According to a new market report by Lucintel, the future of the global wheel speed sensor market looks promising with opportunities in the automobile industry. The global wheel speed sensor market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 4% from 2020 to 2025. The major growth drivers for this market are increasing automotive production, need for enhancement safety features, and rapid adoption of advanced breaking systems.
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In this market, active and passive are the major product types.
Within the wheel speed sensor market, passenger cars and commercial vehicles are the two vehicle type segments.
Asia Pacific is expected to witness the highest growth over the forecast period, supported by growth of the automotive industry.
Robert Bosch GmbH, Hella, Continental AG, Hyundai, ZF Friedrichshafen, Aisin Seiki, Delphi Technologies, WABCO Vehicle Control Systems, and Knorr-Bremse are among the major manufacturers of the wheel speed sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wheel speed sensor market by product type, vehicle type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Wheel Speed Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global wheel speed sensor market by product type, vehicle type, and region as follows:
By Product Type [$M shipment analysis for 2014 – 2025]:
By Vehicle Type [$M shipment analysis for 2014 – 2025]:
Passenger Cars
Commercial Vehicles
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.