The new report by Expert Market Research titled, ‘Global Automotive Gear Position Sensor Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global automotive gear position sensor market, assessing the market based on its segments like applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 10%
- Forecast Market Size (2026): USD 4.4 Billion
The growing need for automotive fuel efficiency is driving the global automotive gear position sensor market. Moreover, advancements in triple-clutch transmission systems are assisting the industry’s growth. Furthermore, as automatic transmission systems become more popular, the demand for automotive gear position sensors is expanding. The strong preference for shift-by-wire devices over mechanical transmission connections is projected to fuel market expansion during the forecast period.
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/automotive-gear-position-sensor-market
Industry Definition and Major Segments
The automotive gear position sensor monitors the position of the gear and transmits information about the present position of the gearshift to the transmission control module, also known as the transmission control unit (TCU).
The industry can be broken down based on application into:
- Automatic Transmission
- Manual Transmission
Regionally, the industry can be segmented into:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Market Trends
Recently, some significant industrial advancements demonstrated the potential to fuel the market’s growth throughout the projection period. For example, Bosch began developing long-range LiDAR for automotive application in January 2020. This LiDAR can be utilized for self-driving cars.
Key Market Players
The major players in the market are TE Connectivity Corp., ZF Friedrichshafen AG, Continental AG, Honeywell International Inc., Infineon Technologies AG. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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