New Manufacturing market report from Markets and Markets: "Sensors Market [(Temperature, Pressure, Speed, Level/Position, Oxygen, Nox) For Automotive Applications (Power Train, Body Electronics, Vehicle Security, Safety and Controls, Alternative Fuel Vehicles and Telematics)] 2012 - 2022"
Boston, MA -- (SBWIRE) -- 10/11/2013 -- The world has suffered from global recession from 2008-2009. Automotive industry was also hit on a massive scale dropping total automotive production from 68 million units of light vehicle production to 58 million. Recession has changed the world automotive market upside down. Sales in developed markets such as the US, Western Europe and Japan fell nearly by 9%, 2% and 4% per year from 2004 to2009, while emerging markets like Brazil, China, and India grew by almost 14%, 26% and 12% percent respectively per year during the same period. This has made emerging markets a better sensors market for automotive applications as the automotive sensors market is highly dependant on production of respective market.
Developed market such as U.S., U.K. and Japan has technologically advanced automotive markets due to the presence prominent system suppliers, large semiconductor companies and sensor manufacturers. The size of the region, the affluence of its consumers and the competitiveness of the light vehicle market makes them a good market for sensor manufacturer. On the other hand, emerging markets like china and India, due to sharp increase in light vehicle manufacturing from 2004 till 2009 and expected continues growth in future has a positive impact on demand of automotive sensors which makes them huge market for automotive sensors.
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Government plays a significant role in growing the automotive sensors. Environmental regulations such as Euro 5, Euro 6 in Europe tend to limit pollution caused by road vehicles. These regulations require more complex and additional systems results in more electronic content in automotive. Legislation called TREAD Act in United States has made the installation of TPMS (tire pressure monitoring systems) in all vehicles mandatory. Government of United States also has made passengers airbags and side airbags compulsory which again will drive the pressure sensor market further.
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the automotive sensors market, The report draws the competitive landscape of automotive sensors market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
The revenue for the sensors market for automotive applications is expected to grow from $17.15 billion in 2013 to $33.59 billion in 2022 at an estimated CAGR of 7.8%. The volume of sensors used for automotive applications currently estimated to be 2965.37 million units in 2012 and is expected to rise from 3302.19 million units in 2013 to 8,930 million units by 2022 at an estimated CAGR of 11.7% from 2013 to 2022.
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