In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
Automotive Crash Sensors are essential components of automotive electronic control systems. They possess a safety feature in harsh and challenging environment. These sensors are the devices that transform (or transduce) physical quantities such as pressure or acceleration into output signals (usually electrical) that serve as inputs for control systems. The Automotive Crash Sensors are growing at a very high pace due to the increase in demand and sale of the automotive vehicles. With fast technological advancement, innovation and customer awareness about safety and security, automotive crash sensor market is expected to develop globally. Asia Pacific will emerge as the quickest growing location in automotive crash sensor market.
The automotive crash sensors market, in terms of value, is expected to grow from USD 22.94 Billion in 2016 to USD 49.32 Billion by 2027, at a CAGR of 8.1% between 2017 and 2027. Growing demand of customer comfort, safety, convenience and improving government safety requirements are some of the factors that stimulate the automotive crash sensors market globally. Also, high efficiency and cheaper price of new generation sensor is expected to encourage the market growth. The global automotive crash sensors market is studied for the Asia Pacific (China, Japan, India and rest of Asia Pacific), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World. Asia Pacific is projected to register the largest market share and is anticipated to grow with a highest CAGR during the forecast period attributed to rising demand for safer vehicles, growing automobile industry and growing population in emerging economies such as China and India. The Asia-Pacific automotive sensors market is expected to grow to USD 7.1 Billion by 2027 at a CAGR of 9.10% over the period 2017-2027. The region was able to sustain its economy during the financial crisis and therefore, has been at the forefront in terms of vehicle sales and production across the globe. North America is expected to witness a rapid growth over the forthcoming period due to infrastructure development which is propelling the market growth of automotive crash sensors in the forecast years. The rising economy of Mexico has been at the forefront in terms of inward foreign direct investments when it comes to the automotive industry over the past few years. Whereas, the European countries are emerging automotive sensors markets due to increasing demand for more efficient and safer vehicles. With the increasing popularity of vehicle automation and increasing demand for connected cars in the region, the demand for automotive sensors is expected to grow significantly during the forecast period.
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Our-in depth analysis of the global automotive crash sensors market includes the following segments:
Global automotive crash sensors station market is further classified on the basis of region as follows:
Technological advancement in automotive crash sensors, usage of ECU’s, customer awareness towards their comfort and safety, change in their lifestyle are the key factors that has stimulate the demand of automotive crash sensors. One of the key elements appearing as a growth driver for the world automotive sensors market is the upward thrust in stringent rules mandating the integration of devices and technologies that make riding a safer ride for the driver as well as passengers. Passenger car holds the largest share in automotive crash sensors market, i.e. 78%. Automotive crash sensors provide the safety features to the car, reducing the emission and increasing the life of the automobile. Passenger cars are relatively cheaper to other cars so increase in purchasing power of customer; demand for safer vehicles has increased the automotive crash sensors market.
Developing countries such as China and India plays a major role in the growth of automotive crash sensors market. China is expecting 40 million vehicle sales by 2025 and wants new energy vehicles to make up at least 25% of that total market. Key factors that act as barriers to the growth of automotive crash sensors market are high rates of repairing malfunctioning in complex automotive sensors. High installing rates, lack of safety and security norms and less production are some of the challenges that automotive crash sensors market is facing.
Overview of the Parent Market
Analyst View
Segmentation
The global automotive crash sensors market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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