Market Research Future Insights
According to MRFR analysis, the global Automotive Electronics Sensor Aftermarket market is expected to register a CAGR of ~8.1% from 2022 to 2030 and hold a value of over USD 14000 million by 2030.
Automotive electronics sensor aftermarket refers to the market for the replacement or repair of electronic sensors used in automobiles, such as temperature sensors, pressure sensors, position sensors, and other types of sensors. These sensors are an important component of modern vehicles and are used to monitor and control various systems, including powertrain, suspension, brakes, and others. The COVID-19 pandemic has had a significant impact on the automotive electronics sensor aftermarket, as the slowdown in global automotive production and the decline in global economic activity as a result of the pandemic has reduced demand for these systems. Additionally, the closure of many automotive repair shops and garages during the pandemic has further reduced demand for the replacement and repair of automotive electronics sensors. However, the long-term outlook for the automotive electronics sensor aftermarket remains positive, as the demand for advanced and connected vehicles, which require sophisticated sensors, is expected to continue growing in the coming years.
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Regional Analysis
The Asia-Pacific region, particularly countries like China and India, is considered to be some of the most promising growth markets for the automotive electronics sensor aftermarket. The region has a rapidly growing automotive industry and is home to many of the world's largest automotive manufacturers and suppliers. Additionally, the region's rapidly developing market for advanced and connected vehicles, which require sophisticated sensors, is expected to drive demand for these systems in the coming years. Furthermore, the region's favorable regulatory environment and supportive government policies have made it an attractive market for manufacturers of automotive electronics sensors.
Market Segmentation
The Global Automotive Electronics Sensor Aftermarket market has been segmented into type and application.
Based on the type, the market has been segmented into Oxygen, LiDAR, Temperature, Position, Pressure, and Speed.
Based on the application, the market has been segmented into Powertrain, Body Electronics, Safety & Control, and Telematics.
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Key Players
Some of the key market players are Standard Motor Products, Inc. NGK Spark Plug CO., LTD, BorgWarner Inc., Robert Bosch GmbH, Delphi Technologies, Valeo, Continental AG, Denso Corporation, Hella GmbH & Co. KGaA, Dorman Products, and Sensata Technologies Inc.
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