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Automotive Sensors Market is Estimated to Grow at a CAGR of 5.36% from 2018 to 2025
May 21, 2018 | Progressive MarketsEstimated reading time: 2 minutes
The global automotive sensors market was valued at $20,458 million in 2014 and is likely to garner $34,654 million in 2025, growing at a CAGR of 5.36% during the forecast period, 2018-2025 according to Progressive Markets report, Automotive Sensors Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025.
The report provides a comprehensive review of the automotive sensors market covering details on research methodology, automotive sensors market size, automotive sensors market share analysis, automotive sensors market trends, automotive sensors industry statistics, automotive sensors market forecast, market dynamics, Porters analysis, and company profiles. The report is a useful tool as it helps identify the opportunities in the field and provides accurate data and forecasting that empowers qualitative decision making among market players, investors, shareholders, and new entrants.
The report provides an executive summary of the global automotive sensors industry to help market players and new entrants comprehend the overall market scenario and plan strategies for growth. Market attractiveness helps assess the potential market value while trends analysis helps predict the future changes in the price of a stock. Key findings are listed in the report to help market players determine investment viability. The competitive landscape is provided to help industry players determine the competitive environment within the industry and take steps to gain a competitive edge.
The market landscape of the automotive sensors market is provided in terms of the growth drivers, restraints and opportunities, Porters Five Forces analysis, and market share analysis. The rise and fall of the automotive sensors industry are dependent on the drivers and restraints of the market. The drivers lead to the growth of the market while the restraints result in the fall of the market. The drivers of the automotive sensors market include the increasing demand for automotive sensors in hybrid and electric cars, favorable legislation for use of automotive sensors, and consumers concerns regarding vehicle security and environmental safety are likely to propel the growth of the industry. On the other hand, high development cost associated with raw material is likely to hinder the market growth.
The report offers a detailed segmentation of the global automotive sensors market based on type, application, and geography. Based on type, the market is bifurcated into temperature sensor, gas sensor, pressure sensor, motion sensor, and MEMS sensor. The pressure sensor segment garnered $5,252 million in 2017 and is likely to grow at a CAGR of 5.08% during the forecast period. The temperature sensor and motion sensor segments are expected to grow at a CAGR of 4.58% during the forecast period.
Based on application, the market is classified as chassis, powertrain, body electronics, and safety & security. The powertrain sector is likely to grow at a CAGR of 5.08% during the forecast period. The body electronics sector garnered $1,607 million in 2017 and is expected to garner $1,871 million in 2025. In North America, the automotive sensors market is analyzed across the U.S., Canada, and Mexico. In Europe, the industry is studied in Germany, UK, France, Italy, and the rest of Europe. In Asia-Pacific, the automotive sensors market analysis covers China, Japan, South Korea, Singapore, and the rest of Asia-Pacific. The market analysis in the LAMEA region covers Brazil, Argentina, South Africa, UAE, Saudi Arabia, Chile, and others.
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