According
to a new market report published by Transparency Market Research
"Motor Vehicle Sensors Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2013 - 2019", the market was
valued at USD 11.16 billion in 2012, and is expected to reach USD
15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019.
Lack of adequate power infrastructure and increasing demand for
reliable electricity delivery are the major driving forces of this
market.
Browse
the full Motor
Vehicle Sensors Market
Report: http://www.transparencymarketresearch.com/motor-vehicle-sensors.html
The
applications of motor vehicle sensors include engine and drivetrain,
safety and security, and emission control applications along with
other smaller applications. Engine and drivetrain application is the
largest application segment and accounted for 34% share of the total
motor vehicle sensors market in 2012. This segment is expected to
reach a value exceeding USD 8.2 billion by 2018. Safety and security
application is expected to remain the fastest growing segment for
this market, and is expected to grow at a CAGR of 12.9% during the
forecast period.
There
are different types of sensors used in motor vehicles depending on
their end use. The major product segments of motor vehicle sensors
include - physical property sensors, process variable sensors,
proximity and positioning sensors, chemical property sensors, and
other sensors. Physical property sensors are widely deployed in motor
vehicles since they are used to measure vital physical properties
such as force, speed, and vibration among others. Physical property
sensors is the largest product segment of the motor vehicle sensors
market and is expected to exceed a value of USD 8 billion by 2018, at
a CAGR of 12.1% during the forecast period. Proximity sensors are
used in motor vehicles for detecting the
presence
of any nearby objects without any physical contact, while positioning
sensors help in detecting the exact position of the vehicle.
Proximity and positioning sensors is the fastest growing segment in
this market, registering a CAGR of 12.6% during the same forecast
period. High growth of this segment is the result of increased focus
on vehicle safety from accidents and thefts.
Some
of the major players manufacturing motor vehicle sensors include
Bosch, Denso, Valeo, Continental AG, Delphi Automotives, and Hitachi
Automotives, among others. Bosch was leading the global motor vehicle
sensors market with 13.0% share followed by Denso in 2011.
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