Market Research Report
Automotive Rain Sensor - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||907702|
|Published||Content info||187 Pages
Delivery time: 2-3 business days
|Automotive Rain Sensor - Global Market Outlook (2017-2026)|
|Published: August 19, 2019||Content info: 187 Pages||
According to Stratistics MRC, the Global Automotive Rain Sensor market is accounted for $3.34 billion in 2017 and is expected to reach $6.50 billion by 2026 growing at a CAGR of 7.6%. Improvement in technological advancements, rise in production of vehicles, and increase in demand for luxury features are the factors driving the global Automotive Rain Sensor market. However, the overall cost of vehicles has augmented due to the integration of advanced electrical features and is expected to hinder the growth of the global Automotive Rain Sensor market.
Automotive rain sensor activates in occurrence of rainfall. It automatically switches on wipers, sensing water splash on windshield. Automotive rain sensor helps with driver's safety and comfort, as the driver does not require adjusting or switching on the wipers while driving a vehicle.
Based on the vehicle type, the light commercial vehicle segment is expected to grow significantly due to increase in commercial vehicles production in developed countries is a factor anticipated to support growth of the segment in the target market.
By geography, Asia Pacific is expected to have a considerable market growth during the forecast period. The financial development of the rising nations, such as, India and China will expand the interest for passenger vehicles in the coming years; this will actuate worldwide carmakers to put intensely in technology and present day large scale manufacturing frameworks, in turn, fueling the demand for automotive rain sensing wiper systems.
Some of the key players in the Automotive Rain Sensor market include Denso Corporation, ZF TRW, Melexis Microelectronic Systems, Robert Bosch GmbH, Vishay Intertechnology Inc, The Kostal Group, Valeo SA, Hamamatsu Photonics K.K., Hella KGAA Hueck & Co, Mitsubishi Motors Corporation and Xenso.
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances.