Press release
Automotive Position Sensor Market Top Leading Players with Strategies and Forecast 2022-2028
The global position sensor market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period (2022-2028). The rise in automotive production coupled with growing government investments in the sector is anticipated to drive the growth of the global automotive position sensor market. For instance, as per the data published by India Brand Equity Foundation (IBEF) in 2022, India has sold 3.49 million units in passenger and commercial vehicle categories. In October 2021, the total production volume of passenger vehicles reached 2,214,745 units. The luxury car market had registered sales between 28000-33000 units in 2021, up from 20000-21000 units sold in 2020.Further, the government regulations to reduce carbon emissions and increase fuel efficiency is mandating the use of automotive position sensors to ensure vehicle compliance with several emissions standards. For instance, in December 2021, the US Environmental Protection Agency (EPA) revised national greenhouse emissions standards for passenger cars and trucks for model years 2023-2026. The final standards are projected to achieve significant GHC emissions reductions along with reductions in other criteria pollutants.
Looking toward the demand for the automotive position sensors, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2019, Robert Bosch GmbH developed a vehicle motion and position sensor that allows automated vehicles to determine their position. The sensor included a high-performance receiver unit for the global navigation satellite system (GNSS), which detects the vehicle's absolute position. Thus, such launches are anticipated to drive the growth of the global automotive position sensor market.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Vehicle
o By Type
o By Application
o By Sales channel
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Continental AG, Denso Corp., and Robert Bosch GmbH among others
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
A full report of Automotive Position Sensor Market is available at:
https://orionmarketreports.com/automotive-position-sensor-market/102609/
Global Automotive Position Sensor Market Report by Segment
By Type
• Multi-Axis
• Angular
• Linear
By Vehicle
• Passenger Cars
• Heavy Commercial Vehicles
• Light Commercial Vehicles
By Application
• Transmission and Suspension
• Gear Shifters
• Chassis
• Clutch Brake & Accelerator Pedals
By Sales channel
• OEM
• Aftermarket
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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