- The Asia Pacific Expected to Contribute Most Significantly to the Growth of the Global Passenger Car Sensors Market.
- The rising concern regarding carbon emission has led to an increase in the adoption of sensors for meeting emission norms.
- Europe is another important growth pocket and is presumed to grow significantly through the forecast period.
The Asia Pacific Expected to Contribute Most Significantly to the Growth of the Global Passenger Car Sensors Market. Global Passenger Car Sensors Market to Grow Steadily Through the Forecast Period 2016 to 2022.
As per the analysis offered by Market Research Future (MRFR), the global passenger car sensors market is expected to grow at a steady but constant pace over the forecast period 2016 to 2022. The growth of the automotive sector coupled with increasing demand for automobiles is likely to have a direct and favorable impact on the expansion of the market in the foreseeable future.
Passenger car sensors promote efficiency while increasing road safety. According to the World Health Organization (WHO)’s statistics, 1.25 million people die every year in road accidents, which makes it a daily average of 3,287 deaths. This has gained much attention from the governing authorities who are investing in the proliferation of the passenger car sensors market.
The rising concern regarding carbon emission has led to an increase in the adoption of sensors for meeting emission norms. The strict emission norms set by the governments globally for reducing carbon footprints are presumed to boost the future trajectory of the global passenger car sensors market over the next few years.
The developments in the automotive technology brought by the advancements in sensors such as tire pressure monitoring systems, electronic stability control, occupant detection, and heating & ventilation air conditioning (HVAC) among others are likely to favor the expansion of the passenger car sensors market. However, the high cost associated with the technology is anticipated to check the expansion of the market in the upcoming years.
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By sensor type, the global passenger car sensors market has been segmented into pressure, temperature, speed, and others.
By application, the passenger car sensors market has been segmented into powertrain/ drivetrain, exhaust, interior/comfort, Das and body control.
The global passenger car sensors market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among these, Asia Pacific is currently dominating the global market. The favorable policies framed by the governments for restricting emission levels and ensuring road safety are likely to propel the expansion of the passenger car sensors market over the assessment period. Furthermore, the region has transformed into a manufacturing hub and attracts massive investments from global players. This, in turn, is expected to favor the proliferation of the market in the region across the projection period.
Europe is another important growth pocket and is presumed to grow significantly through the forecast period. The booming automotive sector in the region is poised to catalyze the growth of the passenger car sensors market in the foreseeable future. In addition, the rapid advancements in the automotive sensor technology coupled with the growing transportation industry have neem prognosticated to drive the growth of the market over the assessment period.
Some of the key players profiled in this report are Continental AG, Denso Corporation, Robert Bosch GmbH, Delphi Automotive PLC, Analog Devices Inc., CTS Corporation, Infineon Technologies, Infineon Technologies, Allegro Microsystems LLC, Elmos Semiconductors, and TRW Automotive.