According to research, the crankshaft position sensor market is expected to increase multi-fold during 2021 to 2031, reflecting a CAGR of 8%-10% over the said period. The growth of the crankshaft sensor market is expected to be fueled by an increase in the demand for fuel-efficient vehicles, a boom in technological developments, and an increase in automobile production.
What is Driving Demand for Crankshaft Position Sensor?
A crankshaft is a piece of machinery that rotates. A sensor is an electronic device that keeps track of the position or the rotational speed of an engine’s crankshaft. This information is used by engine management systems to govern ignition system timing and other engine parameters.
The primary function of this sensor is to determine the crank’s rotational speed and velocity. It also keeps track of the crankshaft’s rotational speed. This information is subsequently used by the engine control unit to regulate ignition, fuel injection, and other critical engine characteristics.
These sensors in automobiles are currently in high demand, allowing manufacturers to provide drivers with higher levels of safety, security, reliability, and information. Electronic device manufacturers are putting more sensors into their products in order to add more functions and compete with other competitors in the market.
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The introduction of ADAS systems has elevated the use of crankshaft position sensors in automobiles to new heights. Vehicle electrification has seen potential progress in the automobile industry, particularly in transmission systems, temperature control, powertrain, safety systems, and exhaust.
The use of these systems in passenger automobiles has risen in recent years, owing to rising economic status and changing consumer desires for improved safety and comfort, as well as the introduction of modern technologies. As a result, the demand for crankshaft position sensors in passenger cars has increased.
US and Canada Demand Outlook of Crankshaft Position Sensor
US and Canada are regarded as early adopters of technology and are predicted to grow rapidly during the next ten years. The crankshaft position sensor industry has benefited from increased fuel efficiency regulations and a general awareness of the sustainable use of resources in North American countries.
A few engines, such as General Motors’ Premium V family, include advanced crank position sensing systems that interpret a reluctor ring attached to the harmonic balancer. The approach is significantly more precise in determining the position of the crankshaft, allowing the ECU to determine the exact position of the crankshaft and other associated components at any given time to within a few degrees.
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East Asia Crankshaft Position Sensor Sales Outlook
The automobile sector in East Asia has been particularly dynamic in recent years, thanks to rising middle-class per capita income and cost benefits for original equipment manufacturers (OEMs). The region is known for making small and cost-effective automobiles, and it includes some of the world’s fastest-growing economies, such as China and Japan.
From 2021 through 2031, East Asia is expected to be the world’s largest vehicle market. The growing population and rising income levels in East Asia have resulted in higher demand for automobiles, which has fueled the expansion of the crankshaft position sensor market.
Due to cheap automobile production costs, easy availability of inexpensive labor, safety standards and government attempts to support foreign direct investments, the crankshaft position sensor market in East Asia has a great growth potential. The rising level of automobile manufacturing is being accompanied by a growing customer preference for comfort and safety, which is likely to drive up demand for crankshaft position sensor in East Asia.
Who are the Key Manufacturers and Suppliers of Crankshaft Position Sensor?
Some of the leading manufacturers and suppliers include
- Allegro MicroSystems Inc
- ACDelco Corporation
- Honeywell International Inc.
- Robert Bosch GmbH
- Beck Arnley
- BorgWarner Inc.
- Denso Corporation
- Valeo S.A.
- Dorman Products Inc.
- Spectra Premium
- Infineon Technologies AG and others.
Key international players are expected to lead the market, followed by mid-sized industry players. These companies are expected to boost their market position by investing heavily in R&D, expanding their product portfolio, and investing in new crankshaft position sensor technology.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Crankshaft Position Sensor Market report highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint