Automotive Wheel Speed Sensor Market worth $11.48 billion by 2030, growing at a CAGR of 5.51% - Exclusive Report by 360iResearch

The "Automotive Wheel Speed Sensor Market by Type (Hall Effect Wheel Speed Sensor, Magneto Resistive Wheel Speed Sensor), Application (Commercial Vehicles, Passenger Cars), End-use - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Automotive Wheel Speed Sensor Market to grow from USD 7.89 billion in 2023 to USD 11.48 billion by 2030, at a CAGR of 5.51%.

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The automotive wheel speed sensor encompasses the manufacturing and distribution of electronic components used to measure the rotational speed of a vehicle's wheels. These sensors are a critical part of the anti-lock braking system (ABS), electronic stability control (ESC), and traction control system (TCS), thereby playing a pivotal role in automotive safety technologies. Wheel speed sensors help in ensuring optimal braking and handling performance by providing essential inputs to the vehicle's onboard computer systems. The market has been segmented based on the type of sensor, application, end-use, and geography. Increasing global vehicle production to meet consumer demand with the imposition of stringent safety norms by various governments, including ABS, ESC, and TCS, has been a significant driving force for the market. Consumer awareness and demand for enhanced vehicle safety systems propel the growth of the automotive wheel speed sensor market. The high level of complexity involved in the integration of wheel speed sensors poses a challenge for the growth of the market. The additional cost of advanced sensor systems, particularly for budget vehicles, can also limit the market reach. Growing development of new materials and technologies for sensors to further improve accuracy and durability in diverse operating conditions are expected to create opportunities for market growth.

End-use: Increasing significance of automotive wheel speed sensors across original equipment manufacturers that involves the installation of wheel speed sensors during the assembly and production of vehicles

The automotive aftermarket represents the secondary market of the automotive industry, dealing with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories. Wheel speed sensors in the aftermarket are largely driven by the need for replacement due to wear and tear, accidents, or failure of the existing sensors. Customers in this segment often prioritize cost-effectiveness, compatibility with their vehicle model, and ease of installation. The automotive original equipment manufacturers (OEMs) segment involves the installation of wheel speed sensors during the assembly and production of new vehicles. In this category, the preference is for highly reliable, durable, and precise sensors that can be seamlessly integrated into the vehicle's system. OEMs typically require sensors that meet stringent quality standards and regulations.

Type: Growing expansion of the hall effect sensors that provide a clean digital signal

The hall effect wheel speed sensor is a type of sensor that uses the Hall Effect principle to measure the wheel speed. It generates a digital signal that is directly proportional to the magnetic field strength around it. As a toothed wheel rotates, the interruptions in the magnetic field are sensed by the Hall element, creating a digital output that indicates speed. Magneto resistive (MR) wheel speed sensors are based on the magneto resistive effect involving ferromagnetic materials, which change resistance in the presence of a magnetic field. They provide a sinusoidal output that can accurately measure wheel speed at very low speeds and even detect the direction of rotation, which is crucial for vehicle stability and traction control systems.

Application: Rising demand for automotive wheel speed sensors in commercial vehicles that are robust and last over extensive periods

In the commercial vehicle segment, wheel speed sensors are critical for functionalities such as anti-lock braking system (ABS), electronic stability control (ESC), and electronic brakeforce distribution (EBD). The need-based preference for commercial vehicles primarily focuses on durability, reliability, and longevity, considering the heavy usage and longer operation hours. Commercial vehicle operators prioritize sensors that can withstand harsher environments and provide consistent performance. In the passenger car segment, the emphasis is on enhancing driver safety vehicle performance, and complying with regulatory standards. Consumers tend to prefer vehicles with advanced safety features, and wheel speed sensors are integral to systems including ABS and Traction Control Systems (TCS).

Regional Insights:

The Asia Pacific region is a significant region for the automotive wheel speed sensor market, driven by leading automotive manufacturing countries such as China, Japan, and India. Consumer needs in this region are heavily inclined toward vehicle safety features, fuel efficiency, and compliance with stringent automotive safety norms. China, as the largest vehicle market, shows a strong demand for advanced driver assistance systems (ADAS), which in turn fuels the need for quality wheel speed sensors. Japan, known for its technological advancements, focuses on innovation, which leads to a high adoption rate of new technologies in vehicles. Similarly, India is experiencing growth in its automotive industry with a noticeable increase in consumers' awareness and demand for vehicle safety features. In the Americas, the market is characterized by an established automotive industry with a high demand for vehicles equipped with advanced safety systems. Customers in this region prioritize the robustness and long-term reliability of vehicle components due to the diverse climate conditions and road infrastructure. There is a healthy demand for high-end automobiles that incorporate a higher number and variety of wheel speed sensors for various applications beyond traditional ABS systems, such as traction control and electronic stability control. In the EMEA region, the market is diverse, with mature markets in EU countries and emerging markets in the Middle East and Africa. In the EU, there is a strong regulatory framework that mandates certain safety features in vehicles, thus ensuring a steady demand for wheel speed sensors. Consumers in these countries emphasize environmental standards and safety, driving demand for high-performance sensors. Research and development in the region are advanced, with numerous patents filed focusing on improving the integration of wheel speed sensors with other vehicle components to enhance overall system performance and reliability.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Automotive Wheel Speed Sensor Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Wheel Speed Sensor Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Automotive Wheel Speed Sensor Market, highlighting leading vendors and their innovative profiles. These include Allegro MicroSystems, Inc., Analog Devices, Inc., Continental AG, Delphi Group, DENSO Corporation, ELMOS Semiconductor SE, Feddermann & Lankau GmbH, Fujikura Europe Ltd, HELLA GmbH & Co. KGaA, Hitachi, Ltd., Infineon Technologies AG, Magna International Inc., Mechatronics Group Pty Ltd, Melexis NV, NTN Corporation, NXP Semiconductors N.V., OPTIMAL Automotive GmbH, PEC Australia, PROTERIAL, Ltd., Ridex GmbH, Robert Bosch GmbH, Sensata Technologies, Inc., TE Connectivity Ltd., and ZF Friedrichshafen AG.

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Market Segmentation & Coverage:

This research report categorizes the Automotive Wheel Speed Sensor Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Hall Effect Wheel Speed Sensor and Magneto Resistive Wheel Speed Sensor. The Magneto Resistive Wheel Speed Sensor is projected to witness significant market share during forecast period.

Based on Application, market is studied across Commercial Vehicles and Passenger Cars. The Commercial Vehicles is projected to witness significant market share during forecast period.

Based on End-use, market is studied across Automotive Aftermarket and Automotive OEMs. The Automotive Aftermarket is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.22% in 2023, followed by Asia-Pacific.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Wheel Speed Sensor Market, by Type
7. Automotive Wheel Speed Sensor Market, by Application
8. Automotive Wheel Speed Sensor Market, by End-use
9. Americas Automotive Wheel Speed Sensor Market
10. Asia-Pacific Automotive Wheel Speed Sensor Market
11. Europe, Middle East & Africa Automotive Wheel Speed Sensor Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Automotive Wheel Speed Sensor Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Wheel Speed Sensor Market?
3. What is the competitive strategic window for opportunities in the Automotive Wheel Speed Sensor Market?
4. What are the technology trends and regulatory frameworks in the Automotive Wheel Speed Sensor Market?
5. What is the market share of the leading vendors in the Automotive Wheel Speed Sensor Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Wheel Speed Sensor Market?

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