Automotive Throttle Position Sensor Market Size

The global automotive throttle position sensor market size is expected to exhibit a strong 6% CAGR over the forecast period from 2018 to 2025, according to the latest research report published by Market Research Future (MRFR). The global automotive throttle position sensor market is mainly driven by the growing demand from the automotive industry, the growing demand for the incorporation of electromechanical components in car designs, and the increasing demand for automatic transmission in cars.

The growing global automotive industry is likely to be a major driver for the global automotive throttle position sensor market over the forecast period. The growing demand for passenger cars in emerging countries around the world has driven the demand for various automotive components, including throttle position sensors. The growing demand for personal ownership of vehicles is likely to be a major driver for the global automotive throttle position sensor market.

The increasing incorporation of automotive electronics is also likely to be a key driver for the global automotive throttle position sensor market over the forecast period. Electronic systems rely even more on throttle position sensors than conventional systems run on hydraulics or other comparable engineering solution. This is likely to be a key driver for the global automotive throttle position sensor market over the forecast period, as the demand for electronic automotive components is likely to increase with the increasing demand for autonomous and connected cars.

The growing demand for automatic transmission in cars is likely to be a key driver for the global automotive throttle position sensor market over the forecast period. Automatic transmission is being favored by car buyers due to its higher convenience than manual transmission systems and is likely to remain preferred over the forecast period, leading to a growing demand from the global automotive throttle position sensor market.

Competitive Analysis:

Leading players in the global automotive throttle position sensor market include CTS Corporation, Mitsubishi Electric Corporation, Sensata Technologies Inc., Infineon Technologies AG, Magneti Mirelli SpA, HELLA GmbH & Co., Denso Corporation, Robert Bosch GmbH, Delphi Technologies, and Continental AG. Key players in the global automotive throttle position sensor market are likely to focus on product development in the coming years, with the growing demand for electric vehicles and autonomous connected cars likely to bring about significant changes in the growth prospects of the automotive throttle position sensor market over the forecast period.

Segmentation:

The global automotive throttle position sensor market is segmented based on product type, vehicle type, sales channel, and region.

On the basis of product type, the global automotive throttle position sensor market is segmented into potentiometer, socket, and comprehensive.

On the basis of vehicle type, the market has been segmented into passenger cars and commercial vehicles.

On the basis of sales channel, the global automotive throttle position sensor market is segmented into OEM and aftermarket.

Regional Analysis:

Asia Pacific is likely to hold the largest share in the global automotive throttle position sensor market over the forecast period due to the growing automotive industry in countries like Japan, South Korea, China, and India. The growing demand for automotive electronics in Japan and South Korea, as well as the leading role played by the Japanese car industry, in particular, in the technological development of automotive electronics, is likely to be a key driver for the global automotive throttle position sensor market over the forecast period.

The growing demand for cars with automotive transmission in the urban areas in Asia Pacific is also likely to be a key driver for the automotive throttle position sensor market in this region over the forecast period.

North America also holds a leading share in the global automotive throttle position sensor market and is likely to retain a significant dominance in the market over the forecast period due to the growing automotive industry in the region.

Europe is likely to emerge as a key innovation and product development hub in the global automotive throttle position sensor market over the forecast period due to the presence of several leading car firms in the region.