OEMs. The key automotive pedal manufacturers are F.TECH Inc., KSR International Inc., CTS Corporation, Toyoda Iron Works, Shanghai Kaizhong Materials Science and Technology Co., Ltd., Yorozu Corporation, Chiyoda Industries Co. Ltd., Enoki Corporation, ZF Friedrichshafen AG, Woco Industrietechnik GmbH, F&P America Mfg., Inc., and Dura Automotive LLC.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. More than 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market forecast analysis
    • Market segment forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    The automotive pedal market is segmented into the following categories. 

    Automotive Pedal Market, By Vehicle Type

    • Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • LCV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • M&CV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Pedal Market, By Pedal Type

    • Accelerator Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Brake Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Clutch Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Pedal Market, By Material Type

    • Steel Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aluminum Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Composite Pedal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Pedal Market, By Manufacturing Process Type

    • Stamping (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Casting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Pedal Market, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and RoE)
    • Asia-Pacific (Country Analysis: Japan, China, South Korea, India, and RoAP)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segment

    • Current market size (2019) of automotive pedals in any of the pedal type by material type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, and regional presence.

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].


    A birds eye view of the Automotive Pedal Market

    What will be the size of the Automotive Pedal Market in the foreseeable years?

    Driven by a number of factors like organic growth in automobile production owing to increasing disposable income and growing urbanization, the automotive pedal market size is projected to reach an estimated value of US$ 1,993.5 billion in 2025.

    Which country/region is expected to be the largest Automotive Pedal Market?

    Asia-Pacific is expected to remain the largest automotive pedal market during the forecast period, driven by high production of vehicles to meet the rising indigenous demand and increasing export.

    Which type of material is expected to remain dominant?

    Steel is expected to remain the dominant material type in the market during the forecast period.

    Who are the key players in the Automotive Pedal Market?

    F-Tech, KSR International, CTS Corporation, Toyoda Iron Works, Shanghai Kaizhong Material Science & Technology, Batz, S. Coop., and Bellsonica Corporation. are among the key players in the Automotive Pedal Market.

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