Automotive Sensor Market in TransitionMarch 6, 2012
Emerging economies and increasing environmental regulatory requirements are reshaping growth patterns.
ROCKVILLE, MD /Marketwire/ -- MarketResearch.com has announced the addition of the new report "Global Sensors Market for Automotive Applications (2011–2016)", to their collection of Electronics market reports.
The world witnessed recession from 2008 to 2009. The 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 turned the world automotive market upside down. Sales in developed markets such as the U.S., Western Europe, and Japan fell by nearly 9%, 2%, and 4%, respectively per year from 2004 to 2009, while emerging markets such as Brazil, China, and India grew by almost 14%, 26%, and 12%, respectively per year during the same period. This has made emerging nations a better market for automotive sensors as this market is highly dependent on automotive production in the respective market.
Developed markets such as the U.S., UK, and Japan have technologically advanced automotive markets due to the presence of 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 make them a good market for the sensor manufacturer. On the other hand, emerging markets such as China and India, due to the sharp increase in light vehicle manufacturing from 2004 to 2009 and expected continuous growth in future, have a positive impact on demand of automotive sensors, which makes them a huge market for automotive sensors.
Government plays a significant role in the growth of the automotive sensor market. Environmental regulations such as Euro 5 and Euro 6 in Europe tend to limit pollution caused by road vehicles. These regulations require more complex and additional systems. This results in more electronic content in automotives. Legislation called the TREAD Act in the U.S. has made the installation of tire pressure monitoring systems in all the vehicles mandatory. The U.S. government has also made airbags and side airbags compulsory for passengers, which 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 sensor market. It draws the competitive landscape of the automotive sensor market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting to gain an edge over the their competitors.
The revenue for the automotive sensor market is expected to grow from $14.5 billion in 2011 to $20.70 billion in 2016, at a CAGR of 7.4% from 2011 to 2016.
For more information, visit the company's Web site.
MarketResearch.com is a leading provider of global market intelligence products and services. With research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the "world's most extensive database of expert insights on global industries, companies, products, and trends." Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Veronica Franco at 240-747-3016.
Most Read Articles