The global automotive wheel speed sensor market size reached US$ 7.7 Billion in 2023. Looking forward, the market is projected to reach US$ 10.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.29% during 2023-2032.
An automotive wheel speed sensor (WSS), also known as a vehicle speed sensor (VSS), measures the speed of the wheels and the direction of rotation of cars. It provides input to different automotive systems, including the anti-lock brake system (ABS) and electronic stability control (ESC) using electrical signals. It is installed directly above the pulse wheel, which is connected to the wheel hub or the driveshaft. It helps ensure proper driving dynamics, lower fuel consumption, and reduce gas emissions. At present, the automotive WSS finds extensive applications in passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs) across the globe.
Apart from this, governing authorities of numerous countries are mandating the integration of ABS in automotive vehicles, which is facilitating the growth of the market. Other factors, such as the increasing sales of passenger cars around the world and rising improvements in the performance, materials, mechanics, engines and fuels, aerodynamics, and autonomous control in automotive vehicles, are projected to stimulate the market growth.
2. What is the expected growth rate of the global automotive wheel speed sensor market during 2024-2032?
3. What are the key factors driving the global automotive wheel speed sensor market?
4. What has been the impact of COVID-19 on the global automotive wheel speed sensor market?
5. What is the breakup of the global automotive wheel speed sensor market based on the sensor type?
6. What is the breakup of the global automotive wheel speed sensor market based on the vehicle type?
7. What are the key regions in the global automotive wheel speed sensor market?
8. Who are the key players/companies in the global automotive wheel speed sensor market?
An automotive wheel speed sensor (WSS), also known as a vehicle speed sensor (VSS), measures the speed of the wheels and the direction of rotation of cars. It provides input to different automotive systems, including the anti-lock brake system (ABS) and electronic stability control (ESC) using electrical signals. It is installed directly above the pulse wheel, which is connected to the wheel hub or the driveshaft. It helps ensure proper driving dynamics, lower fuel consumption, and reduce gas emissions. At present, the automotive WSS finds extensive applications in passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs) across the globe.
Automotive Wheel Speed Sensor Market Trends
The increasing utilization of electric vehicles (EVs), in confluence with significant growth in the automotive sector, represents one of the key factors creating a positive outlook for the market. Moreover, the rising road traffic presents numerous challenges to the drivers, and consequently, there is a rise in the adoption of advanced driver assistance systems (ADAS) that optimize safety on the road. Automotive WSS is used in ADAS systems, such as ABS, traction control systems (TCS), adaptive cruise control (ACC), and motor control units (MCU), to determine the wheel speed. Besides this, the optimal interaction of these electronic systems ensures the fault-free function of the vehicle and improves traffic security.Apart from this, governing authorities of numerous countries are mandating the integration of ABS in automotive vehicles, which is facilitating the growth of the market. Other factors, such as the increasing sales of passenger cars around the world and rising improvements in the performance, materials, mechanics, engines and fuels, aerodynamics, and autonomous control in automotive vehicles, are projected to stimulate the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global automotive wheel speed sensor market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on sensor type and vehicle type.Breakup by Sensor Type:
- Active
- Passive
Breakup by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and ZF Friedrichshafen AG.Key Questions Answered in This Report
1. What was the size of the global automotive wheel speed sensor market in 2023?2. What is the expected growth rate of the global automotive wheel speed sensor market during 2024-2032?
3. What are the key factors driving the global automotive wheel speed sensor market?
4. What has been the impact of COVID-19 on the global automotive wheel speed sensor market?
5. What is the breakup of the global automotive wheel speed sensor market based on the sensor type?
6. What is the breakup of the global automotive wheel speed sensor market based on the vehicle type?
7. What are the key regions in the global automotive wheel speed sensor market?
8. Who are the key players/companies in the global automotive wheel speed sensor market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Automotive Wheel Speed Sensor Market
6 Market Breakup by Sensor Type
7 Market Breakup by Vehicle Type
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.7 Billion |
| Forecasted Market Value ( USD | $ 10.3 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
