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.

Continental AG

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.

FTE Automotive

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

  • Active
  • Passive

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Wheel Speed Sensor Market

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