According to the latest research report, during the projected period, the worldwide automotive rain sensors market size is estimated to develop at a CAGR of 6%.
The global automotive rain sensors market has grown gradually in recent years and is anticipated to expand steadily during the forecast period. The global automotive rain sensors market improves driver safety and convenience by eliminating the need for the driver to adjust the wiper on the windshield. Vehicle windshields are outfitted with rain sensors that detect the movement of wipers without obstructing the driver's vision. When the system is turned on, automotive rain sensors may regulate the wiping action of the wipers at a variable pace.
Automotive rain sensors prevent the driver from having to adjust the wipers on the windshield by sensing raindrops and automatically turning on wipers to provide a clear vision through the windshield. The rising automotive industry, as well as the increasing need for driver safety and comfort in vehicles, has driven the demand for sensors in automobiles. During the projected period, these are likely to drive the rain sensor market. The major drivers driving the automotive rain sensor market are technical progress, increased vehicle production, and increased demand for luxury amenities. The increased use of sophisticated electrical features in automobiles is driving the use of automotive rain sensors. Due to increased demand, original equipment manufacturers (OEM) are adding rain detecting wiper technology into cars. Previously, car rain sensors were considered a luxury feature. However, their demand has grown due to an increase in the frequency of traffic accidents worldwide. The incorporation of modern electrical features has raised the total cost of cars, acting as a restriction on the automotive rain sensor market value.
This report contains all the information on the global Automotive Rain Sensors Market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Automotive Rain Sensors Market outlook and forecast for 2027 is also included in the report.
Covid 19 Analysis
COVID-19 has had a wide range of effects, including flight cancellations, travel bans, and quarantines, restaurants closing, and all indoor events being confined in over forty countries where a national emergency has been declared, resulting in a massive slow down of IT spending, market volatility, growing public panic, and economic uncertainty.
Major Key Players
One of the major development reasons for the rain detecting wiper system market is the increasing demand for do-it-yourself (DIY) installation and the rising popularity of e-commerce. Customers have been increasingly purchasing DIY automobile goods that allow them to install the device themselves in recent years. This would motivate automobile component makers to supply rain detecting wiper systems as separate components that end-users may assemble and install without help, driving the use of rain-sensing wipers in the future years. Furthermore, the expansion of e-commerce, which allows users to quickly acquire items through easy procedures, will boost automotive rain sensors market growth.
Initially, the rain sensor utilized in rain detecting wiper systems was only available as an optional feature in premium vehicles. However, as technology has advanced, this function has become a standard feature for luxury automobiles while remaining an optional feature in other car categories. As a result, the market for automotive rain sensors is projected to expand across all passenger car categories. Increased usage of rain sensors in commercial vehicles would also enhance the global market.
The high cost of these sensors has kept them confined to the luxury vehicle segment, but higher productivity capabilities, technological advancements, and smart sensor upliftment by budget period automotive companies have markedly reduced the cost per unit of rain sensors, creating new possibilities for market growth. For example, Hyundai Motors India Ltd introduced rain sensors in its Hyundai Elantra sedan. As a result of the price decrease, OEMs are now able to expand the usage of these sensors across all vehicle categories.
Rain sensors in automobiles come with certain challenges. The wipers are automated by a single drop of water. As a result, repeated wiper activation might harm the windshield. The use of automobile rain sensors may be hampered as a result of this inconvenience. The advent of sophisticated electrical features has raised the total cost of automobiles. This is a significant stumbling block for the car rain sensor business.
Cumulative Growth Analysis
The primary markets for rain-sensing technology are Europe and North America, which combined account for more than half of the worldwide market share in the automotive sensor industry. The North American market is anticipated to expand at a faster CAGR by 2023, because of increased customer demand for sophisticated sensor-based cars. The market development in Asia is also visible, with increasing demand for luxury vehicles in India and China, as well as the cheap car sector, such as Hyundai.
Demand for passenger vehicles is expected to rise in the future due to the economic expansion of emerging nations such as China and India. This will prompt automakers to invest heavily in technology and sophisticated mass production methods, driving up demand for automotive rain-detecting wiper systems. Furthermore, rising expenditures in infrastructure development and industrialization, which fuel demand for commercial vehicles, would improve the marketâs growth prospects in this area. According to this market research analysis, APAC will continue to lead the rain-sensing windshield wipers market during the projected period, with key market contributors including China, India, Indonesia, Japan, and South Korea.
Value Chain Analysis
According to the reports, the automotive rain sensor market may be divided into two categories: channel type and vehicle type. The market is separated into two channels: original equipment manufacturer (OEM) and aftermarket. The market may be split into three categories based on vehicle type: passenger, light commercial, and heavy commercial. The Automotive Rain Sensors market is currently expanding. This is due to growing worries about car safety in the coming years. The high application in the automotive sector is largely responsible for the rise, which is expected to continue in the foreseeable years. The rising demand for luxury automobiles, along with rising disposable income, has provided a tremendous opportunity for the global expansion of the automotive rain sensors industry. North America is presently the leading region in the automotive rain sensors market share, with a higher share predicted over the forecast period, followed by Europe and the Asia Pacific.
The market is segmented on the basis of channel type, vehicle type, and regions. The global Automotive Rain Sensors Market trend is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into original equipment manufacturer (OEM) and aftermarket.
Based on the propulsion types, the market is segmented into passenger, light commercial, and heavy commercial.
According to the reports, on the basis of region, the global automotive rain sensors market is divided into North America, Europe, Asia Pacific, and the rest of the world. In 2015, Europe is expected to have the biggest proportion of the vehicle rain sensor market. In 2015, the passenger vehicle sector is expected to dominate the market, followed by Light Commercial Vehicles (LCV). The growing need for comfort and safety provides significant growth possibilities for rain detecting wiper systems, which employ automobile rain sensors, and therefore increase demand for the same. There are no direct alternatives for automotive rain sensors, which is a plus for manufacturers. Manufacturers with excellent technological capabilities dominate the market. As one of the major luxury automobile markets, the North American market has significant growth potential. Vehicle sales data suggest a strong development potential, driven mostly by a pick-up truck and SUV sales, which dominate the industry. As a result, the LCV segment is projected to expand in the near future.
The automobile rain sensors market is concentrated, with numerous national and international companies present. To extend their reach and maintain their market position, the big companies are employing methods such as product innovation, mergers, and acquisitions. Honeywell International, ABB Ltd, Analog Devices Inc., and GE are among the market's main players.
The following report comprises of –
Automotive Rain Sensors Market: Product Type
Automotive Rain Sensors Market: Application
The geographical analysis of Automotive Rain Sensors Market:
|Market Size||2030: Significant Value|
|CAGR||6% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Channel Type, Vehicle Type, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hella KGaA Hueck & Co. (Germany), Denso Corporation (Japan), Pacific Industrial Co. Ltd (Japan), Robert Bosch GmbH (Germany), Valeo S.A. (France), TRW Automotive (U.S), Mitsubishi Motors Corporation (Japan), Vishay Intertechnology (U.S), Hamamatsu Photonics K.K. (Japan), Melexis Microelectronic Systems (Belgium) and The Kostal Group (Germany).|
|Key Market Opportunities||Increasing demand for luxury vehicles, with increase in disposable income has created a huge scope|
|Key Market Drivers||Developing automotive industry and growing demand for driver safety & comfort in automobiles, along with mounting adoption of electrical systems|
Frequently Asked Questions (FAQ) :
The developing automotive industry and growing demand for driver safety & comfort in automobiles, along with mounting adoption of electrical systems has fueled the demand of sensors in automobiles.
The market will grow at ~ 6% CAGR in the forecast period.
Channel type and vehicle type are the segments of the market.
Denso Corporation (Japan), Hella KGaA Hueck & Co. (Germany), Robert Bosch GmbH (Germany), Valeo S.A. (France), Pacific Industrial Co. Ltd (Japan) are the competitors of the market as per the study.
The market will be gathering and evolving at a higher CAGR in the future.