NEW YORK, Feb.1, 2016 /PRNewswire/ -- The India automotive sensors market is expected to grow to $1.51 billion by 2018 at a CAGR of 11.64% over the period 2015-2020. The Indian government's move to make the installation of certain automotive sensors mandatory (especially for two wheelers), would drive the rapid growth of automotive sensors in all the vehicle segments of the Indian automotive market. In addition the growing demand for premium and luxury vehicles would help to augment the growth of the automotive sensor market significantly. The sales of passenger vehicles have also shown a rapid growth in India, with Y-to-Y sales growing up by 8.45% till October 2015.
The demand to automate every automotive component, which can sense, and act, would continuously ask for innovation in different types of automotive sensors. The OEMs operating in the Indian market, are looking to differentiate the vehicles with that of the competitor, by incorporating several new features based on sensors. Continental, one of the premier automotive sensor manufacturer had developed a comprehensive series of advanced automotive sensors to increase vehicle automation and improve various functional efficacies of the vehicle. One such advancement is the Intelligent Battery Sensor, which continuously analyses the status of conventional 12-Volt lead-acid batteries and provides information on key parameters such as the state-of-charge, state-of-function (power ability) and state-of-health (aging) of the battery. The battery sensor could be deployed to any standard battery system.
In addition, the government has formulated a scheme for faster adoption and manufacturing of Electric and Hybrid Vehicles in India, under the National Electric Mobility Mission 2020. This move my the government would encourage the progressive induction of reliable, affordable and efficient electric and hybrid vehicles in the country. Electric and Hybrid Vehicles have an extensive range of vehicle sensors in various applications of the vehicle ranging from powertrain and chassis, body electronics, safety and security etc. Thereby the growth of electric vehicles would significantly help to augment the growth of the market. However the heavy cost associated with these sensors would pose a threat in the adoption of these systems.
The India Automotive Sensors Market is segmented on the basis of Type (Temperature, Pressure, Speed, Level/Position, MEMS, Magnetic, Gas, and Inertial), Application (Powertrain, Body Electronics, Vehicle Security Systems, Alternative Fuel Vehicle, and Telematics). The Pressure and MEMS sectors are expected to be the major segments pioneering the growth of the market in the forecast period. In application, sensors used in the powertrain (especially in engine and chassis) would significantly grow to remain the largest contributor in the automotive sensor application market. However sensors used in the alternative fuel vehicle would grow with the highest rate, due to the growing adoption of electric and hybrid vehicles in the forecast period.
The report also profiles the leading suppliers of India Automotive Sensors Market. Some of the top companies in the market are Texas Instruments (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Analog Devices (U.S.), Continental AG(Germany), Infineon Technologies AG (Germany), Freescale semiconductor Inc. (U.S.), and Delphi Automotive PLC (U.K.) and others.
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