Automotive Wheel Speed Sensor Market Share, Size 2022-2027 | Industry Analysis, Growth and Forecast

Home » Automotive Wheel Speed Sensor Market Share, Size 2022-2027 | Industry Analysis, Growth and Forecast

The global automotive wheel speed sensor market size reached US$ 7.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.11 Billion by 2027 exhibiting a growth rate (CAGR) of 3.75% during 2022-2027.

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An automotive wheel speed sensor, alternatively known as a vehicle speed sensor (VSS), represents a type of tachometer that is designed for measuring the speed of the wheel rotation of a car. It is available in active and passive categories. These automotive wheel speed sensor variants are integrated directly above the pulse wheel that is connected to the drive shaft or wheel hub. They provide input about the speed of the wheels or wheel locking issues during braking to various automotive systems, including electronic stability control (ESC) and anti-lock brake system (ABS), via electrical signals to ensure driving safety. As a result, automotive wheel speed sensor devices find extensive applications in the production of passenger and commercial vehicles across the globe.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Automotive Wheel Speed Sensor Market Trends and Drivers: 

The growing automotive sector and the increasing demand for electric vehicles (EVs) are primarily driving the automotive wheel speed sensor market. Besides this, the escalating adoption of advanced driver assistance systems (ADAS), traction control systems (TCS), adaptive cruise control (ACC), etc., that facilitate safety on the road is acting as another significant growth-inducing factor.

Additionally, the launch of favorable policies by the government bodies aimed at promoting mandatory integration of ABS in automobiles is also positively influencing the global market.

Furthermore, the development of state-of-the-art materials, engines, mechanics, aerodynamics, and autonomous control in automotive vehicles are anticipated to propel the automotive wheel speed sensor market in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Sensor Type:

  • Active
  • Passive

Breakup by Vehicle Type:

  • Passenger Vehicle
  • Commercial Vehicle

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

The major players in the market are

  • BorgWarner Inc.
  • Continental AG
  • DENSO Corporation
  • FTE automotive GmbH (Valeo)
  • Hella KGaA Hueck & Co. (Faurecia SE)
  • Hitachi Metals Ltd. (Hitachi Ltd.)
  • KA Sensors Ltd.
  • NTN-SNR Roulements S.A. (NTN Corporation)
  • Robert Bosch GmbH
  • TE Connectivity
  • ZF Friedrichshafen AG.

 

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