DUBLIN, Dec. 18, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/9gg2lz/automotive_rain) has announced the addition of the "Automotive Rain Sensor Market - Trends and Forecast to 2020" report to their offering.
The automotive rain sensor market, in terms of value, is projected to grow at a CAGR of 6.05% from 2015 to 2020, to reach a market size of USD 4.15 Billion by 2020. This growth can be attributed to factors such as the increasing demand for better comfort features, increasing awareness regarding driver safety, and technological advances.
Europe is estimated to occupy the largest share in the automotive rain sensor market in 2015. The passenger car segment is estimated to dominate the market in 2015, followed by Light Commercial Vehicles (LCV). The increasing demand for comfort and safety creates promising growth opportunities for rain sensing wiper systems, which use automotive rain sensors, and would consequently boost the demand for the same. Automotive rain sensors have no direct substitutes which is a positive for the manufacturers. The market is dominated by manufacturers who possess advanced technological capabilities.
Initially, the rain sensor used in rain sensing wiper system was an optional feature only offered in luxury cars. However, with advancements in technology, this feature has become a standard feature for luxury cars while becoming an optional feature in other car segments. Thus, the market for automotive rain sensors is expected to grow in all passenger car segments. The increased use of rain sensors in commercial vehicles will also boost the market at the global level. The North American market has high growth potential as it is one of the largest luxury car markets. The sales statistics of vehicles show promising growth potential, particularly driven by pick-up truck sales and SUVs, which dominate the market. Thus, the LCV segment is also expected to grow in the near future.
The different types of vehicles considered in the study are passenger cars, light commercial vehicles, and heavy commercial vehicles and the regions considered under the study are Asia-Pacific, North America, Europe, and RoW.
Average unit price has played an important role in the growth of the market. The prices have seen a downward trend, making it possible for the OEMs to incorporate rain sensor across all variants of the various vehicles. However, now the sensor is integrated with various other features including the Rain/Light sensor, which will impact average unit price.
Companies Mentioned:
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Rain Sensor Market, By Vehicle Type
7 Automotive Rain Sensor Market, By Region
8 Competitive Landscape
9 Company Profiles
For more information visit http://www.researchandmarkets.com/research/9gg2lz/automotive_rain
Media Contact:
Laura Wood, +353-1-481-1716, press@researchandmarkets.net
Share this article