Automotive Pedals Market – Global Trend Scenario and Forecast Trends, Statistics, Dynamics, Segmentation and Forecast (2023-2029)

Automotive Pedals Market was valued at US$ 2.26 Bn. in 2022. Global Automotive Pedals Market size is estimated to grow at a CAGR of 4.48% over the forecast period.
Automotive Pedals Market Overview:
In passenger and commercial cars, automotive pedals are the system of control rods with foot rests that allow the driver to control acceleration, braking, and gear engagement. Steel, Aluminum, and Composite materials are used to make pedals.To know about the Research Methodology :- Request Free Sample Report
Automotive Pedals Market Dynamics:
The automobile pedals market is influenced by vehicle sales and the frequency with which the pedals are replaced. The global Automotive Pedals Market is expected to increase due to rising sales of electric vehicles in the passenger car and commercial vehicle segments. According to the International Organization of Motor Vehicle Manufacturers, 27 million commercial vehicles were sold in 2022 and 64 million passenger automobiles were sold.

OEMs have developed lightweight composites with the same tensile strength as steel pedals as a result of the increasing emphasis on weight reduction by vehicle makers in order to increase fuel efficiency. The usage of aluminum as a substitute for steel pedals in luxury vehicles helps to reduce weight, which is propelling the automotive pedal market forward. The use of aluminum brake and accelerator pedals has revolutionized the customization business, leading to the growth of the worldwide automobile pedal market.

Because almost every car has a pedal, the market for large car footswitches is expected to develop at a moderate rate over the next few decades. Furthermore, due to an increase in the installation of automated systems in automobiles, the annual growth of something like the automotive pedals market is likely to slow in the coming quarters. Additionally, the clutch pedal has been removed from automobiles due to the introduction of automated transmission systems. Furthermore, due to the deletion of all pedals in some of these autos, the arrival of autonomous vehicles is projected to have a detrimental influence on the manufacturing pedal sector. Steel is predicted to account for a large percentage of the automotive pedals market due to its high tensile strength and durability.

The automotive pedal industry is switching to aluminum alloys due to their lightweight. Furthermore, car manufacturers are currently reducing the weight of their vehicles in order to enhance fuel efficiency. The Asia Pacific is predicted to account for a significant portion of the worldwide automobile pedal market, owing to the continent's relatively high vehicle manufacturing. The presence of countries such as China and India in the region is a crucial factor in the country's large stake. Nonetheless, the country's automobile manufacturing sector is expected to be stymied by an increase in client demand for automated automobiles in the Asia Pacific. Another important market for automobile pedals in Europe, where the majority of residents choose manual gearboxes.
Automotive Pedals Market Segment Analysis:
Market Share of Automotive Pedals by Vehicle Type:

MMR has divided the automotive pedal market into three categories: passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. Over the next five years, the passenger car is likely to remain the largest segment of the market. The major elements underlying its domination include changes in consumer behavior, such as a preference for personal automobiles over public transportation, increasing motorization rate, and a relatively greater output of passenger cars than commercial vehicles. In the passenger automobile segment, the SUV is the most appealing body form.

Market Share of Automotive Pedals by Pedal Type:

The vehicle pedal market is divided into three categories: accelerator pedal, brake pedal, and clutch pedal. In the coming years, the accelerator pedal is expected to maintain its market domination. Metal accelerator pedals are manufactured using the casting and stamping processes, while composite accelerator pedals are manufactured using the injection molding technique. Brake Pedal segment holds 39% market share in 2022 owing to increasing vehicle halting needs and increasing technological adoption by key players in the market are the key factors driving the market growth. Technological adoptions including leaf technology by Nissan and new pedals material used by prominent players are the key factors driving the pedal segment.

Market Share of Automotive Pedals by Material Type:

Steel pedals, aluminum pedals, and composite pedals are the three types of materials used on the market. During the projected period, steel is expected to maintain its dominance, while composite is expected to develop at the fastest rate. Steel is the most commonly used material in all three types of pedals (accelerator, brake, and clutch), owing to its many advantages, including high yield strength, ductility, ease of manufacture, availability, and low cost.

Nissan E leaf: case Study:

At the present, Nissan looks to be teasing various features on a near-weekly basis. The latest innovation is the e-Pedal, which is described as a groundbreaking technology that will change the way we drive in the future, according to the manufacturer.

Technology will transform the new Leaf's accelerator into an e-Pedal that will allow the driver to accelerate, decelerate, and come to a complete stop with nothing more sophisticated than the flip of a button. Nissan's technology will be the world's first one-pedal vehicle operation system, allowing drivers to bring the vehicle to a complete stop, stay in position, and then resume driving instantly. It's estimated that the e-Pedal can fulfill up to 90% of driving needs, which is an intriguing and exciting proposal that could transform the way we interact with our automobiles. During city commutes and heavy traffic, the e-Pedal will drastically eliminate the need for the driver to shift from one pedal to the other, making driving simpler and more entertaining.

Of course, one-pedal driving isn't entirely new; the BMW i3 has excellent regeneration, allowing drivers to use largely one foot, and other EVs with braking modes have the same capability. The Nissan system, on the other hand, appears to push the notion further than we've seen thus far.
Automotive Pedals Market Regional Insights:
Over the next five years, Asia-Pacific is likely to continue to be the largest market. China, Japan, and India are the region's most important markets. In the next five years, China will continue its insurmountable advantage in the region. After the COVID-19 epidemic was contained, the Chinese car sector showed signs of rapid recovery. After resuming OEM and tier player manufacture, Japan and South Korea have also been rebounding. The greatest market for passenger cars and M&HCVs is Asia-Pacific, while North America is the workhorse for LCVs.

Economic downturns had already left their mark on new car production in the previous two years, causing the automobile industry to struggle. Even growing markets like China and India, which have a long way to go before reaching market saturation, saw a significant drop in vehicle manufacturing in the previous year. The year 2022 was expected to mend the wounds that automakers had suffered in 2022, but the breakout of COVID-19 has broken industry stakeholders' dreams and is causing a disturbing environment across regions. The automotive pedal market is primarily reliant on the automotive industry's organic growth and typically follows in the footsteps of automobile manufacturing.

The objective of the report is to present a comprehensive analysis of the global Automotive Pedals Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Automotive Pedals Market dynamic, structure by analyzing the market segments and projecting the Automotive Pedals Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Pedals Market make the report investor’s guide.
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Global Automotive Pedals Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.26 Bn.


Forecast Period 2023 to 2029 CAGR:
4.48%
Market Size in 2029:
US $ 3.08 Bn.


 Segments Covered:
by Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles


by Pedal Type
• Accelerator
• Brake
• Clutch


by Material
• Steel
• Aluminum
• Magnesium
• Plastic
• Others



Automotive Pedals Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Automotive Pedals Market, Key Players are:
• Continental AG (Germany)
• DENSO CORPORATION. (Japan)
• F.TECH Inc. (Japan)
• KSR International Inc. (UK)
• CTS Corporation (USA)
• Toyoda Iron Works (Japan)
• Shanghai Kaizhong Materials Science and Technology Co., Ltd. (China)
• Yorozu Corporation (Japan)
• Chiyoda Industries Co. Ltd. (Japan)
• Enoki Corporation (Japan)
• ZF Friedrichshafen AG (Germany)
• WocoIndustrietechnik GmbH (Germany)
• F&P America Mfg., Inc. (USA)
• Dura Automotive LLC. (India)

Frequently Asked Questions:

1. Which region has the largest share in Global Automotive Pedals Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Automotive Pedals Market?
Ans: The Global Automotive Pedals Market is growing at a CAGR of 4.48% during forecasting period 2023-2029.

3. What is scope of the Global Automotive Pedals Market report?
Ans: Global Automotive Pedals Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Automotive Pedals Market?
Ans: The important key players in the Global Automotive Pedals Market are – Continental AG (Germany), DENSO CORPORATION. (Japan), F.TECH Inc. (Japan), KSR International Inc. (UK), CTS Corporation (USA), Toyoda Iron Works (Japan), Shanghai Kaizhong Materials Science and Technology Co., Ltd. (China), Yorozu Corporation (Japan), Chiyoda Industries Co. Ltd. (Japan), Enoki Corporation (Japan), ZF Friedrichshafen AG (Germany), WocoIndustrietechnik GmbH (Germany), F&P America Mfg., Inc. (USA), and Dura Automotive LLC. (India)

5. What is the study period of this Market?
Ans: The Global Automotive Pedals Market is studied from 2022 to 2029.