Global Automotive Wheel Speed Sensor Market was valued US$ 6.4Bn in 2019 and is expected to reach US$ 8.5Bn by 2027 at a CAGR of 3.61% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Increase in adoption of anti-lock braking system in vehicles and strict Government mandates for minimum stoppages distance are the key factors for the growth of global automotive wheel speed sensor market.Also increase in automotive sales across the globe helps to boost the global automotive wheel speed sensor market. Increase in penetration of electric vehicles across the globe and rise in demand for autonomous vehicles provides opportunities for the market. On the other hand high cost of automotive wheel speed sensor restrain the market.
By sensor Type, active segment accounted for more than three-fourth of the total market in 2017 and is expected to dominate throughout the forecast period. This is because of its property Hall Effect principle, true zero speed capability, and precise switch point measurement that helps in reading accurate wheel movement even when the vehicle is not in motion. On the other hand, the passive segment is expected to be the fastest growing sector, growing at a CAGR of XX% during 2018–2026.
Based on vehicle Sensor Type, passenger vehicle contributed to nearly three-fourth of the total market in 2017 and is estimated to maintain its top status during the forecast period. Cumulative sales, growing disposable income, and compulsion of ABS system in passenger vehicles have increased the growth for the automotive wheel speed sensors market. Simultaneously, commercial vehicle has come up as the fastest growing segment, registering a CAGR of XX% during the forecast period.
By region, Asia-Pacific held the largest market share in 2017 and turned out to be dominant throughout the forecast period. Increasing government support for the automotive industry, rapid industrialization, and constant focus on developing newer products to meet diverse changes in consumer demands in the region have influenced the growth. Also, the province has showcased a CAGR of XX% throughout the forecast period and has been cited as the fastest growing region.
Major industry participant like Bosch focus on research and development to ensure product differentiation. The company’s R&D efforts have focused on development of efficient methods for ensuring reliability, precise 3D environment recognition, and securing the electronics architecture through constant plausibility checks on the data supplied. Other importantcompanies like First Sensor AG, Hitachi Metal provide products that cater to a wide range of applications like body electronics, chassis and safety, etc.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by Product, End User and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Wheel Speed Sensor Market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Global Automotive Wheel Speed Sensor Market, By Sensor Type
Global Automotive Wheel Speed Sensor Market, By Vehicle Type
• Passenger Sensor Type
• Commercial Vehicle
Global Automotive Wheel Speed Sensor Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Automotive Wheel Speed Sensor Market
• Robert Bosch GmbH
• Continental AG
• Denso Corporation
• ZF Friedrichshafen AG
• HELLA KGaA
• Delphi Automotive PLC
• NXP Semiconductors N.V
• First Sensor AG
• Hitachi Metal
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