Global Automotive Sensors Market to register a CAGR of 7.6% in terms of value du

Posted by ankush Nikam on June 6th, 2018

Future Market Insight’s newly published market report, “Automotive Sensors Market: Global Industry Analysis and Forecast, 2018-2028,” examines the Automotive Sensors market and offers crucial market insights for the next ten years. According to the report, the market is anticipated to witness increasing demand for advanced automotive sensor owing to focus toward regulation regarding vehicular exhaust emission as well as occupant’s safety. In terms of market growth, safety sensor sub-segment is anticipated to be the fastest growing market throughout the forecast period. It is anticipated to register a value CAGR of 9.9% during the forecast period (2018 – 2028). The estimated value of the global automotive sensor market in 2018 is US$ 18,896.7 Mn and is expected to expand at a CAGR of 7.6% in order to reach US$ 39,377.3 Mn by the end of 2028.

The Global Automotive Sensors market is estimated to be driven by expansion in automotive production. Increasing automotive production and vehicle parc is expected be a prime factor supplementing market growth. Prevalence of safety standard proliferates the demand for automotive sensors. Manufacturers of automotive sensor across prominent regions such as Western Europe and North America and some countries in Asia Pacific region are anticipated to have high demand for advanced automotive sensor owing to replacement/implementation of automotive sensors in aging vehicle. Increasing disposable income has increased the purchasing power of people across China, India, South East Asia and Pacific, which has translated to increase in vehicle parc in the region. Increase in population with respect to urbanization is anticipated to be a prominent factor to drive the growth of global automotive sensor market in the near future. Product development is expected to remain major focus for leading players in the maOn the other hand one of the major challenge faced by the automotive sensor manufacturers is the rising competition among local and international companies. The local players have a significant impact on the regional markets, this has resulted in price competitiveness and narrowing profit margins. Leading players in the market are observed using research & development as a major part of their strategy to launch new and innovative products.

On the basis of sensor type, safety sensor segment is anticipated to account for 31.4% of the market revenue by 2018. The segment is anticipated to witness healthy value CAGR growth of 8.9% over the forecast period. The ADAS sensor sub segment is expected to hold the major share in the safety sensor segment during the forecast period. The pressure sensor segment is estimated to be valued at US$ 1,985 Mn by end of 2018. Growing with a value CAGR of 7.3% the segment is expected to reach the value of US$ 4022.8 Mn by end of forecast period.

On the basis of regions, Western Europe followed by North America and China is anticipated to dominate the market both in terms and value and volume, upcoming stringent fuel efficiency, emission, safety and security norms in the region supports the growth of automotive sensor market.

Global Automotive Sensors Market competitive landscape

Some of the players reported in this study on the global Automotive Sensor market are Denso Corporation, Robert Bosch GmbH, Hella KGaA Hueck & Co., Continental AG, TE Connectivity, Sensata Technologies Holding N.V., Delphi Technologies PLC, NXP Semiconductors N.V. etc.

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