Automotive Sensor Market to Grow at a CAGR Of 14.97% till 2020

2024-04-25 06:01:01 Automotive

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The Report Automotive Sensors Market Analysis By Type (Pressure, Temperature, Speed, Oxygen, NOx, Position); By Application (Fuel Injection & Emission, Chassis, Engine, Powertrain, Safety, Telematics); By Vehicle Type - With Forecast (2015 2020), published by IndustryARC, the market to reach $17.08 Billion by 2020.

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Sensors are a type of transducers which detect the difference in its environment due to mechanical change and transfer it as electric signal to the concerned component. Sensors are installed in vehicles to ensure reliability and safety of the passenger. The market for Automotive Sensors has been classified as pressure sensors, temperature sensors, level sensors, oxygen sensors, NOx sensors, safety sensors and more; these sensors are used in cars, trucks, buses and two-wheelers. The most widely used sensors are the position sensors and pressure sensors. Sensors such as pressure sensors, position sensors, temperature sensors, speed sensors, MEMS sensors and others majorly find application in powertrain. Apart from powertrain, the sensors find application in engine, fuel injection and emission system, chassis, safety & control, vehicle security and a few others too.

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The Global Market for Automotive Sensors is estimated to reach $17.08 Billion by 2020 growing at a CAGR of 14.97%. The major application in terms of volume will be of Safety Sensors; increasing concern for passenger safety will further drive the demand for Safety Sensors in Automotive Industry. The Market for Safety & Control Sensors is estimated to grow at a CAGR of 18.08% through the forecast period, 2015-2020.

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The main concern for all automotive manufacturers is to increase the reliability and enhance efficiency of the vehicles. Stringent Emission Norms, particularly in European and American region are driving the Advancement in the Emission Sensor Technology. The European government has set standards under Euro 5/V and 6/VI in order to control the NOx emission, particulate pollutants by light & heavy commercial vehicles.

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The Automotive Sensor Industry has many suppliers and thus the competition in the market is high. Offering better product at a competitive price is the main concern for the manufacturers. The eminent players in this market include Continental AG, Delphi Automotive Systems, LLC, Denso Corporation, Robert Bosch GmbH and TRW Automotive, Inc. to name a few.

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Temperature Sensor Market Analysis and Forecast By Product Type (Thermistor, RTD, Thermocouple, ICs, Thermopiles, IR Sensors); Industry Verticals (Petrochemicals, Manufacturing, Automation, Electronics, Automotive) - (2013 - 2020) http://industryarc.com/Report/123/Global-Temperature-Sensors-Market.html

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