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Automotive Wheel Speed Sensor Market Predictions for 2025 | Latest Industry Trends
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The report offers a detailed analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations. According to the report, the global automotive wheel speed sensor market was estimated at $6.4 billion in 2017 and is expected to hit $8.4 billion by 2025, growing at a CAGR of 3.6% during the forecast period.
Increase in adoption of anti-lock braking system in vehicles, stringent government mandates for minimum stoppages distance, and rise in automotive sales across the globe have fueled the growth of global automotive wheel speed sensor market. On the other hand, high cost of the technology has happened to curtail down the growth to some extent. However, increase in penetration of electric vehicles and rise in demand for autonomous vehicles have created multiple opportunities in the segment.
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Passenger vehicle to have the lion's share throughout the forecast period
Based on vehicle type, passenger vehicle contributed to nearly three-fourth of the total market in 2017 and is anticipated to maintain its top status during the forecast period, 2018–2025. Cumulative sales, growing disposable income, and compulsion of ABS system in passenger vehicles have augmented the growth for the automotive wheel speed sensors market. Simultaneously, commercial vehicle has come up as the fastest growing segment, registering a CAGR of 3.1% during the forecast period.
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Key players in the market
Leading market players analyzed in the research include Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Continental AG, DENSO CORPORATION, WABCO, Hitachi Metals, Ltd., Melexis, NTN-SNR, NXP Semiconductors, and ZF Friedrichshafen AG.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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