Automotive Speedometer Market to Remain Lucrative During 2017 - 2025

New York, NY -- (SBWire) -- 09/13/2017 --Automotive speedometer s which are also termed as speed meter is a gauge which measures the instantaneous speed of the vehicles and displays it. Automotive speedometer s are considered to be standard equipment in automobiles since 1910. There are two kinds of automotive speedometer s used mechanic, automotive speedometer and electronic automotive speedometer; the mechanical uses flexible shaft which was driven by one wheel this shaft is used to calculate the speed of the car.

The electric automotive speedometer uses sensors which are used to count the revolution of the wheel. Most of the cars now have electronic automotive speedometer s rather than mechanical automotive speedometer s as electrical; the automotive speedometer is controlled by a computer which converts some signals from the sensors in the wheel into the certain voltage that drives the needle in the display. Automotive speedometer s are often combined with odometer and trip odometers where distance traveled by the vehicle and total distance traveled by the vehicle. The electro-mechanical speedometers are powered by electric motors and digital systems.

Global Automotive speedometer Market: Market Dynamics

With increased productions of cars globally the demand for speedometer is expected to increase. Many countries such as U.S. are focusing on road safety, and this is expected to increase the demand for global automotive speedometer market. The National Highway Traffic Safety Administration (NHTSA) requires speedometers to have a special emphasis on 55mph and display no more than the maximum speed of 85 mph. The restraint to the automotive speedometer market would be the replacement of speedometers to tachometers as they are very similar to automotive speedometer as they measure the angular speed of the rotating shaft. Most of the speedometers accuracy lowers as the tires wear off.

The automotive speedometers have tolerances of about 10% the source of error may be because of the variations in the diameters of the tires, the load of the vehicle, size, pressure, and temperature of the tires.

Global Automotive speedometer Market: Regional Overview

Based on the geographies, the global automotive speedometer market is fragmented into seven key regions- Latin America, North America, Eastern Europe, and Western Europe, Middle East & Africa, Asia-Pacific except Japan and Japan. Among the regions mentioned above, North America and Western Europe have the greater share in global automotive speedometer market.

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Asia-Pacific except Japan is the fastest growing market for automotive speedometer, followed by Japan and Latin America. Eastern Europe will show a steady growth in the global automotive speedometer market. Overall the market for automotive speedometer is expected to have a positive growth owing to growing demand of automotive speedometer in passenger cars. Passenger vehicles segment has the higher rate of usage of an automotive speedometer. Disc brake type is preferred by manufacturers globally.