According to a new market research report published by Credence Research “Engine Speed Sensors Market (by Type: Hall-effect Sensors, Inductive Sensors and Optical Sensors; by End-use Application: Automotive Engines (Two Wheelers, Passenger Cars and Commercial Vehicles), Aircraft Engines, Marine Engines, Power Generator Engines) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the engine speed sensors market was valued US$ 3.7 Bn in 2017 and estimated to grow with a CAGR of 3.1% during the forecast period from 2018 to 2026.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
The global automotive industry is witnessing a move from developed regions to emerging regions with on-road motor vehicles increasing to 100 Mn. Most of the cars are powered by conventional or hybrid IC engines and are fitted with advanced sensors and electronics. Such electronic devices have turned the gas-wrapping picture of IC engines into efficient and powerful power plants used in a variety of end-user applications. The Engine Speed Sensors are one such system without which a modern IC engine can not be imagined. It plays a vital role in maintaining camshaft position, ignition timing, fuel injection timing and ratio and expanding its services to smooth anti-lock braking systems (ABS) operation in automobiles. With several uses, the engine speed sensor has become an essential part of the advanced IC technology, and its demand is not expected to cease anytime soon.
Engine speed sensors help to ensure optimal combustion of fuel and therefore help to control harmful emissions. This was a much-needed relief for the automobile and IC engine manufacturers of IC engine manufacturers in line with strict government emission and fuel consumption requirements. The regulation, framed by the governing bodies in the European Union and the United States, was able to be followed by engine speed sensors. Such legislation is being enforced across a range of developing nations that will further boost the market for engine speed sensors. Many countries are determined to stop the production of IC engine-powered vehicles, but IC engines will soon be out of business, thereby increasing the commercial life of the engine speed sensors industry.
Various elements of the value chain face intense competition in the highly fragmented market and the demand for engine speed sensors is no exception to this trend. Several well-established engine speed sensor manufacturers have to face intense competition for their supremacy with local companies. Price-wars, particularly in price-sensitive markets, are taking a significant toll on the profit margins of large companies. Nonetheless, the gradation and quality of the product are two of the many factors that help the business thrive in such a strangulating environment.
Some of the major notable market participants profiled in this research study include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., WABCO Vehicle Control Systems, Knorr-Bremse, Mando-Hella Electronics Corp., Hitachi High-Technologies Corporation., Hyundai Mobis, and Aptiv PLC among others.
Key Analysis Covered:
Latest trends in engine speed sensors market and growth prospects for sensor and IC engine manufacturers
Stringent government regulations and growing demand for advanced automobiles creating a positive impact on engine speed sensors market
Different type, availability, and application of engine speed sensors used across several IC engines and their market estimations
Largest and fastest growing segments in terms of type and end-user
Most prominent geographical regions/ countries for the engine speed sensors market