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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Automotive Wheel Speed Sensor Market (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

September 13, 2022 GMT

DUBLIN--(BUSINESS WIRE)--Sep 13, 2022--

The “Automotive Wheel Speed Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global automotive wheel speed sensor market reached a value of US$ 7.16 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 9.11 Billion by 2027, exhibiting a CAGR of 4.1% during 2021-2027.

Companies Mentioned

  • BorgWarner Inc.
  • Continental AG
  • DENSO Corporation
  • FTE automotive GmbH (Valeo)
  • Hella KGaA Hueck & Co. (Faurecia SE)
  • Hitachi Metals Ltd. (Hitachi Ltd.)
  • KA Sensors Ltd.
  • NTN-SNR Roulements S.A. (NTN Corporation)
  • Robert Bosch GmbH
  • TE Connectivity
  • ZF Friedrichshafen AG.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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An automotive wheel speed sensor (WSS), also known as a vehicle speed sensor (VSS), measures the speed of the wheels and the direction of rotation of cars. It provides input to different automotive systems, including the anti-lock brake system (ABS) and electronic stability control (ESC) using electrical signals.

It is installed directly above the pulse wheel, which is connected to the wheel hub or the driveshaft. It helps ensure proper driving dynamics, lower fuel consumption, and reduce gas emissions. At present, the automotive WSS finds extensive applications in passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs) across the globe.

The increasing utilization of electric vehicles (EVs), in confluence with significant growth in the automotive sector, represents one of the key factors creating a positive outlook for the market. Moreover, the rising road traffic presents numerous challenges to the drivers, and consequently, there is a rise in the adoption of advanced driver assistance systems (ADAS) that optimize safety on the road.

Automotive WSS is used in ADAS systems, such as ABS, traction control systems (TCS), adaptive cruise control (ACC), and motor control units (MCU), to determine the wheel speed. Besides this, the optimal interaction of these electronic systems ensures the fault-free function of the vehicle and improves traffic security.

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Apart from this, governing authorities of numerous countries are mandating the integration of ABS in automotive vehicles, which is facilitating the growth of the market. Other factors, such as the increasing sales of passenger cars around the world and rising improvements in the performance, materials, mechanics, engines and fuels, aerodynamics, and autonomous control in automotive vehicles, are projected to stimulate the market growth.

Key Questions Answered in This Report:

  • How has the global automotive wheel speed sensor market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global automotive wheel speed sensor market?
  • What are the key regional markets?
  • What is the breakup of the market based on the sensor type?
  • What is the breakup of the market based on the vehicle type?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global automotive wheel speed sensor market and who are the key players?
  • What is the degree of competition in the industry?

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Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Automotive Wheel Speed Sensor Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Sensor Type

7 Market Breakup by Vehicle Type

8 Market Breakup by Region

9 SWOT Analysis

10 Value Chain Analysis

11 Porters Five Forces Analysis

12 Price Analysis

13 Competitive Landscape

13.1 Market Structure

13.2 Key Players

13.3 Profiles of Key Players

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For more information about this report visit https://www.researchandmarkets.com/r/s4hz8f

View source version on businesswire.com:https://www.businesswire.com/news/home/20220913005895/en/

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KEYWORD:

INDUSTRY KEYWORD: GENERAL AUTOMOTIVE VEHICLE TECHNOLOGY PERFORMANCE & SPECIAL INTEREST AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 09/13/2022 09:31 AM/DISC: 09/13/2022 09:32 AM

http://www.businesswire.com/news/home/20220913005895/en