Wheel Speed Sensor Market Analysis - Global Industry Size, Share, Trends and Forecast 2020 - 2027

Flourishing automotive sector across the globe, changing government regulation related to vehicle standards and passenger safety and increase vehicle sale in developing countries are major factors expected to drive the growth of global wheel speed sensor market.

Automotive sector is witnessing rapid advancements with the high penetration of electric vehicle in developed countries and demand for ABS system, vehicle monitoring system, etc. is gaining momentum. Manufactures are focused on delivering the technologically advanced products with better driving experience and enhanced safety. Government of developing countries is enforcing strict rules related to vehicles safety. According to The Union road transport ministry from July 1, 2019, all vehicles will be equipped with airbags, seat-belt reminders, and alert systems for speeds beyond 80kmph. This initiative is to help reduce the road accidents. Major players are focused on enhancing the business through introduction of new products and partnerships this is expected to augment the growth of wheel speed sensor market.

In 2020, Carlson an automotive product manufacturer launched ABS wheel speed sensors and added a new product to its existing breaks product line the products are available for sale in North America. This is expected to help the company to strengthen its position in North America.

In 2019, Allegro Microsystems, Inc. a global developer of advanced semiconductor devices launched A19250 and A19350 their latest wheel speed sensor product line. This product launch is expected to help the company to enhance the business and increase the customer base.

Players are highly focused on enhancing the manufacturing capabilities in order to deliver the rising demand for speed sensors. Changing vehicle safety norms in emerging economies is expected to increase demand for ABS and ESC systems. Manufactures are investing high for plant expansion in order to deal with the changing automotive industry. In 2019, Continental AG global automotive players in Manesar plant established in India reached a milestone of producing one million speed sensor units a month. The company significantly increasing its capacity to produce speed sensors at its plant to meet the growing demand caused by recent safety and emission legislations in India. In addition, major players are focused on shifting the manufacturing units to developing countries due to easy availability of raw material and low cost labor this is expected to augment the growth of target market. Factors such as high cost of product and rising prices of vehicles are expected to hamper the growth of global wheel speed sensor market. In addition, fluctuating raw material prices is expected to challenge the growth of wheel speed sensor market.

High investment by major players for delivering technologically advanced product and increasing electric vehicle sale in developing countries are factors expected to create new opportunities for players operating in wheel speed sensor market. In addition, increasing focus on enhancing the business through partnerships in order to strengthen the distribution channel is expected to support the revenue transaction of target market.

Segment Analysis by Region

The market in Asia Pacific is expected to account for major revenue share in the global wheel speed sensor market due to rising passenger vehicle sale in the region. In addition, changing government regulations related to automotive sector and introduction of innovative solutions from players is expected to support the growth of regional market. In 2019 the government of India passed a safety regulations mandating ABS in all passenger cars and 2-wheelers upwards of 125cc caused a spike in demand for wheel speed sensors.

Major players focus towards tracking the untapped market in emerging economies is expected to support the growth of wheel speed sensor market.

Competitive Landscape      

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Wheel Speed Sensor Market Segment Analysis, 2019

The global wheel speed sensor market is segmented into sensor type and vehicle type. The sensor type segment is bifurcated into passive sensor and active sensor. Among the sensor type the active sensor segment is expected to account for significant revenue share in the global market. The passenger vehicle segment is divided in to passenger car and commercial vehicles. Among the passenger vehicle the passenger vehicle segment is expected to account for major revenue share in the target market.

The players profiled in the report Robert Bosch GmbH, Continental AG, WABCO, Denso Corporation, ZF Friedrichshafen AG, NTN-SNR, Melexis, HELLA KGaA, Delphi Automotive PLC, NXP Semiconductors N.V, InnoSenT, First Sensor AG and Hitachi Metal.

Market Segmentation

Market By Sensor Type

Passive Sensor

Active Sensor

Market By Vehicle Type

Passenger Car

Commercial Vehicles

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa