Global Automotive Wheel Speed Sensor Market Poised to Value over $8 Billion by 2026 End

  • 08 May 2019

Global automotive wheel speed sensor market is poised to value over $8 billion by 2026 end, growing at a CAGR of over 3% during the forecast period, 2019-2026.

Electronic Control Unit of vehicles depends on automotive wheel speed sensors or ABS speed sensors for accurate speed readings in order to regulate brake pressure adjustments. The high end and everyday vehicles automotive wireless electronics is automating multiple driving features and improving vehicle safety by minimizing human errors. Automotive wheel speed sensor is a vital component in controlling multiple vehicle dynamics with cautions and mitigations especially during over speeding or hazardous accidental situations. Apart from this, it proves obligatory in supplementary functions like automated driving, lane departure warning, rear cross-traffic alerts, lane change assistance, crash prevention, driving comfort, etc. Thus automotive wheel speed sensors profoundly tackle the driver and road safety challenges. Also, high in demand passenger vehicles with driver assistance system needs to be equipped with automotive wheel speed sensors.
Aforementioned benefits and factors have culminated in colossal growth of global automotive wheel speed sensor market and estimated to remain accelerated during the forecast period from 2019 to 2026.

Global Automotive Wheel Speed Sensor Market Dynamics
•    Stringent road and vehicle safety regulatory norms levied by the government are boosting automobile manufacturer innovations like receptor isolation, signalling synthesis methods and reduced size of automobile sensor components.
•    Energy efficient and high accuracy automotive wheel speed sensors are projected to experience high demand for upcoming periods.
•    Increasing demand for high-end vehicles is promoting global vehicle production growth which in turn is facilitating the growth of automotive wheel speed sensors market.
•    Fluctuating prices of automotive wheel speed sensors and rapidly changing budgets of related technology are factors projected to hinder the growth of automotive wheel speed sensors market in the near future.

Global Automotive Wheel Speed Sensor Market, By Vehicle Type
+ Passenger Cars  
+ Commercial Vehicles
Efficient and environment-friendly vehicles production at the global landscape is stimulating the demand for passenger vehicles. So is the need for advanced safety technology using speed sensors. Hence the global automotive wheel speed sensor market is expected to experience passenger cars segments growth at an attractive CAGR.

Global Automotive Wheel Speed Sensor Market, By Sensor Type 
+ Active
+ Passive

Global Automotive Wheel Speed Sensor Market, By Region 
+ North America 
+ Latin America 
+ Europe 
+ Asia Pacific 
+ Rest of the World 
Europe is anticipated to have the largest market share during the forecast period and witness significant growth owing to the presence of large industrialized base of operative automotive syndicates. North America is growing at a high CAGR due to inclination towards adopting new technologies. APAC is expected to generate lucrative revenue due to rapid industrialization, government subsidiaries and needs to meet customer demand for innovative automobile products.

Competitive Landscape:   
+ Tier 1 players- established companies in the market with a major    market share 
+ Tier 2 players  
+ Emerging players which are growing rapidly  
+ New Entrants   

FutureWise Key Takeaways  
+ Growth prospects 
+ SWOT analysis  
+ Key trends  
+ Key data-points affecting market growth  

Objectives of the Study:  
+ To provide with an exhaustive analysis on the global automotive wheel speed sensor market on the basis of vehicle type, sensor type, region, major market players and competitive presence for the period 2019 to 2026
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
+ To evaluate and forecast micro-markets and the overall market  
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies   

 

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