Growing demand for convenient features in the vehicles have been significantly driving the production rate in automotive position sensor market throughout the globe. Surging need has been observed for accelerator pedal and transmission as it offers additional convenient experience to the driver. Sensor on accelerator pedal helps in transmitting the position of accelerator pedal to ECU (engine control unit) and the load requested by driver can be immediately implemented.
Cost Cutting To Be Prime Focus
High costs related to automotive position sensor restricts its usage in vehicles that are striving towards cost-cutting, which in turn restrains automotive position sensor market on a major basis. On the road to 2028, with regards to cost pressure and complexity, emergence of more platform sharing as well as more modular systems are expected to take place, thereby impacting on the demand supply in automotive position sensor market. Regulatory pressures are likely to tighten up more and the prices of automotive position sensor in the established markets are expected to be flat.
How Has Linear Position Sensors Being Witnessing Significant Traction?
Well, according to an ongoing study, linear position sensors are expected to hold a significant share in automotive position sensor market on account of increasing integration in various systems and this trend is likely to develop at a remarkable pace with surging passenger vehicle production. These sensors have been witnessing growing demand from the applications wherein linear motion of components have been closely monitored. For instance, the throttle position sensor.
Development of smart position sensors are expected to remain as a notable trend in automotive position sensor market. Key players such as ams have developed high-performance sensor solutions such as AS5200L, which is highly beneficial for automotive applications on a larger basis. This dual-die magnetic position sensor is of rotary type that consists of an I2C interface, which helps in emergence of the new space-saving designs across the safety-critical applications in automotive industry. Development of such smart position sensors are expected to grab customer attention in automotive position sensor market in the forthcoming years.
Stringent Regulations to Beef up Revenue Sales
Stringent regulations with regards to emission control is expected to be one amongst the notable stimulators in automotive position sensor market. Surging number of health and environmental concerns has been influencing several regions in automotive position sensor market throughout the globe for introducing stringent emission norms. Reducing automotive emissions along with fuel consumption rates have been the primary objective behind setting of stringent emission norms, thereby benefitting automotive position sensor market on a broader aspect. Moreover, these legislations are expected to mandate implementation of advanced and innovative powertrain technologies, which in turn again, supports in driving the adoption of position sensor in the emerging vehicles.
Developing economies such as India have been taking immense efforts in implementing the stringent regulations, which in turn would positively impact on automotive position sensor market throughout the globe. For instance, Indian government had introduced adoption of the BS-VI norms, thereby eliminating BS-V norms by the end of 2020.
Brief-Highlight on On-Going Competitive Landscape
Automotive position sensor market is likely to grow at a remarkable pace with increasing number of international vendors, leading to rapidly increasing competition amongst automobile manufacturers. Rising number of implementation of innovative emission reduction technologies and engine control systems, which helps in distinguishing them from one another is turning out to be the new focus of the key players in automotive position sensor market. Most of all, increasing number of legislation standards with regards to emission control are expected to provide robust growth opportunities to the vendors in automotive position sensor market during the forecast period from 2018 to 2028.
On-going comprehensive research on automotive position sensor market on a global basis is likely to showcase detailed analysis on automotive position sensor market with exclusive insights on drivers, restraints, trends and opportunities in the global market.