NEW YORK, Feb. 24, 2023 /PRNewswire/ -- According to Technavio, the global automotive brake wear sensors market size is estimated to grow by USD 1,091.42 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.04% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 34% of the market's growth. In 2020, the outbreak of COVID-19 negatively impacted the market in the region. However, in 2021, the success of vaccination drives across the countries in this region, and the rise in investment inflows in the auto sector helped the plants and service units to reopen and start their operations. As a result of all these factors, the demand for automotive brake wear sensors has increased, which, in turn, will propel the growth of the market in the region during the forecast period. For more insights on the global automotive brake wear sensors market Request a sample report

Leading trends influencing the market 

• New developments and launches of commercial drones are major trends in the market.

• Integrated smart sensors are emerging trends in the market.

• Smart sensors take input commands from the physical environment and use the available resources to perform predefined functions.

• They offer better control of all operations of a sensor across all ranges.

• With the use of integrated sensors, the need for an expensive multi-pole ring magnet completely disappears because integrated sensors will make use of the metallic hub and the printed circuit board to sense the speed.

• It has been estimated that integrated smart sensor solutions can increase the production of automotive sensors by 5%-10% in the coming years. Hence, these factors will boost the market growth during the forecast period.

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E-scooter market- Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (passenger cars and commercial vehicles), and product (electronic brake wear sensors and disc brake wear sensors).

• The passenger cars segment will grow at the highest rate during the forecast period. The automotive braking system is an integral part of a vehicle. It involves safety and control standards. As the demand for passenger cars in developing economies is estimated to increase in the coming years, the demand for automotive brake wear sensors will also rise as it helps in providing safety to commuters. Furthermore, as many regulatory bodies are making efforts to increase safety and decrease the number of road accidents, automotive brake wear sensors might become a mandatory component in vehicles. Such factors are likely to drive the growth of the passenger cars segment during the forecast period.

Geography Overview
By geography, the global automotive brake wear sensors market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global e-scooter market.

• North America is estimated to account for 34% of the growth of the global market during the forecast period. North America, being a developed economy, takes the first-mover advantage in adopting any technological development in an automobile. As this region comprises mature markets and technologically advanced nations such as the US, and Canada, it has resulted in the development of a high concentration of passenger and commercial vehicle manufacturers. The region also has the presence of major automotive OEMs, such as General Motors, Ford Motor, and Fiat Chrysler Automobiles. Other factors like an increase in awareness of passenger safety, road safety, and vehicle security will also drive the market in the region during the forecast period.

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E-scooter market– Market Dynamics
Key factor driving market growth

• The advancements in sensors and the emergence of low-cost drones are notably driving the market growth. 

• The automotive industry has seen an increase in consumer demand for safety, fuel efficiency, and reduction of emission levels, which has significantly impacted the global market in a positive manner.

• Various sensors such as seat pressure, A/C compressor, night driving lamps, solar radiation sensors, and brake wear sensors offer occupants a comfortable traveling experience.

• Therefore, consumer preferences tend to favor automotive sensor manufacturers as the demands are primarily inclined toward better safety and comfort.

• The players in the global market also claim that consumer knowledge of vehicle security and safety technology is increasing at a steady pace. Thus, such factors are anticipated to boost the growth of the global market during the forecast period.

Major challenges hindering the market growth

• The restrictive laws and regulations governing UAV use are major challenges impeding the market growth.

• The government and the consumers are making efforts to encourage proactive maneuvering of vehicles to avoid and decrease the number of road accidents. hence, vehicles are equipped with various safety devices to provide a safe and comfortable driving experience.

• Sensors help to detect changes in their immediate environment by capturing stimuli changes and updating the system electronically.

• Sensors must be tuned properly to maximize the driving experience and prevent failure of the same.

• Sensors must be tuned on a regular basis to ensure that there is no incorrect information alert sent to the driver as it might misguide them. This will have the potential to increase the number of road accidents and hamper the safety of commuters, which, in turn, will negatively affect the growth of the global market during the forecast period.

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What are the key data covered in this automotive brake wear sensors market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the automotive brake wear sensors market between 2023 and 2027

• Precise estimation of the size of the automotive brake wear sensors market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the e-scooter industry across North America, Europe, APAC, South America, and Middle East and Africa

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of automotive brake wear sensors market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global automotive brake wear sensors market 2017 - 2021

• 4.2 Application Segment Analysis 2017 - 2021

• 4.3 Product Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Application

• 6.1 Market segments

• 6.2 Comparison by Application

• 6.3 Passenger cars - Market size and forecast 2022-2027

• 6.4 Commercial vehicles - Market size and forecast 2022-2027

• 6.5 Market opportunity by Application

7 Market Segmentation by Product

• 7.1 Market segments

• 7.2 Comparison by Product

• 7.3 Electronic brake wear sensors - Market size and forecast 2022-2027

• 7.4 Disc brake wear sensors - Market size and forecast 2022-2027

• 7.5 Market opportunity by Product

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 APAC - Market size and forecast 2022-2027

• 9.6 South America - Market size and forecast 2022-2027

• 9.7 Middle East and Africa - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 Germany - Market size and forecast 2022-2027

• 9.10 China - Market size and forecast 2022-2027

• 9.11 UK - Market size and forecast 2022-2027

• 9.12 Japan - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Akebono Brake Industry Co. Ltd.

• 12.4 BorgWarner Inc.

• 12.5 Brembo SpA

• 12.6 CARiD.com

• 12.7 Carlisle Companies Inc.

• 12.8 Continental AG

• 12.9 DENSO Corp.

• 12.10 General Motors Co

• 12.11 Holstein Automotive Group

• 12.12 Mitsubishi Electric Corp.

• 12.13 Otto Zimmermann Maschinen und Apparatebau GmbH

• 12.14 Robert Bosch GmbH

• 12.15 Sensata Technologies Inc

• 12.16 Shandong Frontech Auto Parts Co. Ltd

• 12.17 Standard Motor Products Inc.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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