Automotive Wheel Speed Sensor Market by Type (Hall Effect Wheel Speed Sensor, Magneto Resistive Wheel Speed Sensor), Application (Commercial Vehicles, Passenger Cars), End-use - Global Forecast 2024-2030

Automotive Wheel Speed Sensor Market by Type (Hall Effect Wheel Speed Sensor, Magneto Resistive Wheel Speed Sensor), Application (Commercial Vehicles, Passenger Cars), End-use - Global Forecast 2024-2030

The Automotive Wheel Speed Sensor Market size was estimated at USD 7.89 billion in 2023 and expected to reach USD 8.30 billion in 2024, at a CAGR 5.51% to reach USD 11.48 billion by 2030.

The automotive wheel speed sensor encompasses the manufacturing and distribution of electronic components used to measure the rotational speed of a vehicle's wheels. These sensors are a critical part of the anti-lock braking system (ABS), electronic stability control (ESC), and traction control system (TCS), thereby playing a pivotal role in automotive safety technologies. Wheel speed sensors help in ensuring optimal braking and handling performance by providing essential inputs to the vehicle's onboard computer systems. The market has been segmented based on the type of sensor, application, end-use, and geography. Increasing global vehicle production to meet consumer demand with the imposition of stringent safety norms by various governments, including ABS, ESC, and TCS, has been a significant driving force for the market. Consumer awareness and demand for enhanced vehicle safety systems propel the growth of the automotive wheel speed sensor market. The high level of complexity involved in the integration of wheel speed sensors poses a challenge for the growth of the market. The additional cost of advanced sensor systems, particularly for budget vehicles, can also limit the market reach. Growing development of new materials and technologies for sensors to further improve accuracy and durability in diverse operating conditions are expected to create opportunities for market growth.

Regional Insights

The Asia Pacific region is a significant region for the automotive wheel speed sensor market, driven by leading automotive manufacturing countries such as China, Japan, and India. Consumer needs in this region are heavily inclined toward vehicle safety features, fuel efficiency, and compliance with stringent automotive safety norms. China, as the largest vehicle market, shows a strong demand for advanced driver assistance systems (ADAS), which in turn fuels the need for quality wheel speed sensors. Japan, known for its technological advancements, focuses on innovation, which leads to a high adoption rate of new technologies in vehicles. Similarly, India is experiencing growth in its automotive industry with a noticeable increase in consumers' awareness and demand for vehicle safety features.

In the Americas, the market is characterized by an established automotive industry with a high demand for vehicles equipped with advanced safety systems. Customers in this region prioritize the robustness and long-term reliability of vehicle components due to the diverse climate conditions and road infrastructure. There is a healthy demand for high-end automobiles that incorporate a higher number and variety of wheel speed sensors for various applications beyond traditional ABS systems, such as traction control and electronic stability control. In the EMEA region, the market is diverse, with mature markets in EU countries and emerging markets in the Middle East and Africa. In the EU, there is a strong regulatory framework that mandates certain safety features in vehicles, thus ensuring a steady demand for wheel speed sensors. Consumers in these countries emphasize environmental standards and safety, driving demand for high-performance sensors. Research and development in the region are advanced, with numerous patents filed focusing on improving the integration of wheel speed sensors with other vehicle components to enhance overall system performance and reliability.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Wheel Speed Sensor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising production and sale of automated and connected vehicles globally
• Increasing awareness of safety and prevalence in the number of road accidents
• Growing adoption of ABS in passenger vehicles

Market Restraints

• High cost of installation and maintenance issues with automotive wheel speed sensor

Market Opportunities

• Technological advancements in automotive wheel speed sensor
• Favorable government regulations related to passenger safety

Market Challenges

• Rising presence of counterfeit goods

Market Segmentation Analysis

• Type: Growing expansion of the hall effect sensors that provide a clean digital signal
• Application: Rising demand for automotive wheel speed sensors in commercial vehicles that are robust and last over extensive periods
• End-use: Increasing significance of automotive wheel speed sensors across original equipment manufacturers that involves the installation of wheel speed sensors during the assembly and production of vehicles

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Wheel Speed Sensor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Wheel Speed Sensor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Cerebrum’s Launches IoT Tyre Sensor Technology

Cerebrum Sensor Technologies has announced the successful deployment of their innovative Intelligent Tire Solutions, an Internet of Things (IoT)-enabled tire sensor system, with premier automotive and tire manufacturers. This comprehensive suite harnesses advanced tire sensors aligned with unique algorithms to provide real-time insights into various tire parameters. The technology adeptly tracks critical indicators such as tire pressure, temperature, tread depth, vehicle load, and alignment, thus promoting enhanced vehicle safety, performance, and maintenance. Through its deployment with industry-leading Original Equipment Manufacturers (OEMs), Cerebrum’s solution is setting a new standard in tire monitoring and vehicle IoT applications.

Uno Minda Joins Asentec To Make Wheel-speed Sensors

Uno Minda forged a technical licensing partnership with Asentec, a subsidiary of Sejong Industrial and a premier global provider of automotive sensors and actuators. This alliance underscores Uno Minda's commitment to addressing the burgeoning demand for advanced sensor technologies within India's automotive sector. By leveraging Asentec's specialized expertise—which encompasses cutting-edge mobility components from facilities across Korea, Vietnam, and China—Uno Minda aims to create a robust product portfolio that includes state-of-the-art wheel-speed sensors.

Allegro Announces First-to-Market High-Resolution GMR Wheel Speed and Distance Sensor for ADAS Applications

Allegro MicroSystems, Inc. recently unveiled the A19360, an advanced wheel speed and distance sensor explicitly designed for next-generation applications within advanced driver assistance systems (ADAS). Leveraging state-of-the-art giant magnetoresistance (GMR) technology, the A19360 sensor promises to provide unparalleled signal accuracy and dependability. This development is set to significantly benefit the automotive industry by enhancing automation capabilities in both passenger vehicles and mobility-as-a-service platforms, thereby reinforcing safety and performance standards in line with futuristic transportation trends.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Wheel Speed Sensor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Wheel Speed Sensor Market, highlighting leading vendors and their innovative profiles. These include Allegro MicroSystems, Inc., Analog Devices, Inc., Continental AG, Delphi Group, DENSO Corporation, ELMOS Semiconductor SE, Feddermann & Lankau GmbH, Fujikura Europe Ltd, HELLA GmbH & Co. KGaA, Hitachi, Ltd., Infineon Technologies AG, Magna International Inc., Mechatronics Group Pty Ltd, Melexis NV, NTN Corporation, NXP Semiconductors N.V., OPTIMAL Automotive GmbH, PEC Australia, PROTERIAL, Ltd., Ridex GmbH, Robert Bosch GmbH, Sensata Technologies, Inc., TE Connectivity Ltd., and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive Wheel Speed Sensor Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Hall Effect Wheel Speed Sensor
• Magneto Resistive Wheel Speed Sensor
• Application
• Commercial Vehicles
• Passenger Cars
• End-use
• Automotive Aftermarket
• Automotive OEMs

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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