LONDON, April 26, 2014 /PRNewswire/ -- "Increasing vehicle production, increasing technological advancements, rising demand for comfort and luxury features & increasing vehicle electrification are driving the automotive rain sensor market"
The size of the automotive rain sensor market is projected to grow at a promising CAGR of 6.05% during the forecast period, to reach USD 4.15 billion by 2020. The market is driven by factors such as technological advancements, rising vehicle production, safety norms, and increasing demand for comfort features.
"North America: Fastest growing market for automotive rain sensors"
The North American market, in terms of volume, is projected to grow at the highest CAGR during the forecast period, as a result of the increased demand for advanced vehicles, especially from countries such as the U.S. and Mexico. Additionally, developments in the global automotive market, such as mergers and the relocation of production centers to emerging economies, has increased the market potential in Mexico. For instance, automakers such as General Motors (U.S.), Ford (U.S.) and many others have started to shift the production plants from U.S. to Mexico. Vehicle production in Mexico is expected to grow, owing to the availability of cheap labor and favorable government policies. The NAFTA agreement has acted as a big boost for Mexico which has opened the gates for automotive manufacturers to export its products to the large U.S. automotive market. The increasing LCV production will foster the growth of the automotive rain sensor market.
This report classifies and defines the global automotive rain sensor market, in terms of volume and value. Market size, in terms of volume, is provided in thousand units from 2013 to 2020, while the market size, by value, is provided in terms of USD million. This report also segments the automotive rain sensor market into major regions (North America, Asia-Oceania, Europe, and the Rest of the World (RoW)). Additionally, key players in the automotive rain sensor market have been identified and profiled.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type – Tier-1 - 56 %, Tier-2 - 42%, and Others - 2%
• By Designation - C level - 17%, Director level - 33%, and Others - 50%
• By Region - North America - 14%, Europe - 28%, and Asia-Oceania - 55%
The automotive rain sensor market is dominated by a few globally established players, such as
HELLA KGaA Hueck & Co. (Germany), ZF TRW (U.S.), Denso Corporation (Japan) and Robert Bosch GmBH (Germany), among others. The key growth strategies adopted by these players are expansion and new product development.
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis (industry trends, Porters Five Forces, and PEST analysis), value chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the rain sensor market, competitive landscape, drivers, restraints, opportunities, challenges, high-growth regions and countries, and government initiatives.
The report will enable new entrants/smaller firms as well as established firms to understand the market better, which will help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for automotive rain sensor across regions
- Product Development/Innovation: Detailed insights into R&D activities, upcoming technologies, and new product launches in the global automotive rain sensor market
- Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the global automotive rain sensor market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the global automotive rain sensor market
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