NEW YORK, July 26, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global automotive sensor market looks good with opportunities in the engine and transmission, safety and security, body, chassis, and driver support applications. The global automotive sensor market is forecast to grow at a CAGR of 4.0% from 2016 to 2021. The major drivers of growth for this market are increasing automotive production; increasing usage of electronic component per vehicle further increases the number of sensor, and various government regulations for fuel emission and vehicle safety.
In this market, engine and transmission, safety and security, body applications, chassis applications, and driver support are some of the major segments of automotive sensor. On the basis of its comprehensive research, Lucintel forecasts that the safety and security and driver support segments are expected to show above average growth during the forecast period.
Within the global automotive sensor market, the engine and transmission segment is expected to remain as the largest market. Continuous implementation of the fuel emission regulations and increasing sensor content in the engine and transmission applications would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to high vehicle production, continuous implementation of regulations on fuel emission and increasing number of sensor per vehicle. Europe and Rest of the World are expected to witness significant growth over the forecast period because of stringent government regulations on fuel emission and safety of vehicles, strong recovery in vehicle production and sales along with continuous demand for safety and comfort features.
For market expansion, the report suggests innovation and new product development to produce high-performance and energy-efficient sensor in an environmentally friendly manner. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing usage of sensors in ADAS application, development of advanced magnetic position sensor in electric power steering application, advancement of silicon based sensor, and development of wireless sensing for automotive application. Continental AG, Denso Corporation, Delphi Automotive PLC, ZF TRW Automotive Holdings Corp, and Honeywell International Inc. are the major sensor manufacturers in the global automotive sensor market. Some companies are opting for mergers and acquisitions as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for the global automotive sensor market by applications and region and has come up with a comprehensive research report, "Global Automotive Sensor Market 2016-2021: Trends, Forecast, and Opportunity Analysis" The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global automotive sensor market through 2021, segmented by applications and region as follows:
By applications ($ billion from 2010 to 2021)
Engine and Transmission Safety and Security Body applications Chassis Applications Driver Support
By region ($ billion from 2010 to 2021)
North America Europe Asia Pacific Rest of the World
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for automotive sensor market by application and regions?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. How is the competitive rivalry and threat of substitution in this market?
Q.11. What are M&A activities in the last 5 years in this market? What reasons to these activities and how have they impacted the industry?
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of "Growth Opportunities in the Global Automotive Sensor Market 2016-2021: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global automotive sensor industry size estimation in terms of value ($B).] Trend and forecast analysis: Global automotive sensor industry trend (2010-2015) and forecast (2016-2021) by region and by segments. Segmentation analysis: Global automotive sensor industry size by various application types, such as engine and transmission, safety and security, body applications, chassis applications and driver support in terms of value. Regional analysis: Global automotive sensor industry breakdown by key regions, such as North America, Europe, Asia Pacific, and Rest of World. Growth opportunities: Analysis on growth opportunities in different applications and regions. Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global automotive sensor suppliers. Emerging applications: Emerging applications of global automotive sensor in various markets. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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