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USA Motor Vehicle Sensors Market is expected to reach USD 6.29 billion by 2020 Globally Research by Hexa Reports

“U.S. motor vehicle sensors market” is characterized by a high degree of innovation by key market players in order to develop sensors-based systems for relatively new and untapped market segments. Favorable government mandates pertaining to emission standards and safety are expected to drive the market over the forecast period.

U.S. motor vehicle sensors market is expected to reach USD 6.29 billion by 2020. Favorable government mandates pertaining to emission standards and safety are expected to drive the market over the forecast period. 

Enhancement of Corporate Average Fuel Economy (CAFE) standards coupled with new regulations mandating the incorporation of Electronic Stability Control (ESC) systems in light vehicles is expected to play a pivotal role in the U.S. motor vehicle sensors market growth. Passage of The Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act, directing adoption of Tire Pressure Monitoring System (TPMS) in new vehicles is expected to increase sensor sales. Owing to the need for periodical replacement of TPMS and oxygen sensors, aftermarket sensor sales are expected to constitute a substantial market share, thereby supplementing the high demand for motor vehicle sensors from OEMs. 

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Further key findings from the study suggest: 

  • Physical property motor vehicle sensors accounted for over 25% of the overall market revenue share in 2013; the high demand can be attributed to increased use in monitoring intrinsic physical properties of media such as pressure, temperature, and moisture resulted in high demand for physical property sensors. Process variable motor vehicle sensors are expected to witness significant growth over the forecast period, as they are vital components in TPMS.
  • Engine & drive train contributed to over 35% of the overall market revenue share in 2013, due to increased use of motor vehicle sensors in harsh environments for measuring vital parameters including oil pressure, intake air temperature, fuel injection pressure, and coolant temperature. Sensors used for engine & drive train applications help lowering emissions and improving gas mileage by controlling engine function and efficiency. Safety & security applications are expected to witness high growth over the forecast period owing to increased adoption of features such as TPMS, rollover detection, ESC, and anti-lock brake.
  • The U.S. motor vehicle sensors market is characterized by a high degree of innovation by key market players in order to develop sensors-based systems for relatively new and untapped market segments. For instance, in August 2012, GE, Ford Motors and University of Michigan collaborated to develop sensors for monitoring electric vehicles’ battery life. GE has started development work for resilient and lightweight sensor-based systems, capable of withstanding intense heat, vibrations and shock, to be incorporated in Formula One racing cars. Other key vendors in the motor vehicle sensors market include Tyco International, Rockwell Collins, Northrop Grumman, Johnson Controls, Honeywell International, Denso Corporation, Delphi Corporation, Bosch, and Agilent Technologies. 

About Us:

Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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Contact Person: Ryan Shaw
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Country: United States
Website: http://www.hexareports.com/report/usa-motor-vehicle-sensors-market/details

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