Commercial Vehicle Sensors Market to be Worth USD 9.55 Billion by 2027

The global commercial vehicle sensors market is estimated to be valued at USD 9.55 Billion by 2027 from USD 5.80 billion in 2019, registering a CAGR of 6.9% through the forecast period. This growth is attributable to the increasing vehicle demand and production globally, coupled with increasing adoption of sensors in the automotive industry. The market for commercial vehicle sensors is estimated to gain momentum due to factors, such as the rising demand for electric vehicles and adoption of advanced sensor technologies, which is expected to remain the same in the coming years.

However, the decline in consumer demand, coupled with higher inclination towards diesel-based automotive, is restraining the growth of the global commercial vehicle sensors market. Nonetheless, the demand for commercial vehicle sensors is estimated to witness an elevation owing to the growing adoption of alternative fuel vehicles.

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Key Highlights from Report

• In May 2019, TE Connectivity Ltd. acquired Alpha Technics, Inc. Through this acquisition, TE connectivity is looking for extension of its expertise in sensor applications.
• The position sub-segment is estimated to expand at a CAGR of 7.2% during the forecast period. This growth is attributable to the capability to monitor a gear’s speed, detect the closed and open placing of the vehicle window, and assess the situation of a platform.
• The OEMs sub-segment is projected to hold the largest market share in the overall commercial vehicle sensors market. This growth is attributable to the rising demand from customers for high-quality goods in OEM.
• The powertrain sub-segment is projected to acquire leading market share in 2019 and to retain its dominance over the forecast period. This growth is attributable to growing demand for speed, position, pressure, gas, and temperature can be sensed by powertrains.
• Regionally, the Asia pacific is estimated to retain its dominance over the forecast period owing to increasing production of vehicles in developing countries such as Japan, China, South Korea, and India.
• Key participants in the commercial vehicle sensors market include DENSO Corporation, Continental AG, Sensata Technologies, Hella KGaA Hueck & Co., Robert Bosch GmbH, TE Connectivity Ltd., Bourns, Inc., Delphi Automotive Systems LLC, IAV GmbH, and Stoneridge, Inc.

Emergen Research has segmented the Global Commercial Vehicle Sensors Market on the basis of type, sales channel, application, and region:

• Type Outlook (Revenue, USD Billion; 2017-2027)
  • Temperature
  • Motion
  • Level
  • Position
  • Image
  • Microelectromechanical systems
  • Pressure
  • Others

• Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
  • OEMs
  • Aftermarket

• Application Outlook (Revenue, USD Billion; 2017-2027)
  • Powertrain
  • Telematics
  • Chassis & Safety
  • Body Electronics
  • Others

• Regional Outlook (Revenue, USD Billion; 2017-2027)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. Rest of MEA

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