Passenger-car sensors market to reach $146 billion by 2019

The passenger car sensors market (including sensors used in powertrain/drivetrain, exhaust, interior/comfort, advanced-driver-assist-system (ADAS), and body-control applications) will be worth $146.51 billion by 2019, according to MarketsandMarkets. The market-research and consulting firm describes the market for pressure, temperature, speed, O2, NOX, position, and other sensors for automotive applications in a new report. The report also breaks down the market by region (Asia-Pacific, Europe, North America, and ROW).

The company notes (via PRWeb), “The Asia-Pacific region has been the largest contributor to the automotive industry's growth over the past few years. The recent financial meltdowns in the developed regional markets such as Europe and North America have further intensified the focus of automotive OEMs on the region. The Asia-Pacific region was able to sustain its economy during the financial crisis and therefore has been at the forefront in terms of vehicle sales and production across the globe. The growing economy and advancements in the regulatory framework in the region has also helped the passenger car sensors market's boom in the region. The Asia-Pacific region is expected to remain the largest market for passenger car sensors for the next five years.”

The company also says, “Safety regulations across the globe are making it mandatory for automotive OEMs to employ technologies such as ABS, ESC, and TPMS in their vehicles. This has created a huge client base for passenger car sensors manufacturers in the form of global automotive OEMs. The rising demand for driver-assistance system sensors is further intensified by the demand for these systems at the customer's end. This segment of the market therefore provides the largest potential for the passenger car sensors manufacturers to capitalize on.”

See the related article “Sensors support tomorrow's technical advances,” which reports on automotive and other sensors on display at this year's Sensors Expo and Conference.

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