Vancouver, British Columbia, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The Global Commercial Vehicle Sensors Market is forecast to be worth USD 9.55 Billion by 2027, according to the current analysis by Emergen Research. The global commercial vehicle sensors market is expected to expand at a substantial rate in the forecast period due to the growing customer demand for vehicle security and comfort. Besides, the increasing introduction of stringent regulatory pollution standards is also expected to fuel the market growth over the forecast timeframe. The rise in the use of vehicle sensors with the rising adoption of automated vehicles is expected to further stimulate market growth over the forecast timeframe. In advanced technologies like ADAS, lane departure warning advanced sensors are uses widely; thus, the demand for commercial vehicle sensors will be propelled.
The safety threats in autonomous vehicles are expected to impede the growth of the market throughout the forecast period.
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Key Highlights From The Report
- In October 2020, DENSO Corporation has announced the development of its factory-IoT network, linking 130 manufacturing factories globally to IT and IoT technology. It will enable DENSO Corporation to improve the global supply chain, enabling factories to adapt to shifts in the manufacturing process quickly depending on local demand, while enabling production teams to monitor the movement of employees and working conditions of various facilities in real-time by linking factories all over the globe on cloud.
- It is expected that the Pressure Sensor segment will experience substantial growth. The pressure sensor is the most important sensor in vehicles for all core parts of the engine, such as the frame, power train, and body system.
- It is estimated that the aftermarket segment will see steady growth over the forecast timeframe, as customers will receive customized sensors, and it is reasonably economical.
- It is anticipated that the Chassis & Safety segment will see significant growth over the forecast period. The demand for sensors in chassis & safety applications for commercial vehicles is driven by required rules and regulations, including the implementation in commercial vehicles of electronic stability systems, lane-departure, and emission control systems.
- Due to the presence of many industry leaders in this area, such as Robert Bosch GmbH, IAV GmbH, and Continental AG, Europe is expected to experience steady market growth. Besides, owing to the increasing government concern for low-emission vehicles, the market is likely to progress significantly over the forecast period.
- Key participants include Continental AG, DENSO Corporation, Sensata Technologies, Robert Bosch GmbH, Hella KGaA Hueck & Co., TE Connectivity Ltd., Delphi Automotive Systems LLC, Bourns, Inc., Stoneridge, Inc., and IAV GmbH, among others.
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Emergen Research has segmented the Global Commercial Vehicle Sensors Market on the basis of type, sales channel, application, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Temperature
- Motion
- Level
- Position
- Image
- Microelectromechanical systems
- Pressure
- Others
- Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
- OEMs
- Aftermarket
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Powertrain
- Telematics
- Chassis & Safety
- Body Electronics
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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