US Wheel Speed Sensor Market

US Wheel Speed Sensor Market

ID: MRFR/AM/16759-US | 100 Pages | Author: MRFR Research Team | December 2023         

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The wheel speed sensor market in the United States is fostered by an advanced growth, mainly caused due to a multitude of facts highlighting that these elements are crucial components for contemporary automotive systems. The major stimulator of this demand is the growing attention to vehicle safety and ADAS.
Wheel speed sensors are an integral part of these systems and provide real-time information about the rotational speed for each wheel, which allows functions such as anti-lock braking system (ABS) and traction control. New trends in automotive safety standards require a speed sensor capable of providing reliable and high-performance output.
The increase in electric and hybrid vehicles also significantly adds to the demand for wheel speed sensors. With the growth of market shares of electric and hybrid vehicles, demand for wheel speed sensors is set to increase as well showing that there are no alternative options at hand. Wheel speed sensors become more and more sophisticated due to the technological development in automotive systems.
The combination of sensor technologies with sophisticated elements, for instance smart stoppers and foreseeable support capacities builds the capability and security in vehicles. With more automakers equipping such advanced features into their vehicle models, the need for wheel speed sensors that have evolved technologically to meet today’s high-tech standards of modern car systems is advanced.
The aftermarket sector also contributes significantly to the penetration of wheel speed sensors in US as vehicles deteriorate and current components suffer wear, replacements are needed. In addition to that, the growing consciousness among vehicle owners on regular maintenance supported by wheel speed sensors and their role in overall safety of vehicles increases aftermarket demand.
Aftermarket demand for wheel speed sensors is driven by the repair and service centers and DIY enthusiasts, creating a lasting market of these components. The interest in wheel speed sensors is also fueled by regulatory mandates and standards that are related to vehicle safety, describing the necessity of such standard features as ABS, traction control systemic ESC.
National Highway Traffic Safety Administration (NHTSA) regulations enforce some regulation requirements for these systems. These regulations require wide about of adoption of reliable and accurate wheel speed sensors that creates demand for such devices in the automotive market. Another driving factor for wheel speed sensors is the growing implementation of autonomous cars.
For autonomous and semi-autonomous vehicles, wheel speed sensors provide accurate real time data required highly for navigation as well as obstacle detection to control the entire vehicle. With the expansion and adoption of autonomous vehicle technology that is growing rapidly in US, companies are expected to boost demand for high-performance wheel speed sensors capable of supporting these advanced functionalities.
Several factors drive the demand for wheel speed sensors in U.S., such as vehicle safety, electric and hybrid vehicles grow emerging technologies aftermarket regulations autonomous driving advances demands of fuel economy. With further development in the automotive industry, emphasis on safety & efficiency, and advanced features demand for reliable & a developed wheel RPM sensor is likely to be one of the most fundamental part of this market helped by dynamics.