DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Automotive Sensors Market to 2027 - Regional Analysis and Forecasts by Type; Application; Vehicle Type" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific automotive sensors market accounted for US$ 4.03 Bn in 2018 and is expected to grow at a CAGR of 10.1% over the forecast period 2019-2027, to account for US$ 9.52 Bn in 2027.
The automotive industry has experienced the emergence of several new carmakers over the years. The automotive giants are always eyeballing on the electric vehicle segment as the section has attracted several customers. The electrification of automobiles is ushering the automotive industry and the industries associated with it to a greater extent. The automobile manufacturers, along with several semiconductor manufacturers, are continually innovating and developing advanced semiconductor and electronic solutions to deliver the safest, reliable, and performance-oriented vehicle to their customers.
The automotive OEMs are integrating their vehicle's dashboards, seats, heating systems as well as mirrors with advanced sensors and embedded computers, which is facilitating the sensors industry players to design and develop robust technologies. Sensors are also integrated into areas such as braking system, induction motor, and battery system, among others. With the growing electric vehicle production, the requirement for a large number of semiconductors and other electronics, which might influence the Asia Pacific automotive sensors market.
The Asia Pacific automotive sensors market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the Asia Pacific automotive sensors market.
For instance, the governments of economies in the Asia Pacific region are focusing on manufacturing automobiles and its components in the country itself. For example, with the help of "Made in China 2025,", the government of China is backing the local companies to compete with foreign carmakers and to compete globally.
Furthermore, initiatives by Indian government such as "Make in India" focuses on the manufacturing of products in the country and "Automotive Mission Plan 2016-26", providing government support to the country's growing automotive and its components manufacturing industry. The encouraging automotive manufacturing and the rise in the OEM market impact positively for the growth of the Asia Pacific automotive sensors market.
These initiative provide various benefits to the companies located in the region, thus, increasing the growth of the Asia Pacific automotive sensors market. Different automotive manufacturers are focusing on integrating advanced sensors in their vehicles to attract more customers; this factor is aiding the growth of the Asia Pacific automotive sensors market.
Based on the vehicle type, the passenger car segment is leading the Asia Pacific automotive sensors market. However, the LCV segment is anticipated to grow at the highest CAGR. The heavyweight commercial vehicle (HCV) segment consists of trucks, trailers, mining, and construction vehicles and multi-axle vehicles that have a gross vehicle weight of more than 16.2 tons; these vehicles are used in the long haul transportation and the transportation of materials at the ports and as also in the extraction of natural resources. This category of vehicle is also mostly vulnerable to massive road crashes, due to the heavy load they carry, and it becomes difficult for them to control the movement of the vehicle at times. Thus, the manufacturers these days are more focused on the development of safe and measurable driving systems.
Pertaining to the factors mentioned above, the demand for advanced semiconductor technologies such as technologically robust sensors are steadily rising among the heavyweight commercial vehicle manufacturers, with an objective to enhance the performance, safety, and reliability of these vehicles, various types of sensors are integrated on these vehicles, which is catalyzing the market growth.
The increasing demand for advanced sensors in the HCV segment is expected to create opportunities for companies operating in the Asia Pacific automotive sensors market to gain a strong customer base. Asia Pacific automotive sensor market is highly competitive, with the presence of some of the prominent market players.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Automotive Sensors Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.3 PEST Analysis
4.4 Ecosystem Analysis
5. Asia Pacific Automotive Sensors Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Strategic Alliances between Automotive Manufacturers and Sensor Manufacturers
5.2 Key Market Restraints
5.2.1 Integration of Advanced Sensor Technologies Significantly Rises the Cost of the Vehicles
5.3 Key Market Opportunities
5.3.1 Increasing Manufacturing of Electronic Vehicles is Increasing the Consumption Rate of Advanced Sensors Among the Vehicle Manufacturers
5.4 Future Trends
5.4.1 Acceleration in Connected Car Production is Expected to Create Lucrative Opportunities for Automotive Sensor Manufacturers to Boost their Business
5.5 impact analysis of Drivers and restraints
6. Asia Pacific Automotive Sensors - Market Analysis
6.1 Asia Pacific Automotive Sensors Market Overview
6.2 Asia Pacific Automotive Sensors Market Forecast and Analysis
7. Asia Pacific Automotive Sensors Market Revenue And Forecasts To 2027 - Types
7.2 Asia Pacific Automotive Sensors Market Breakdown, By Types, 2017 & 2027
7.3 LED Market
7.4 Image Sensor Market
7.5 Position Sensor Market
7.6 Temperature Sensor Market
7.7 Pressure Sensor Market
7.8 MEMS Market
7.9 Other Sensors Market
8. Asia Pacific Automotive Sensors Market Revenue And Forecasts To 2027 - Application
8.2 Asia Pacific Automotive Sensors Market Breakdown, By Application, 2017 & 2027
8.3 Advanced Driver Assistance Systems Market
8.4 Body Electronics market
8.5 Powertrain Market
8.6 Safety & Security System market
8.7 Chassis Market
8.8 Others Market
9. Asia Pacific Automotive Sensors Market Revenue And Forecasts To 2027 - Vehicle Type
9.2 Asia Pacific Automotive sensors Market Breakdown, By vehicle type, 2017 & 2027
9.3 Passenger Cars Market
9.4 Lightweight Commercial Vehicle (LCV) Market
9.5 Heavyweight Commercial Vehicle (HCV) Market
10. Asia Pacafic Automotive Sensors Market - Region
11. Industry Landscape
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Asia Pacific Automotive Sensors Market - Key Company Profiles
12.1 Key Facts
12.2 Business Description
12.3 Products and Services
12.4 Financial Overview
12.5 SWOT Analysis
12.6 Key Developments
- ANALOG Devices Inc.
- Continental AG
- DELPHI TECHNOLOGIES PLC
- Denso Corporation
- Infineon Technologies
- NXP Semiconductors NV
- ON Semiconductors
- Robert Bosch GmbH
- Texas Instruments Incorporated
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