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Automotive speedometer Market to Witness Exponential Growth by 2025
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Global Automotive speedometer Market: Market Dynamics
With increased productions of cars globally the demand for speedometer is expected to increase. Many countries such as U.S. are focusing on road safety, and this is expected to increase the demand for global automotive speedometer market. The National Highway Traffic Safety Administration (NHTSA) requires speedometers to have a special emphasis on 55mph and display no more than the maximum speed of 85 mph. The restraint to the automotive speedometer market would be the replacement of speedometers to tachometers as they are very similar to automotive speedometer as they measure the angular speed of the rotating shaft. Most of the speedometers accuracy lowers as the tires wear off. The automotive speedometers have tolerances of about 10% the source of error may be because of the variations in the diameters of the tires, the load of the vehicle, size, pressure, and temperature of the tires.
Global Automotive speedometer Market: Market Segmentation
The global automotive speedometer market has been classified by type of automotive speedometer, vehicle type, types of automotive speedometer display and sales channel.
By vehicle type, the global automotive speedometer market is segmented into:
Two wheeler vehicles
Passenger vehicles
Light commercial vehicles
Heavy commercial vehicles
By types of automotive speedometer s display, the global automotive speedometer market is segmented into:
Electronic automotive speedometer
Mechanical Automotive speedometer
Electro mechanical automotive speedometer
By types of automotive speedometer s display, the global automotive speedometer market is segmented into:
Analog Automotive speedometer
Digital Automotive speedometer
By sales channels, the global automotive speedometer market is segmented into:
OEM
Aftermarket
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Global Automotive speedometer Market: Regional Overview
Based on the geographies, the global automotive speedometer market is fragmented into seven key regions- Latin America, North America, Eastern Europe, and Western Europe, Middle East & Africa, Asia-Pacific except Japan and Japan. Among the regions mentioned above, North America and Western Europe have the greater share in global automotive speedometer market. Asia-Pacific except Japan is the fastest growing market for automotive speedometer, followed by Japan and Latin America. Eastern Europe will show a steady growth in the global automotive speedometer market. Overall the market for automotive speedometer is expected to have a positive growth owing to growing demand of automotive speedometer in passenger cars. Passenger vehicles segment has the higher rate of usage of an automotive speedometer. Disc brake type is preferred by manufacturers globally.
Global Automotive speedometer Market Players
Some of the market players identified in the global automotive speedometer market include:
Caerbont Automotive Limited
Galaxy Indicators India
Pricol Limited
Speedhut
Bob's Speedometer Service Inc.
US Speedo
Caerbont Automotive Limited
Speedy cables
YAZAKI Europe
Acewell International Co., Ltd.
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