The analysts forecast global automotive temperature sensors market to grow at a CAGR of 6% during the period 2018-2022. The latest trend gaining momentum in the market is Growing automotive HVAC market to push wider adoption of temperature sensors.
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HVAC systems have more than 97% penetration in developed regions like North America and Europe, whereas, they lag behind in the case of emerging nations.
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However, with an increase in disposable income and availability of financing options, consumers are considering buying vehicles with HVAC systems in emerging markets, such as India. APAC being the hub for automotive industry, the increase in adoption of HVAC systems is expected to increase the adoption of temperature sensors during the forecast period.
Major key players in the global automotive temperature sensors market: Bosch, Continental, Delphi, DENSO, NXP Semiconductors, and Sensata Technologies
According to the automotive temperature sensors market report, one of the major drivers for this market is Automobile electronics market grows with increasing concern about safety and security in vehicles. the consumers. These sensors enhance the engine control and provide better safety, security, and comfort in a vehicle.
Advanced electronic control units facilitate operations, such as driver assistance through navigation systems, in-vehicle infotainment through audio-video devices, and internet facility through in-built or plug-in modems.
Further, the automotive temperature sensors market report states that one of the major factors hindering the growth of this market is Increasing cost pressure on automotive OEMs. Rising consumer demands and dynamism in the regulatory environment have subjected OEMs to cost pressures as they have to change their vehicle and engine designs in a short period of time to comply with the newer regulations.
OEMs are constantly struggling to find ways to minimize the overall cost so that it is not transferred to the consumers as this transfer may reduce the demand for the vehicle.
Key questions answered in this automotive temperature sensors market report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Report at www.reportsnreports.com/.aspx?name=1299403.
Few Points from List of Exhibits:
Exhibit 1: Types of Temperature Sensors
Exhibit 2: Parent Market
Exhibit 3: Global Automotive Sensors Market
Exhibit 4: Market Characteristics
Exhibit 5: Market Segments
Exhibit 6: Market Definition - Inclusions and Exclusions Checklist
Exhibit 7: Market Size 2017
Exhibit 8: Validation Techniques Employed For Market Sizing 2017
Exhibit 9: Global Market Size and Forecast 2017-2022 ($ Billion)
Exhibit 10: Global Year-Over-Year Growth 2018-2022 (%)
Exhibit 11: Five Forces Analysis 2017
Exhibit 12: Five Forces Analysis 2022
Exhibit 13: Bargaining Power of Buyers
Exhibit 14: Bargaining Power of Suppliers
Exhibit 15: Threat of New Entrants
Exhibit 16: Threat of Substitutes
Exhibit 17: Threat of Rivalry
Exhibit 18: Market Condition - Five Forces 2017
Exhibit 19: Global Automotive Temperature Sensors Market Segmentation by Application
Exhibit 20: Application Market Share 2017-2022 (%)