The Saudi Arabia automotive sensors market is expected to increase to $0.39 billion by 2018 at a CAGR of 6.47% over the period 2014-2020.
The low cost & compact size, ecofriendly & bulk manufacturing capability, and energy efficient are the key drivers which are making the automotive sensors market to grow lucratively. Development of new applications for technologies which utilize nano and micro technology will help grow the Saudi Arabia automotive sensor market. Increased research and development in the sensor industry is creating opportunities for technological advancements that open up new horizon for sensor applications.
The major trend driving the Saudi Arabia automotive sensor market is miniaturization and improved communication capabilities, which enables their integration into vehicles without interfering with the basic functionalities of the vehicle. Prominent factors driving the market include growing automobile sales, rising automobile fleet, encouraging government policies and increasing foreign investments in automotive sector.
Passenger car tyre segment remains the dominant market segment in Saudi Arabia, followed by commercial vehicle tyre segment. Passenger car is anticipated to continue dominating Saudi Arabia automotive market, exhibiting fastest growth rate over the next five years.
Key Topics Covered:
2. Key Findings
3. Market Overview & Dynamics
5. Porter's Five Forces Analysis
6. Market Segmentation
7. Company Profiles
8. Investment Analysis
9. Future of Automotive Sensors Market Companies Mentioned