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    Automotive Pedal Market Report

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

    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 chain. 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.

    Market Insights

    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.

    Segments' Analysis

    Automotive-Pedal-Market-Dominant-Segments

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    Automotive Pedal Market Share by Vehicle Type

    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.

    Automotive Pedal Market Share by Pedal Type

    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.

    Automotive Pedal Market Share by Material Type

    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.

    Regional Insights

    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.

    Automotive-Pedal-Market-By-Region

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    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2014-2025

    Size in 2025

    US$ 1,993.5 billion

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, The UK, Italy, Russia, Japan, China, South Korea, India, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

                                                                                       

    The automotive pedal market is segmented into the following categories.

    Automotive Pedal Market Size Share & Forecast, 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 Size Share & Forecast, 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 Size Share & Forecast, 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 Size Share & Forecast, 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 Size Share & Forecast, 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)