Passenger Car Sensors Market is expected to grow USD 1,48,100 million at a CAGR 8.50% during the forecast period. The growth of automotive industry directly leads to increasing demand in passenger vehicle sensor market. Efficiency, stringent emission norms, safety and comfort are some of the factors which drives the passenger car sensors market. Sensors are used from engine to exhaust system of the vehicle to optimize vehicle performance while improving reliability and durability. Moreover, advancements such as tire pressure monitoring systems, occupant detection, electronic stability control, heating and ventilation air conditioning and other are driving the market for passenger vehicle sensors. Additionally, Government also encourages passenger car sensors for electronic stability control and for detection.
Whereas, high cost acts as a barrier for the growth of the market growth.
Study Objectives of Passenger car sensors markets Market:
The major player operating in the market of Global Passenger car sensors are- Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Allegro Microsystems LLC, Analog Devices Inc., CTS Corporation, Elmos Semiconductors, Infineon Technologies and TRW Automotive.
Global Passenger Car Sensors Market: Segmentation
Passenger car sensors market is highest growing market in Asia pacific. Government announced that soon they will make rear view sensors or backup camera's mandatory on all new vehicles. Increasing risk to small children and pedestrians from reversing or rolling back vehicles is the major aim behind that. Additionally, sensor innovation such as monitor light, temperature, pressure and other things driving the market of passenger car sensors market and showing opportunity for the development of sensor.
Whereas, Europe is encouraging passenger car manufacturers to focus on the emerging parts of the globe where the passenger car population increasing at a fast pace.
Market Size of Global Passenger Car Sensors Market by Regions (USD Billion)
Product Analysis: Product matrix which gives a detailed comparison of the market for different recycled product types
The report for Global Passenger car sensors Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: USD 1,48,100 Million|
|CAGR||8.5% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Sensor Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Allegro Microsystems LLC, Analog Devices Inc., CTS Corporation, Elmos Semiconductors, Infineon Technologies and TRW Automotive|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
The global passenger car sensors market is projected to register a moderate 8.5% CAGR in the forecast period.
A few major market players operating in the global passenger car sensors market are Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Allegro Microsystems LLC, among others.
The speed segment is slated to expand as the fastest-growing segment.
The powertrain/drivetrain exhaust segment is slated to expand as the fastest-growing segment.
The global passenger car sensors market is expected to record a substantial market valuation due to the increasing need for electronic stability control and for detection.