Global Automotive Wheel Speed Sensor Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Magnetoresistive Sensor and Hall Effect Sensor.

By Application;

Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn869489815 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Wheel Speed Sensor Market (USD Million), 2020 - 2030

In the year 2023, the Market was valued at USD 8,144.45 million. The size of this market is expected to increase to USD 10,574.10 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.8%.

The market for automotive wheel speed sensors (WSS) is experiencing significant growth, primarily driven by the surge in road traffic worldwide. These sensors, crucial for detecting wheel speed and rotational direction in vehicles, play a pivotal role in various systems like electronic stability control (ESC) and anti-lock brake systems (ABS). With the increasing adoption of electric vehicles (EVs) and advanced driver assistance systems (ADAS), the demand for WSS is further amplified. Governments mandating safety features like automatic emergency braking (AEB) and electronic stability control (ESC) also contribute to market expansion. The integration of ABS into vehicles is a regulatory requirement in several countries, further bolstering market growth. Factors such as advancements in vehicle technology, rising passenger car sales, and stringent safety regulations are fueling the demand for WSS. These sensors not only enhance driving dynamics and fuel efficiency but also play a vital role in ensuring road safety by facilitating collision detection and automation in vehicles. The market outlook for automotive wheel speed sensors remains positive, driven by the continuous evolution of the automotive industry and the increasing emphasis on vehicle safety.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Automotive Wheel Speed Sensor Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Vehicle Production

        2. Stringent Safety Regulations

        3. Rising Demand for Electric Vehicles (EVs)

        4. Focus on Fuel Efficiency and Emissions Reduction

      2. Restraints
        1. Technological Challenges

        2. Maintenance and Durability Concerns

        3. Data Security and Privacy Issues

        4. Supply Chain Disruptions

      3. Opportunities
        1. Integration with Advanced Driver Assistance Systems

        2. Autonomous Vehicles (AVs) Development

        3. Expansion into Emerging Markets

        4. Data Analytics and Predictive Maintenance

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Wheel Speed Sensor Market, By Type, 2020 - 2030 (USD Million)
      1. Magnetoresistive Sensor
      2. Hall Effect Sensor
    2. Global Automotive Wheel Speed Sensor Market, By Application, 2020 - 2030 (USD Million)
      1. Passenger Cars
      2. Light Commercial Vehicles
      3. Heavy Commercial Vehicles
    3. Global Automotive Wheel Speed Sensor Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of the Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Hyundai Mobis

      2. Bosch

      3. Continental

      4. MOBIS

      5. ZF TRW

      6. AISIN

      7. Delphi

      8. WABCO

      9. Knorr-Bremse

      10. MHE

      11. Hitachi Metal

  7. Analyst Views
  8. Future Outlook of the Market