Automotive Electronics Sensor After Market Insight

Automotive electronics sensor aftermarket is expected to progress at 4.15% CAGR during the forecast period.

The study on the global Automotive Electronics Sensor aftermarket 2020 by Market Research Future has been conducted with current proceeding within the automotive industry. The report also refers to the influence of the novel COVID-19 pandemic on the Electronics Sensor market. The study offers an apparent assessment of the projected market fluctuations during the forecast period (2017-2025) at a towering pace of 4.15% while anticipating a valuation surpassing USD 9,600 million the previous by 2025.

Top Competitors

The top players of Global Automotive Electronics Sensor Aftermarket are listed as BorgWarner Inc. (US), NGK Spark Plug CO., LTD (Japan), Delphi Technologies (UK), Robert Bosch GmbH (Germany), Continental AG (Germany), Valeo (France), Hella GmbH Co. KGaA (Germany), Denso Corporation (Japan), and Sensata Technologies, Inc. (US)

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Trending Factors Drivers

Electronics sensor aftermarket market to experience a remarkable growth as automotive manufacturers are making their products energy-efficient, safer and convenient. After this, rising production of cars globally, mounting vehicle electrification, stringent government regulations, and upward demand for Automotive Electronics Sensor Aftermarket for the comfort and convenience has also motivated the market to a great extent.

More factors stated by the Market Research Future (MRFR) report include the rising concern about emission norms, greenhouse gas emissions and fuel economy getting stringent in various parts of the world, rigid rules laid down by the government for security and fuel emission have helped a great deal to shape the automotive industry amid COVID 19 outbreak. This has opened ways laiding opportunities for automotive manufacturers in using different sensors in cars for keeping a track on exhaust gases.

Furthermore, a consistent rise in sales figure of vehicles that has sensors to measure tire pressure, and intelligent monitoring system and that can improve engine control, vehicle safety and fuel efficiency can reinforce the expansion of the automotive electronics sensor aftermarket growth in the future mainly post lockdown period.

Leading Segments

The automotive electronics sensor aftermarket market study is conducted on various segments such as on type, vehicle type, and application.

In terms of type segment, the global Automotive Electronics Sensor Aftermarket Size has included a LiDAR sensor, oxygen sensor, position sensor, temperature sensor, speed sensor, pressure sensor, and others. Among these, oxygen sensor segment is expected to lead the market, owing to the upward demand for improved fuel efficiency and strong exhaust emissions in the vehicle.

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In terms of application segment, the global Automotive Electronics Sensor Aftermarket Share has included body electronics, power train, telematics, safety control, and others. Among these, the power train segment might grab the maximum market share owing to the functionality of various power train ECUs and enhance the control with predictions based on the real-time execution of complex mathematical models.

In terms of vehicle type segment, the global automotive electronics sensor aftermarket has included light commercial vehicle, passenger car, and heavy commercial vehicle. The passenger car segment might secure maximum market share in support of surge in the use of sensors in diverse applications in passenger cars.

Targeted Regions

Regionally, the global Automotive Electronics Sensor Aftermarket trends, has been studied for the regions of Asia-Pacific (APAC), Europe, North America, and the rest of the World.

The Asia-Pacific market is highly expected to offer capable expansion opportunities for the automotive electronics sensor aftermarket with high automotive vehicle sale in India, China, New Zealand, Japan, Australia, South Korea, and Indonesia. These regions grabbed 42.58 million units in 2017. The automotive electric sensors are used in different systems of the electric vehicle, such as body electronics, power train chassis, security and vehicle safety. Thus, the development of electric vehicles is probable to motivate the automotive electronics sensors market in this region.

China is one of the countries for significant vehicle’s sales. As per data from the China Association of Automobile Manufacturers, one of the leading producers for electric vehicle and consumers in the world, with new-energy type vehicle and its sale acquired 770,000 units in 2017. Moreover, the government and related organizations are steadily investing in encouraging electrification in vehicles. Furthermore, China has recorded with 300 million registered vehicles on the road until the year 2017. This has created expectancy of offering promising opportunities for the Automotive Electronics Sensor Aftermarket growth during the assessment period.

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