Global Accelerator Pedal Module Market to Reach 474.1 Million Units by 2028, Catalyzed by Strong R&D Capabilities

According to the latest report by IMARC Group, titled “Accelerator Pedal Module Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global accelerator pedal module market reached a volume of 401.7 Million Units in 2022. The accelerator-pedal module (APM) consists of the accelerator pedal and an angular-position sensor that combines the pedal with a dual output sensor for a drive-by-wire application. These sensors are used to detect the amount of pedal depression and transfer the signal to the engine control unit (ECU). The accelerator pedal module was earlier made with heavy metals; however, manufacturers are now incorporating lightweight materials, such as plastics, to attain structural stability at a low weight. Also, with advancements in technology, automakers have replaced mechanical pedals with electronic accelerator pedals to improve fuel economy.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Accelerator Pedal Module Market Trends:

With the rising environmental concerns, governments across the globe are implementing stringent regulations and encouraging the manufacturing and adoption of eco-friendly automobiles. Owing to this, manufacturers are developing lightweight components such as accelerator pedal modules, which reduce the overall weight of vehicles and increase their operational efficiency. For instance, Robert Bosch GmbH, introduced a new, topology-optimized design of accelerator pedal that helps in reducing up to 25% of weight at the same stability as compared to the former models. Moreover, with access to more advanced equipment, intense research and development (R&D) capabilities and modern technical expertise, several automotive manufacturers are now producing accelerator pedal sensors that transmit the position of the accelerator pedal to the ECU. These sensors control the engine to reduce exhaust emissions without hampering the driving performance. Looking forward, the market volume is projected to reach 474.1 Million Units by 2028, registering at a CAGR of 2.7% during 2023-2028.

Market Summary:

• Based on the pedal material, the market has been segmented into plastic and metal.
• The market has been segregated on the basis of the pedal type into floor mounted and suspended.
• On the basis of the vehicle type, the market has been classified into passenger and commercial vehicles.
• Based on the end user, the market has been bifurcated into OEM and aftermarket.
• Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
• The competitive landscape of the market has also been examined, with some of the key players being Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Hella KGaA Hueck & Co., United Automotive Electronic Systems Co. Ltd., F-TECH Inc., Aisan Industry Co. Ltd., Yorozu Corporation, Pacific Industrial Co. Ltd., Mikuni Corporation, Kyung Chang Industrial Co. Ltd., TT Electronics plc, Alfmeier Praezision SE, AIDA-America, Corp., AKITA KOGYO Co. Ltd., Bellsonica Corporation, Chiyoda Corporation, Chiyoda Kogyo Co., Ltd., Hanya Seisakusho Co. Ltd. and Kuroda Kagaku Co. Ltd.
   

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