The most recent report by Market Research Future (MRFR) asserts that the global automotive throttle position sensor market 2020 is slated to acquire a considerable market valuation at a moderate CAGR over the review period.
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Drivers and Restraints
The influential factors accountable for the growth of the automotive throttle position sensor market are the expanding automotive infrastructure in emerging economies such as China, Norway, India, among others along with the potentiometer throttle position sensors in passenger automobiles across the globe. The stringent vehicle emission regulations such as BHARAT stage-VI, EURO-6, and US tier-2 regulations have promoted the use of advanced sensor technology, by OEMs, in countries such as Japan, India, Germany, and the US also add to its growth. the increasing demand for TPS in the automatic transmission and the rising concerns regarding engine safety are likely to contribute significantly towards the market growth. The increased buying power of consumers has also increased the demand for automobiles with enhanced security and advanced features. The adoption of advanced driver assistance system (ADAS) technology and the advent of autonomous cars are estimated to fuel the growth of the automotive sensors market in developed nations such as Germany, the US, and the UK. Sensors in passenger cars improve the performance of vehicles, enhance the safety of passengers, and reduce emissions from them. The increase in demand for safe vehicles has directly fueled the demand for automobiles in emerging economies such as China, India, and Brazil, where the penetration of cars is significantly low.
The growth is, on the other hand, restrained by the standard protocols for the expansion of the throttle position sensor and the rising complications in the design of throttle sensors, which raise the overall cost of throttle sensors.
The global market for automotive throttle position sensor is segmented based on product type, vehicle type, sales channel, and region. On the basis of product type, the automotive throttle position sensor market has been segmented into a socket, potentiometer, and comprehensive. On the basis of vehicle type, the automotive throttle position sensor market has been segmented into a passenger car, and commercial vehicle. the passenger vehicle segment holds a significant share of the automotive position sensor market due to the higher application of the position sensors along with the high production of passenger vehicles. On the basis of the sales channel, the market has been segmented into OEM and aftermarket.
The geographical analysis of the global automotive throttle position sensor market has been conducted in four major regions, namely North America, the Asia Pacific, Europe, and the rest of the world (comprising Latin America and the Middle East and Africa).
The Asia-Pacific automotive throttle position sensor market is estimated to hold the largest market share over the assessment period, owing to growing automotive infrastructure and the demand for automotive electronics in Japan and South Korea.
In North America, the stringent norms and regulatory compliance by U.S. Environment Agency will lead the automotive and sensor manufacturers to produce reliable automotive throttle position sensors. It will give rise to the demand for small dimensions, higher accuracy, and durable throttle position sensors.
Europe is estimated to grow at a significant rate in the automotive throttle position sensor market during the review period due to the presence of key players, such as Infineon Technologies (Germany), Robert Bosch (Germany), and Continental AG (Germany).
The essential market players identified by MRFR in the global automotive throttle position sensor market are Continental AG (Germany), Robert Bosch GmbH (Germany), Delphi Technologies (Ireland), Denso Corporation (Japan), Magneti Marelli S.p.A (Italy), HELLA GmbH & Co. (Germany), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), Sensata Technologies, Inc. (the US), and CTS Corporation (US).
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