Automotive Wheel Speed Sensor Market Introduction
The automotive wheel speed sensor is a key component of the modern vehicle, as it plays a major role in activation of modern systems such as ABS (Anti-lock braking system), ESC (Electronic stability control), and TCS (Traction Control System). The wheel speed sensor detects or senses the speed of vehicle and passes this information to the control unit of the aforementioned systems so that it can act accordingly to produce optimum performance.
Automotive Wheel Speed Sensor Market - Competitive Landscape
Continental AG, Robert Bosch GmbH, DENSO CORPORATION, NXP Semiconductors, Delphi Technologies, Hitachi Ltd., FTE automotive (a subsidiary of Valeo), and ZF Friedrichshafen AG are key players operating in the automotive wheel speed sensor market. In July 2018, Robert Bosch GmbH announced to manufacture ABS for ebikes. The company collaborated with major ebike manufacturers such as E BIKE Advanced, Flyer, KTM, Riese & Müller, and ZEG (Zemo) to launch its product in the market.
Established in 1871 with headquarters in Hannover, Germany, Continental AG is a leading global company that manufactures automotive electronic components and technology. The company operates through five major business segments: tires, brake systems, powertrain and components, automotive safety, and vehicle electronics.
Founded in 1943, with headquarters in Ebern, Germany, FTE Automotive became a part of Valeo Group in November 2017. The company specializes in drive train and brake system products that cater to the automotive industry.
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ZF Friedrichshafen AG
Established in 1915, with headquarters in Friedrichshafen, Germany, the company has a diverse product portfolio that caters to the automotive industry. The company emphasizes on the development of automotive safety systems and automotive drivetrain products. ZF Friedrichshafen AG has recently showcased the world’s first automotive external pre-crash airbag system.
Automotive Wheel Speed Sensor Market Dynamics
Rising integration of safety products coupled with rising stringency of regulatory norms for automotive
Automotive safety standards are becoming increasingly stringent. Very high safety standards have been set for the development of new safety systems such as electronic stability system, traction control systems; however, the market for safety systems has been expanding consistently. Development of systems that require information about the vehicle’s speed require wheel speed sensors as their prime component. Therefore, the market for automotive wheel speed sensor is likely to expand during the forecast period.
Rising stringency of safety standards across the globe is likely to boost the automotive wheel speed sensor market, as it is mandatory for the ABS in vehicles above 150 CC in India from April 2019. This, in turn, is driving the demand for automotive speed sensors. Furthermore, rising concern of governing bodies of all regions is likely to mandate other relevant systems that require integration of the wheel speed sensor in the vehicle, which in turn is likely to boost the automotive wheel speed sensor market during the forecast period.
Application of single sensor for multiple automotive systems
The automotive wheel speed sensor is integrated in all vehicles that have ABS systems. Consequently, rising penetration of other safety systems would not boost the expansion rate effectively; however, the market is likely to expand at a comparatively sluggish pace during the forecast period.
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Automotive Wheel Speed Sensor Market Segmentation
Based on type, the automotive wheel speed sensor market can be bifurcated into
Based on the technology, the automotive wheel speed sensor market can be classified into
- Hall technology
- Magnetic electric type
Based on the electric vehicle type, the automotive wheel speed sensor market can be divided into
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Based on vehicle type, the automotive wheel speed sensor market can be segregated into
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
The report on automotive wheel speed sensor market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The automotive wheel speed sensor market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The automotive wheel speed sensor market report also maps the qualitative impact of various market factors on market segments and geographies.
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