Automotive Position Sensors Market Growth Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

The changing focus of the automotive sector to technological trends such as connectivity, autonomous driving, and electrification is likely to accelerate the demand for automotive position sensors. The growth in vehicle production, increase in demand for vehicle electrification, formulation of strict government regulations related to emissions, and an upsurge in consumer demand for safety and comfort in vehicle

MARKET SCOPE

The "Global Automotive Position Sensors Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive position sensors market with detailed market segmentation by type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive position sensors market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  Based on type, the global automotive position sensors market is segmented into powertrain, chassis, and vehicle body.
  
•  On the basis of application, the market is segmented into engine, power transmission, gear box, and others.
  
•  Based on vehicle type, the market is segmented into passenger cars and commercial vehicles.
  

MARKET DYNAMICS

Drivers:

•  The growing use of alternative fuel vehicles drives the automotive position sensors demand.
  
•  The increasing use of automotive sensors with rising autonomous vehicles is anticipated to bolster the growth of the automotive position sensors market.
  

Restraints:

•  The high manufacturing cost may restrain the growth of the automotive position sensors market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive position sensors market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive position sensors market in these regions.

IMPACT OF COVID-19 ON AUTOMOTIVE POSITION SENSORS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the automotive position sensors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from automotive position sensors market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive position sensors market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Allegro MicroSystems, Inc.
  
•  Analog Devices, Inc.
  
•  BorgWarner Inc.
  
•  Continental AG
  
•  CTS Corporation
  
•  HELLA GmbH and Co. KGaA
  
•  Infineon Technologies AG
  
•  NXP Semiconductors
  
•  Robert Bosch GmbH
  
•  Sensata Technologies, Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Position Sensors Report Scope