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According to the latest report by IMARC Group, titled “Accelerator Pedal Module Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global accelerator pedal module market size reached a volume of 390 Million Units in 2021. 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.
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 468 Million Units by 2027, registering at a CAGR of around 3% during 2022-2027.
Market Summary:
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