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The crankshaft sensor is one of is the most vital component in the engine management system. This sensor is fitted on the crank or in an internal combustion engine to monitor the rotational speed, velocity, and position of the crankshaft. It registers the spinning rate of the crankshaft. This information is used by the engine control unit (ECU) to inject fuel, regulate the ignition and other engine parts. Globally, the rising number of sales and production of vehicles is leading to the growth of the crankshaft sensor market. The OEMs are investing heavily in research to develop and enhance the performance of vehicles. The magnetic pick-up sensor and hall-effect sensor are the commonly used sensors by the manufacturers.
The increase in sales and demand for the vehicle is anticipated to drive the automotive crankshaft sensor market. Some of the prominent manufacturers are investing massively in research to develop and adopt advanced technology to enhance the overall performance of vehicles. On the contrary, the growing demand for electric vehicles and the high rate of failure is anticipated to hinder the growth of the crankshaft sensor market.
Key Market Driver -
Rising sales of automobile across the globe is expected to drive the automotive crankshaft sensor market.
Key Market Restraint -
Increasing demand for electric vehicles and low standard performance measurement are anticipated to hinder the growth of the crankshaft sensor market.
Some of the prominent manugacturers that are present in the automotive crankshaft sensor market include Delphi Automotive, Takata, Infineon Technologies, Robert Bosch, Allegro MicroSystems, LeddarTech, NXP Semiconductors, Micronas Semiconductor Continental, and Denso among the other players.
Globally, the automotive crankshaft sensor market is segmented into sensor type, vehicle type, and region. By sensor type, the segment is further divided into a magnetic pick-up sensor, hall-effect sensor, and others. The hall-effect sensors are widely used sensors by the OEMs. This sensor produces a digital square wave signal and has a three-pin connector (signal, voltage, and ground). The majority of the cars are fitted with hall-effect sensors. Thus, the hall-effect crankshaft sensor market is anticipated to show substantial growth in the forecast period. By vehicle type, the market is further bifurcated into passenger cars and commercial vehicles. The passenger car segment holds the largest market share of the global automotive crankshaft sensor. The rise in the disposable income of the people, improved standard of living, and the trend of private cars are rising the number of sales and production of passenger cars across the globe. All these factors are leading to an increase in the automotive crankshaft sensor market.
Geographically, the automotive crankshaft sensor market is divided into North America, Europe Asia Pacific, and the rest of the world. The Asia Pacific region leads the automotive crankshaft sensor market and is expected to dominate over the forecast period owing to increasing production and sales of vehicles in this region. India and China are the major countries for the high rate of passenger cars in this region. Most of the prominent manufacturing companies in this region are focusing on producing technologically advanced components to enhance the overall performance of the vehicles. The Asia Pacific is followed by Europe. It is estimated to be the second-largest market in the automotive crankshaft sensor market. An increase in demand for passenger cars and stringent regulations for the safety of the vehicle are the factors responsible for driving the growth of this market.
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