Industry Outlook
The need for optimum fuel utilization and engine performance monitoring urged automotive manufacturers across the globe to incorporate engine speed sensors into their products. This allowed engine speed sensors market to reach market value of US$ 3.7 Bn in 2017 and estimated to touch US$ 4.88 Bn by 2026 with a compound annual growth rate of 3.1%. Although a very small device, engine speed sensors plays a major role in driving modern-day IC engines irrespective of application in which they are used. Advanced electronics and sensors brought a paradigm shift in IC engines and become an integral part that was much needed from environmental and economic point of view. Aforementioned statement is strongly complementing the steady growth of Engine speed sensors and projected to continue its growth in coming years.
Market Synopsis
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Inductive Speed Sensor all Set to make a Comeback in Coming Years
Hall-effect engine speed sensor has a clear dominance because of its price over the other two types in terms of market value and volume. These sensors are quite precise and economical and hence are used in abundance for measuring speed of IC engines. However, with digital printing technology, copper wire can directly be printed into precise winding thus, boosting the significance of inductive sensors. Modern-day inductive sensor is way advanced and economical compared to tradition inductive sensors. Consequently, inductive sensors are growing with a competitive growth rate and expected to make a comeback in Engine speed sensor market in coming years. Optical speed sensor lacks potential and expected to remain lame in comparison with engine speed sensors.
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Automotive Passenger Cars Leads the Way for Engine Speed Sensors Market Growth
Evidently, automotive engines and especially passenger car vehicles are the biggest consumer of engine speed sensors. The segment projected to be on top owing to the perpetual growth in demand for passenger cars and commercial vehicles. Besides, rising demand for advanced two-wheelers, modern-day two-wheeler also claim a significant share in total automotive engine speed sensors market. Other end-use application includes aircraft engines, marine engines and engines for power generation also use these sensors and growing transportation and power generation needs expected to encourage the incorporation of engine speed sensors across aforementioned end-use application at a notable rate.
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Asia Pacific Dictate the Terms of Overall Engine Speed Sensors Market
Asia Pacific is a clear winner in overall engine speed sensors market in terms of production as well as construction. A number of automobiles are produced and consumed in Asia Pacific than ever before complementing the demand for engine speed sensors. The Region projected to continue its reign over the market in coming years with Europe and North America following respectively. Stringent emission norms in Europe and North America forced manufacturers in this region to roll out their product with speed sensors. This further encouraged the steady demand for engine speed sensors in these regions. Rest of the world including Middle East & Africa and Latin America are all set to make a mark in engine speed sensors market in coming years owing to the improving economic conditions and demand for efficient and environmentally friendly technology in IC engines.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Billion |
| Segmentation |
By Type(2016–2026; US$ Bn)
• Hall-effect Sensors
• Inductive Sensors
• Optical Sensors
|
|
By End-use Application (2016–2026; US$ Bn)
• Automotive Engines
o Two Wheelers
o Passenger Cars
o Commercial Vehicles
• Aircraft Engines
• Marine Engines
• Power Generator Engines
|
|
Geography Segment (2016–2026; US$ Bn)
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Engine Speed Sensor Giants Directly have to Compete with Local Manufactures for Survival
Almost every major sensor manufacturing company is confronting issue of competing with local manufacturers. Engine speed sensor is a small and inexpensive component and manufacturing of such components does not require extensive infrastructure or capital input. This allowed entry of several local companies making the market highly fragmented and volatile. Industry giants have to face-off these small unorganized industries in the price wars in cost-sensitive markets of Asia Pacific and other developing regions. Maintaining exceptional quality and expansion of geographical network are few of the various strategies are followed rigorously by big companies in order to maintain their market position. In order to draw meaningful competitive insights, few of the notable players profiles in the research study includes Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., WABCO Vehicle Control Systems, Knorr-Bremse, Mando-Hella Electronics Corp., Hitachi High-Technologies Corporation., Hyundai Mobis, and Aptiv PLC among others.
Key questions answered in this report
- What are up-to-the-minute trends in engine speed sensors market and potential prospects for the players?
- How government regulation and strategies for vehicle emission and fuel consumption affect the global as well as regional engine speed sensors market?
- Which are the largest and fastest growing segment in terms of type and end-user?
- Which are the most lucrative geographical regions/countries for overall engine speed sensors market?
- How will evolving sensor technology participate in changing the scenario of overall engine speed sensors market in coming years?
- What is the market size and trends in developing regions such as Asia Pacific, Middle East & Africa, and Latin America?
